Sunora Foods earns $106,130 in Q1 2018
2018-05-29 09:19 MT - News Release
Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES 2018 QUARTER 1 FINANCIAL RESULTS
Sunora Foods Inc. has released its financial statements and management's discussion and analysis for the three-month period ending March 31, 2018. These filings are available for review on SEDAR and the company'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 sa les 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
Sales $3,936,012
Gross margin 281,762
Income before taxes 155,334
Net income 106,130
Earnings per share 0.0025
About Sunora Foods
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.
© 2018 Canjex Publishing Ltd. All rights reserved.
