Deep Down, Inc’s (DPDW.OB) 3rd Quarter 2008 Revenues Skyrocket On Two Key Acquisitions
One of the ways companies experience revenue growth is by buying other companies. For the 3rd Quarter 2008, Deep Down, Inc. reaped the fruit of this strategy as its revenues shot up from its acquisitions of Mako Technologies, LLC and Flotation Technologies, Inc. For the 3 month period ending September 30, 2008, gross revenue was $11.7 million, compared with $6.8 million for the same period in 2007. The purchases of Mako and Flotation Technologies accounted for $8.5 million, or 73%, of Deep Down’s 3rd Quarter revenues. The purchases of Mako and Floatation Technologies also gave Deep Down’s gross profit a…