The commentary in the SYEV commentary is nice:
“The increase in sales to $2.3 million during the three months ended May 31, 2015 from $1.1 million during the three months ended May 31, 2014 (112%) is primarily due the launch of our pH2O product line, which increases the alkalinity of municipal water to between 8.0-9.5 pH. Sales during the three months ended May 31, 2015 of this product line were approximately $1.0 million, compared to nothing in the comparable period 2014. Additionally, we had one customer (who has not purchased any product from the pH2O line) that has developed a private label pitcher and bottle, and significantly increased their distribution line, with sales increasing from $46,000 during the three months ended May 31, 2014 to $576,000 during the three months ended May 31, 2015. As we expand our distribution of the pH2O product line, and continue to strengthen relationships with existing customers, we anticipate improvement in sales volume to continue into subsequent quarters.”
“The product mix and timing of significant sales is always a significant factor in the resulting profit margins reported. [b[The Company expects the gross margin percentages to remain at approximately 50% in the foreseeable future.”
“Additionally, as part of a strategic move to accommodate expected profitable sales growth, we leased additional space for our production and warehousing to a new location,...”
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