Sunora Foods Announces 2018 Quarter 1 Financial Results
May 29, 2018 / TheNewswire / Calgary, Alberta - 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 three-month period ending March 31, 2018. These filings are available for review on SEDAR and the Corporation’s website.
During the three-month period ended March 31, 2018 Sunora’s highlights include the following:
-
- Revenue of $3,936,012 for the 2018 Quarter 1 versus revenue of $3,480,230 for the comparable 2017 first quarter, an increase of 13.1%;
- Net Income for the three-month period ending March 31, 2018 of $106,130 versus net income of $66,560 for the comparable period ending March 31, 2017, an increase of 59.5%;
- Income from operations for the three-month period ending March 31, 2018 of $147,064;
- International sales of $910,522 for the 2018 first quarter versus international sales of $526,157 for the comparable period, an increase of 73.1%;
- Cash and Cash Equivalents of $3,118,936 for the period ending March 31, 2018;
- After the end of the first quarter, Sunora initiated a significant commodity-related business with a major Asian company in the agricultural sector.
Financial Highlights
|
Period ending March 31, 2018 |
|
|
Sales |
$3,936,012 |
|
Gross Margin |
$281,762 |
|
Income before Taxes |
$155,334 |
|
Net Income |
$106,130 |
|
Earnings Per Share |
$0.0025 |
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.