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FOR IMMEDIATE RELEASE TSX VENTURE : HTL ● ● BEVERLY , MA and TORONTO , Ontario - November 22 , 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 nine months ended September 30 , 2021 . Highlights ● ● HAMILTON THORNE REPORTS FINANCIAL AND OPERATIONAL RESULTS FOR THE QUARTER - ENDED SEPTEMBER 30 , 2021 Revenues up 30 % ; Adjusted EBITDA up 22 % for the quarter ; Revenues up 33 % and Adjusted EBITDA up 67 % for the nine - month period HAMILTON THORNE Sales increased 30 % year over year to $ 12.7 million for the quarter and increased 33 % to $ 36.7 million for the nine - month period ; constant currency increase of 24 % for the quarter and 28 % for the nine - month period Gross profit increased 23 % to $ 6.0 million for the quarter and 31 % to $ 18.3 million for the nine - month period Net income was $ 249 thousand for the quarter and $ 1.6 million for the nine - month period , versus $ 459 thousand and $ 10 thousand in the prior year periods Adjusted EBITDA increased 22 % to $ 2.0 million for the quarter and 67 % to $ 6.8 million for the nine - month period Organic growth in USD was 16 % for the quarter , 11 % in constant currency ; organic growth was 28 % for the nine - month period , 21 % in constant currency Cash generated from operations was $ 549 thousand for the quarter , and $ 3.8 million for the nine - month period ; total cash on hand at September 30 , 2021 was $ 18.0 million " Our third quarter highlighted the continued strength of our business , " stated David Wolf , President and Chief Executive Officer . “ Sales of $ 12.7 million reflects a record quarter and were up 30 % versus the third quarter of 2020. Sales of $ 36.7 million for the nine months increased 33 % over the prior year . Looking at our growth excluding the impact of Covid - 19 and acquisitions , we grew sales organically at compounded annual growth of approximately 16 % for the third quarter of 2021 versus the pre - pandemic third quarter of 2019. " Statements of Operations : Sales Gross profit Operating expenses Net income ( loss ) Adjusted EBITDA Basic earnings per share Diluted earnings per share Three- and Nine - Month Periods Ending September 30 Three Months 2021 Nine Months 2020 $ 12,685,066 $ 9,793,572 6,020,724 4,909,228 5,553,997 4,199,819 249,319 459,289 2,034,466 1,668,075 $ 0.00 $ 0.00 $ 0.00 $ 0.00 2021 2020 $ 36,731,264 $ 27,521,207 18,291,833 13,921,632 15,760,895 12,516,473 1,597,613 6,801,110 $ 0.01 $ 0.01 10,348 4,068,950 $ 0.00 $ 0.00