Sunora Foods earns $502,182 in 2015
2016-04-29 07:08 MT - News Release
Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES 2015 YEAR END FINANCIAL RESULTS
Sunora Foods Inc. has filed its financials statements and management discussion and analysis for the fiscal year ending Dec. 31, 2015. These filings are available for review on SEDAR and the corporation's website.
During the fiscal year ended Dec. 31, 2015, Sunora's highlights include the following:
Net income for the period ending Dec. 31, 2015, of $502,182 versus net income of $189,073 for the comparable period ending Dec. 31, 2014; an increase of 166 per cent.Gross margin for the period ending Dec. 31, 2015, of 10.7 per cent versus gross margin for the comparable period ending Dec. 31, 2014, of 7.0 per cent;Revenue of $10,815,959 for the 2015 fiscal year versus revenue of $13,235,038 for the comparable 2014 fiscal year;Cash and cash equivalents of $2,620,566 for the period ending Dec. 31, 2015, versus $1,784,147 for the comparable period ending Dec. 31, 2014;Appointment of Shawn Li to the position of manager, Asia;Appointment of Eric Dahlberg to the board of directors;Expansion of Sunora's portfolio of canola products into China;Agreement with major Asian trading partner for Sunora's portfolio of food oil products.
FINANCIAL HIGHLIGHTS Period ending Dec. 31, 2015 Sales $10,815,959 Gross margin $1,157,932 Income before taxes $661,082 Net income $502,182 Earnings per share $0.012
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