April 26, 2018 — (Vancouver, BC)good natured Products Inc. (the “Company” or “good natured®”) (TSX-V: GDNP), today announced its financial year end results for the 10 months ended December 31, 2017 (“YE2017”). The Company announced on January 9, 2018 a fiscal year-end change from February 28th to December 31st. With this change, YE2017 began on March 1, 2017 and ended December 31, 2017.
- Revenues for the ten months ended December 31, 2017 increased 20% to $2,478,956 compared to $2,066,061 for the twelve months ended February 28, 2017. For comparative purposes, the unaudited revenue for the twelve months ending February 28, 2018 was $3,129,839, an increase of 51% over the twelve months ending February 28, 2017.
- Gross profit for the ten months ended December 31, 2017 was $762,397 compared to $634,884 for the twelve months ended February 28, 2017. Gross profit as a percentage of sales was 31% in both the ten months ended December 31, 2017 and the twelve months ended February 28, 2017.
- SG&A for the ten months ended December 31, 2017 was $2,762,882 compared to $2,896,629 for the twelve months ended February 28, 2017. SG&A expenditures, minus variable outsourced supply chain and fulfillment costs, decreased by 9% for the ten months ended December 31, 2017 compared to the twelve months ended February 28,2017.
- For the ten months ended December 31, 2017, the Company incurred a net loss before other items of $2,932,069 compared to a net loss of $3,565,638 for the twelve months ended February 28, 2017.
“Our team’s sales execution drove a strong finish to 2017, delivering another quarter of record year over year revenue growth to over $3.1 million,” said Paul Antoniadis, CEO of good natured®. “The recent closing of financing of more than $5.0 million puts GDNP in a solid working capital position to accelerate growth in the current year.”
The Company plans to announce its FY2018 first quarter results from January 1, 2018 to March 31, 2018 in May 2018.
The Company’s audited year end financial statements and Management’s Discussion and Analysis are available on SEDAR at: www.sedar.com.
View the good natured® corporate profile.
About good natured Products Inc.
With over 100 plant-based food packaging designs, 10 grades of bioplastic rollstock sheets, 30 home & business organizational products and a world class team of scientists, business builders and retailers, good natured® is producing and distributing one of North America’s widest assortments of consumer products and packaging made from the highest possible percentage of renewable, plant-based materials and no BPAs, phthalates or other chemicals of concern.
Committed to doing what’s right for the planet and right for business, good natured® is creating better everyday products® that combine cutting-edge bioplastic technology and the latest sustainable design features that not only look good, but maximize shelf space, drive incremental sales, enhance logistics and boost environmental benefits, all bundled up in a fresh and friendly brand.
For more information, see our investor site.
On behalf of the Company:
Paul Antoniadis – Chief Executive Officer and Board Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.