Sunora Foods Announces 2017 Year End Financial Results
CALGARY, ALBERTA / TheNewswire / April 27, 2018 - Sunora Foods Inc. (the “Corporation”) (TSX-V: SNF) – is pleased to announce the filing of its financial statements and management discussion and analysis for the fiscal year ending December 31, 2017. These filings are available for review on SEDAR and the Corporation’s website.
During the fiscal year ended December 31, 2017 Sunora’s highlights include the following:
-Revenue of $13,935,676 for the 2017 fiscal year versus revenue of $12,240,283 for the comparable 2016 fiscal year;
-International sales of $2,614,794 for the 2017 fiscal year versus international sales of $2,691,977 for the 2016 fiscal year;
-Trade dispute settled for $434,684, including estimated legal costs;
-Income from operations for the period ending December 31, 2017 of $238,065;
-Net Income for the period ending December 31, 2017 of ($121,636) versus net income of $282,794 for the comparable period ending December 31, 2016;
-Cash and Cash Equivalents of $3,214,699 for the period ending December 31, 2017 versus $3,353,921 for the comparable period ending December 31, 2016.
Financial Highlights
|
Period ending December 31, 2017 |
|
|
Sales |
$13,935,676 |
|
Gross Margin |
$944,540 |
|
Income before Taxes |
($172,818) |
|
Net Income |
($121,636) |
|
Earnings Per Share |
($0.003) |
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the “Sunora”, “Sunera” and numerous private label brands.
For further information, please contact:
Dean Stuart
Investor Relations
T: (403) 617-7609
Steve Bank
Chief Executive Officer and President
T: (403) 247-8300
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.