SNF.V - Sunora Foods Inc. (SNF)

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Sunora Foods earns $82,525 in Q2 2017

2017-08-29 08:06 MT - News Release

Mr. Dean Stuart reports

SUNORA FOODS ANNOUNCES SECOND QUARTER FINANCIAL RESULTS

Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the second quarter ending June 30, 2017. These filings are available for review on SEDAR and the corporation's website.

During the second quarter ended June 30, 2017, Sunora's highlights include the following:

-Revenue of $3,164,688 for Q2 2017 versus revenue of $2,835,773 for the comparable Q2 2016, an increase of 11.6 per cent;
-International sales of $567,204 for in Q2 2017 versus international sales of $574,619 for the comparable Q2 2016;
-Net income from operations for the three-month period ending June 30, 2017, of $82,525;
-Trade dispute settled for $434,684, including estimated legal costs;
-Net comprehensive income after settlement of trade dispute of negative $243,175 for the Q2 2017 period;
-Cash and cash equivalents of $3,356,010 and working capital of $3,709,554 at the end of Q2 2017.

FINANCIAL HIGHLIGHTS

Second quarter
ending June 30, 2017

Sales $3,164,688
Gross margin $253,684
Net income from operation $82,525
Net comprehensive income ($243,175)
Earnings per share ($0.006)
About Sunora Foods Inc.

Sunora Foods is a food oil entity based in Calgary, Alta., 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.

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