Brownie’s Marine Group Inc (OTCMKTS:BWMG) Reports 37.7% Jump in Revenues
Leading manufacturer and developer of tankless diving equipment, air rescue tanks, and high-pressure industrial compressors Brownie’s Marine Group Inc (OTCMKTS:BWMG) announced its financial results for the fiscal year that ended on December 31, 2022. The company generated revenues of $8.58 million for the year, which worked out to a rise of 37.7% from the revenues of $6.23 million in 2021.
In this regard, it should be noted that $1,592,000 of the revenue figure had been contributed by Submersible Systems in the 2022 financial year. On the other hand, the revenues generated by LW Americas came in at $1,118,000 and that reflected a year-on-year rise of as much as 81.5% from the $616,000 that it generated in 2021.
Live Blue Inc managed to bring in revenues of $212,900 for seven months of business activities. BLU3 Inc clocked revenues of $3.1 million and that worked out to a rise of 36.2% from the $2.2 million in revenues in the 2021 financial year. Chris Constable, the Chief Executive Officer of the company, noted that although he was happy with the revenue growth, the company had been negatively impacted by the BLU3 recall during the fiscal year.