Healthier Choices Management Corp. Reports Second Quarter 2019 Financial Results
Produced an Impressive 16% Improvement in Sales and Gross Profit; Year-Over-Year
HOLLYWOOD, FL, Aug. 13, 2019 (GLOBE NEWSWIRE) -- Healthier Choices Management Corp. (OTC Pink: HCMC) today announced financial results for the three-month period ended June 30, 2019.
Second Quarter 2019 Results and Year-to-Date Highlights:
Net sales from operations for the three-month period ended June 30, 2019 amounted to $3.8 million, compared to $3.3 million during the same period last year -- a 16% increase. For the six-month period ended June 30, 2019, net sales amounted to $8.2 million versus $6.9 million for the same period last year; an increase of $1.3 million.
Gross profit from operations increased by approximately $230,000 for the three-month period ended June 30, 2019 amounting to $1.7 million, compared to $1.4 million for the same period last year – a 16% increase. For the six-month period ended June 30, 2019, gross profit amounted to $3.6 million versus $3.1 million for the same period last year; an increase of $490,000.
Net loss from continuing operations for the three-months ended June 30, 2019 was approximately $900,000 compared to $460,000 for the same period in 2018. For the six-month period ended June 30, 2019, net loss from continuing operations amounted to $2.0 million versus $1.7 million for the same period last year;
Jeffrey Holman, Chairman and Chief Executive Officer of Healthier Choices Management Corp., said, " Our results reflect the continued trajectory of year over year revenue and gross profit growth that we have now achieved for the second consecutive quarter. We are encouraged by our performance in the second quarter which gives us continued confidence in our direction.”
