ALPHA, N.J., April 15, 2021 /PRNewswire/ -- Today, OMID Holdings, Inc. (OTC Pink: OMID) has completed an initial financial review of its first quarter operations. The Unaudited Key Financial Highlights are provided below for the Three Months Ended March 31, 2021.
Revenue for the current period was $278,124 compared to $21,108 for the three months ended March 31, 2020, a 1217.6% improvement from the same quarter in 2020.
Gross Profit for the current period was $139,126, compared to $3,880 for the three months ended March 31, 2020, a 3485.7% improvement from the same quarter in 2020.
Net income before income taxes for the current period was $47,526, compared to a loss of $20,896 for the same period last year, a 327.4% improvement.
"The first quarter of each year has been historically challenging due to a variety of seasonal factors including but not limited to supplier holidays as well as the implementation of new industry regulations and laws. Our results for the first quarter of 2021 have been very encouraging as we continue to execute on our long-term vision for the future of the company. We remain well-positioned and eagerly await the opportunity to take advantage of the evolving recreational cannabis industry in NJ," stated Adam Frank, OMID's Chairman & CEO.
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