Where Food Comes From reports Q2 EPS 11c vs 9c last year

Reports Q2 revenue $6.562M vs $6.395M last year. “Second quarter revenue was up 3% year over year despite ongoing headwinds related to smaller cattle herd sizes that have reduced beef verification activity. The revenue increase was driven by increasing demand for our other verification services, especially our CARE Certified and UpCycled programs, as well as an increase in hardware sales due to growing customer preferences for value-add tags,” said John Saunders, chairman and CEO. “Our gross margins were negatively impacted by increased compensation expense due to a very competitive labor market as well as increased costs of hardware. Second quarter net income, inclusive of a $172,000 gain in fair market value of digital assets, was up 15% year over year to $562,000, or $0.11 per share.”