Skip to main content

Sunora Foods Quarter 3 2019 Financial Results

Tickers: XTSX:SNF
Tags: #Food&Beverage

November 29, 2019 - TheNewswire - Calgary, Alberta - Sunora Foods Inc. (the "Corporation" or "Sunora") (TSXV:SNF) announces the filing of its financial statements and management discussion and analysis for the fiscal period ending September 30, 2019. These filings are available for review on SEDAR and the Corporation's website.

For the three-month period ended September 30, 2019, Sunora's highlights include the following:

  • - Net Income for Q3 2019 of $73,766 versus net income for Q3 2018 of $99,654;

  • - Revenue for Q3 2019 of $2,875,992 versus revenue for Q3 2018 of $3,926,619;

  • - Gross Margin of $192,597 for Q3 2019 versus gross margin of $292,863;

  • - Cash of $3,178,647 as at September 30, 2019 compared to $3,535,161 as at December 31, 2018;

  • - Received first shipment of Medium Chain Triglyceride ("MCT") Oil for distribution from Calgary storage location.

Quarter 3 revenue was impacted by uncertainty related to international sales channels, specifically China. Sunora maintains strong ties with existing and potential customers in China and anticipates a resolution to current trade issues in 2020. Sunora also awaits orders for MCT Oil with the pending approval of licensed Cannabis producers to manufacture and distribute edible products.

Financial Highlights

Three-month period ending September 30, 2019

Sales $2,875,992

Gross Margin $192,597

Income before Taxes $79,946

Net Income $73,766

Earnings Per Share $0.002

About Sunora Foods

Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.

For further information, please contact:

Dean Stuart

Investor Relations

T: (403) 617-7609

E: dean@boardmarker.net

Steve Bank

Chief Executive Officer and President

T: (403) 247-8300

E: steve.bank@sunora.com

Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2019 TheNewswire - All rights reserved.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.