Dewmar International Reports 24% Sequential Revenue Growth and Projects Almost $5 Million In Revenue for 2018
HOUSTON, TX--(Marketwired - Aug 21, 2017) - Dewmar International BMC, Inc. ( OTC PINK : DEWM ) is pleased to announce that it has achieved 24% sequential revenue growth for the period ended June 30, 2017 as compared to the period ended March 31, 2017. For the period ended June 30, 2017, Dewmar International reported revenues of $260,524 as compared to revenues of $210,215 for the period ended March 31, 2017.
During the second quarter of 2017, Dewmar experienced a one-time six figure expense related to the application process for medical marijuana licensure in Louisiana. Also, during this period the company also incurred a one-time six figure expense related to the re-launch of Willie's Duck Diner. Without these two major expenses, Dewmar International would have been profitable for the quarter. For full year 2018, Dewmar International projects revenue of almost $5 million.
According to the economic development coordinator for the City of West Monroe, the industry averages for restaurants the size of Willie's Duck Diner within the "restaurant row" corridor just off the Monroe area Interstate 20 is approximately $4 million annually. The Company anticipates achieving this number primarily due to an influx of tourists who plan to visit the new Duck Commander the Experience exhibit located at the Duck Commander headquarters less than a mile away from the diner which is expected to bring in approximately 800 bus visits annually via the Louisiana Association of Convention & Visitors Bureaus.
Additionally, for 2018, Dewmar is expecting continued growth from the Kush Cakes brand, healthcare services and hemp products. The company is also expecting continued growth in Lean with additional placement in Walmart stores in the Spring of 2018 which is the topic of discussion on an upcoming call on September 5th with the new Walmart Beverage Buyer. In 2018, revenues from the company's entertainment assets will begin to contribute to overall revenues with continued growth and accelerated growth from entertainment assets through 2020. "I believe $5 million in 2018 annual revenue to be a conservative projection for Dewmar based upon the multiple business ventures we've established that are currently producing measurable revenue streams," says Dr. Marco Moran, CEO of Dewmar International. "In fact, these projections don't take into account the possible contributions from future planned acquisitions or the inclusion of any new medical marijuana licenses or permits that we are attempting to receive this year for implementation in 2018,"
Dr. Moran concluded.
Link to 8/21/17 PR: https://finance.yahoo.com/news/dewmar-international-reports-24-sequential-162335755.html