Oliveda International Inc (OLVI)

[adijas]

news out

Oliveda International, Inc. (OLVI) First Quarter 2019 Financial Report Shows 53% Income Growth


First quarter income increases 53% and gross profit up 83% over the corresponding period in 2018

SANTA MONICA, CA, May 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, has commented on the significant revenue growth reflected in its first quarter 2019 financial report and disclosure statement recently posted to the OTC Markets Group website at http://www.otcmarkets.com/stock/OLVI/disclosure.

In the revenue category, OLVI reported first quarter 2019 income of $1,242,648, as compared to $814,404 in the first quarter of 2018, an increase of 53%. At the same time, cost of sales decreased by 17%. As a result, gross profit grew to $1,036,357 in the first quarter, as compared to $565,938 in the same period in 2018, an increase of over 83%.

OLVI management believes its first quarter results support the company’s projection revenue growth in 2019 resulting from new products, growth in current markets, and expansion into new territories. The company is just now beginning to realize revenues from its recently launched operation in the U.S., and there is considerable capacity to grow in new markets in Asia and elsewhere around the world.

By posting its financial report and disclosure statement on the OTC Markets site within the required reporting period, OLVI is continuing its commitment to maintain timely disclosure for stockholders and interested investors.

“We are pleased to report that OLVI’s financial performance in the first quarter of 2019 exceeded our own expectations, and we are on track to meet or exceed our income targets for the entire year,” said Chairman and CEO Thomas Lommel. “In addition to maintaining this revenue growth, we plan to continue with our expansion into additional North American and Asian markets as well as entering new market sectors with our innovative wearable beauty and health products.”

Oliveda International also recently added Claudia Schwahlen, Oliveda’s General Manager, Europe, as the company’s Vice President. Ms. Schwahlen is very familiar with Oliveda’s company-wide processes, practices and developments and will provide insight and guidance as part of OLVI’s management team.