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FOR IMMEDIATE RELEASE TSX VENTURE : HTL Revenues up 71 % to $ 12.5 million ; Adjusted EBITDA up over 300 % to $ 2.45 million BEVERLY , MA and TORONTO , Ontario - August 18 , 2021 - Hamilton Thorne Ltd. ( TSX - V : HTL ) , a leading provider of precision instruments , consumables , software and services to the Assisted Reproductive Technologies ( ART ) , research , and cell biology markets , today reported unaudited financial and operational results for the quarter and six months ended June 30 , 2021 . Highlights ● HAMILTON THORNE REPORTS FINANCIAL AND OPERATIONAL RESULTS FOR THE QUARTER - ENDED JUNE 30 , 2021 ● HAMILTON THORNE Sales increased 71 % year over year to $ 12.5 million for the quarter ; sales for the six - month period increased 36 % to $ 24 million ; constant currency increase of 62 % for the quarter and 29 % for the six month period Gross profit increased 69 % to $ 6.4 million for the quarter ; increased 36 % to $ 12.3 million for the six month period Net income was $ 482 thousand for the quarter and $ 1.35 million for the six - month period , versus net losses of $ 594 thousand and $ 449 thousand in the prior year periods Adjusted EBITDA increased 334 % to $ 2.45 million for the quarter and 99 % to $ 4.77 million for the six month period Organic growth in USD was 70 % , 61 % in constant currency ; 35 % organic growth for the six - month period , 29 % in constant currency Cash generated from operations was $ 1.7 million for the quarter , and $ 3.2 million for the six - month period ; total cash on hand at June 30 , 2021 was $ 20.6 million " Our solid start to the year continued in the second quarter , " stated David Wolf , President and Chief Executive Officer . " Sales of $ 12.5 million was a record quarter for us , and was up over 70 % versus the second quarter of 2020 , which we all know was meaningfully impacted by slowdowns related to Covid - 19 . Sales of $ 24 million for the six months increased 36 % over the prior year . We were pleased to see our adjusted EBITDA results rebound to 19.6 % of sales in Q2 , and 19.8 % of sales for the six - month period . " Statements of Operations : Sales Gross profit Operating expenses Net income ( loss ) Adjusted EBITDA Basic earnings per share Diluted earnings per share Three and Six - Month Periods Ending June 30 Three Months Six Months 2021 2021 2020 $ 12,527,310 $ 7,332,559 6,395,437 3,789,611 5,600,087 4,075,644 482,419 ( 594,343 ) 2,449,574 573,150 $ 0.00 $ 0.00 ( $ 0.00 ) ( $ 0.00 ) 2020 $ 24,046,198 $ 17,727,635 12,271,109 9,012,405 10,206,897 8,316,654 1,348,294 ( 448,941 ) 4,766,644 2,400,875 $ 0.01 $ 0.01 ( $ 0.00 ) ( $ 0.00 )