Hiru Corporation (HIRU)

[JMMatthews]

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The Alkaline Water Company Inc. (NASDAQ and CSE: WTER) (the “Company”), the country’s largest independent alkaline water company and the Clean Beverage® company, today announced it expects to report record revenue of $16.4-$16.6 million for the first quarter of fiscal year 2023. The projected double-digit year-over-year growth rate through the first quarter supports the Company’s full-fiscal-year guidance of $70 million.

“Even as The Alkaline Water Company focuses on a pathway to profitability, we anticipate Q1 to be our best sales quarter ever,” said Frank Lazaran, The Alkaline Water Company’s President and CEO. “We are not sacrificing topline growth as we work to enhance shareholder value by improving our bottom line. A record first quarter sets us firmly on track to deliver on our revenue guidance of $70 million this fiscal year."

On Tuesday of this week, the Company announced that it has identified an additional $2 million in cost-reductions and margin enhancements as part of their pathway to profitability. This brings the total benefits identified in the company-wide review to an estimated $7 million annually, once fully implemented.

"As economic headwinds persist and companies across various industries temper their expectations for this coming year, we are confident in our ability to continue to deliver strong year-over-year comps in fiscal 2023 because Alkaline88’s products, production, and distribution are stronger than ever," concluded Mr. Lazaran.

https://www.businesswire.com/news/home/20220727005153/en/The-Alkaline-Water-Company-Announces-Preliminary-Record-Sales-Results-for-First-Quarter-of-Fiscal-Year-2023

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