Monday, February 27, 2012 5:21:49 PM
Tesoro Enterprises, Inc. (TSNP:PK) today announced the publishing of its Fiscal 2011 Financial Statements. Net Sales for the twelve months ending December 31, 2011 were $599,002 compared to $341,514 for the twelve month period ended December 31, 2010, an increase of $257,788 or 75%.
Gross margin for the twelve months ended December 31, 2011 was $152,763 compared to $115,360 for the twelve months ended December 31, 2010, an increase of $37,402 or 32%. Operating expenses for the twelve months ended December 31, 2011 were $407,917 compared to $410,876, a decrease of $2,959 relatively unchanged despite the doubling of our retail space with the addition of a second store in January 2011. Net loss for the twelve months ended December 31, 2011 was $(279,289) compared to $(309,032) for the twelve months ended December 31, 2010, a decrease of $29,743 or 9.6%. The loss for the twelve months ended December 31, 2011 reflects primarily the start up time for the new retail location.
Henry Boucher, Tesoro's CEO, said he is pleased that the company finished the year with strong sales momentum. He added that net sales for the three months ended December 31, 2011 were $158,002 compared to $63,514 for the three months ended December 31, 2010, an increase of $94,488 or 150%. Mr. Boucher also stated that, even though the winter is our slowest time, if the sales momentum holds, we should be close to breakeven in the first quarter of 2012. We look for improving sales in the retail locations and added contribution from our e-commerce business.
Forward-Looking Statements
Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. Actual events could differ materially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on the forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the Securities and Exchange Commission.
Recent HMBL News
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 02:19:41 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 01/03/2024 05:00:32 PM
- Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 12/06/2023 09:05:30 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/25/2023 01:00:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/13/2023 09:20:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/31/2023 01:15:12 PM
- Form 1-A - Offering Statement [Regulation A] • Edgar (US Regulatory) • 08/22/2023 07:48:47 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 09:14:03 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/04/2023 08:53:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/20/2023 09:15:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/20/2023 09:15:09 PM
- Form DEF 14C - Other definitive information statements • Edgar (US Regulatory) • 06/30/2023 08:35:16 PM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM