Healthier Choices Management Corp. Reports Second Quarter 2017 Financial Results
2017-07-25 04:45:00 PM ET (PR Newswire)
Healthier Choices Management Corp. (OTC Pink: HCMC) today announced financial results for the three-month period ended June 30, 2017.
Second Quarter 2017 Results and Recent Highlights:
-- Gross profit from continuing operations increased by approximately $606,000 for the three-month period ended June 30, 2017; amounting to $1,673,107, compared to $1,066,782 for the same period last year
-- Gross margin percent improved to 50.6% up from 47.9% for the same period last year; the second consecutive quarterly improvement.
-- Operating expenses as a percent of sales decreased 59% versus prior year, reflecting the continued reduction of corporate administrative expenses
-- Adjusted EBITDA Improvement of roughly $2.6M; Year-Over-Year.
Jeffrey Holman, Chairman and Chief Executive Officer of Healthier Choices Management Corp., said, "We are both pleased and proud of our performance in the second quarter. Our team delivered gross profit growth as well as a remarkable improvement in our adjusted EBITDA results for the quarter." Mr. Holman went on to comment, "Our strategic vision for our company remains clear. The progress to date, including our solid second quarter results, gives us continued confidence in our direction. We are committed to continuing to build a nimble and scalable business model to support long-term, sustainable growth for Healthier Choices Management Corp."
About Healthier Choices Management Corp.
Healthier Choices Management Corp. is a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives. One segment of our business is our natural and organic grocery operations in Ft. Myers, Florida. The other segment is a U.S. based retailer of vaporizers and e-liquids. Healthier Choices Management Corp. sells direct to consumer via company-owned brick-and-mortar retail locations operating under "Ada's Natural Market" and "The Vape Store" brands.
Healthier Choices Management Corp. Inc. (www.healthiercmc.com).
