REDHAWK ANNOUNCES NEW ORDERS TOP $12.0 MILLION
Revenues for Twelve Months Ended December 31, 2020 Increased More Than 1000%
LAFAYETTE, LA -- February 5, 2021 -- InvestorsHub NewsWire -- RedHawk Holdings Corp. (OTC: SNDD) ("RedHawk" or the "Company"), a diversified holding company primarily engaged in sales and distribution of medical devices and certain personal protection equipment, announced today gross revenues for the twelve month period ended December 31, 2020 were approximately $2.0 million, an increase of approximately $1.8 million over the comparable twelve month period ended December 31, 2019. Net revenues were approximately $1.7 million, more than 1000% higher than net revenues for the comparable twelve month period ended December 31, 2019. The Company's fiscal year end is June 30, and, therefore, these gross revenues and net revenues represent results from the Company's third and fourth fiscal quarters of the fiscal year ended June 30, 2020 together with the first and second fiscal quarters of the Company's current fiscal year.
The increases in gross revenues and net revenues during the twelve month period ended December 31, 2020 were primarily a result of greater sales of SANDD™, the Company's propriety line of needle incineration medical devices, and certain personal protection equipment. To date, increased sales of our medical products have continued after December 31, 2020. Currently, new orders for future sales of our medical devices and certain personal protection equipment now exceed $12.0 million with further increases possible as order quotations and inquiries appear strong.
Commenting on the projected revenues for the twelve month period ending December 31, 2021, G. Darcy Klug, RedHawk Chairman and Chief Financial Officer, said, "During the three month period ended December 31, 2020, we started the re-alignment our medical device marketing strategy to increase product awareness while meeting the demands of current market conditions and customer demands. Our medical products business unit continues to operate in a challenging workplace environment due to implemented COVID-19 protocols by hospitals, clinics, and other medical offices. Most of our target customers will not schedule in-person appointments with our sales representatives. This change in marketing strategy has been very successful to date and is expected to be fully completed during the three month period ending March 31, 2021."
