CirTran Corporation (OTCMKTS:CIRX) Reports 157% Growth in Sales and Gross Margins

CirTran Corporation (OTCMKTS:CIRX) in range after announcing its Form 10-Q Filing with the SEC for the quarter ending June 30, 2021, showed significant growth in gross margins and sales. For the quarter, net sales were $700,656 representing a YoY increase of 38% from $528,232 in the same quarter in 2020.

Market Stats

On Monday, CIRX stock ended flat at $0.0550 with 1.3K shares, compared to its average volume of 7.13k shares. The stock moved within a range of $0.0550 – 0.0550 after opening trading at $0.0550.

 Gross profit was $438,245, a 32% improvement from $332,294 reported in the same quarter a year before. For the six months ended June 30, 2021, the company had net sales of $1.32 million, a 149% YoY growth, with gross profit equally growing 157% to $855,996.

The company’s president and founder, Iehab Hawatmeh, said that it continues to implement its growth strategy despite pandemic-induced economic challenges. In addition to reorders from existing firms and markets, the company made inroads into other markets like Nevada, where it is currently headquartered, Florida, California, Washington, Utah and Texas. So in the coming weeks, investors should watch CIRX.

Key Quote

Iehab J. Hawatmeh, founder and president of CirTran, said the company “continued to execute our growth plan, even in the face of the pandemic and very challenging economic times. Along with reorders from existing companies and markets,” he said. “CirTran made inroads in numerous areas, including Nevada, where it is now headquartered, as well as in California, Florida, Texas, Utah, Washington and Wisconsin.”