EVIO Inc (EVIO)

[mary777]

Signal Bay Reports Record Q2 2017 Results
Testing Revenue up 1,700%: Total Revenue increased over 600%

May 23, 2017 05:30 ET | Source: Signal Bay Inc.
Bend, OR, May 23, 2017 (GLOBE NEWSWIRE) -- Signal Bay, Inc (OTCQB:SGBY), a provider of quality control testing and advisory services to the regulated cannabis industry, reported financial results for the quarter ended March 31, 2017.

Second Quarter Fiscal 2017 Financial Summary

Signal Bay’s Q2 2017 revenue up 125% from Q1 2017;
Signal Bay’s Q2 2017 revenue up 696% compared to Q2 2016;
EVIO Labs testing division revenue increased 1,762% compared to Q2 2016;
Signal Bay’s Q2 2017 gross margin up 279% from Q1 2017.
Executive Commentary

“We are very pleased to report to our shareholders another consecutive quarter of record revenues, up 125% from the previous quarter.” commented Signal Bay Inc. CEO William Waldrop, “These amazing results are a validation of our Compliance Science scalable business model, as the consumer demand for clean cannabis products tested by independent, accredited analytical labs continues to exceed even our internal revenue projections. We continue to see strong demand for our EVIO Labs analytical testing services in Oregon and California, while we generated advisory services revenue derived from preparing applications in both Pennsylvania and Texas this past quarter.”

Mr. Waldrop continued, “During the past six months, the company has experienced tremendous growth. As we prepare our expansion of the EVIO Labs division into California and across the country, we are working to improve our operating margins. The integration of recently purchased equipment in the upcoming quarter will reduce our cost of revenue and improve operating margins. Most importantly, new equipment will reduce our clients’ turnaroundtime which improves customer service while maintaining the accurate testing results they have come to rely on.”

Signal Bay Inc. company updates available: [e-mail] subject: EVIO

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