Sunora Foods earns $122,103 in Q3
2016-11-28 06:10 MT - News Release
Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES QUARTER 3 FINANCIAL RESULTS
Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the fiscal period ending Sept. 30, 2016. These filings are available for review on SEDAR and the Corporation's website.
During the fiscal period ended September 30, 2016 Sunora's highlights include the following:
-Net Income for the period ending September 30, 2016 of $122,103, the 4 th consecutive quarter of increasing net income.-Gross margin for the period ending September 30, 2016 of $328,982 or 10.0% on sales of $3,281,156.-Revenue of $3,281,156 for the 2016 Q3 versus revenue of $2,451,477 for the comparable 2015 Q3.-Cash and Cash Equivalents of $3,091,780 for the period ending September 30, 2016 versus $2,620,566 at the end of December 31, 2015.-Inventory of $687,014 for the period ending September 30, 2016; due to inventory of bulk oil for future orders.-Continued development of sales channels in China and Southeast Asia with international sales of $850,414, the highest in the Corporation's history. Financial Highlights Period ending September 30, 2016 Sales $3,281,156 Gross Margin $328,982 Income before Taxes$173,103 Net Income $122,103 Earnings Per Share $0.003 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.
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