Sunora Foods earns $66,560 in Q1 2017
2017-05-30 07:59 MT - News Release
Mr. Dean Stuart reports
SUNORA FOODS ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
Sunora Foods Inc. has filed its financial statements and management discussion and analysis for the period ended March 31, 2017. These filings are available for review on SEDAR and the corporation's website.
During the fiscal year ended March 31, 2017, Sunora's highlights include the following:
Revenue of $3,480,230 for the first quarter of 2017 versus revenue of $2,687,379 for the comparable first quarter of 2016, an increase of 29.5 per cent;International sales of $526,157 for in the first quarter of 2017 versus international sales of $284,251 for the comparable first quarter of 2016, due to increased distribution and increased demand for healthy foods in Asia;Net income for the period ended March 31, 2017, of $66,560 versus net income of $24,971 for the comparable period ended March 31, 2016, an increase of 167 per cent;Cash and cash equivalents of $3,133,920 and working capital of $3,942,885 at the end of the first quarter of 2017.
FINANCIAL HIGHLIGHTS Period ended March 31, 2017 Sales $3,480,230 Gross margin $232,734 Income before taxes $91,178 Net income $66,560 Earnings per share $0.002
About Sunora Foods Inc.
Sunora Foods is a food oil entity based in Calgary, Alta., 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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