Sugarmade Expecting Record June Quarter Revenue on New Products
- Announces Preliminary March Quarter Revenue Results
City of Industry, Calif., April 26, 2017
Sugarmade, Inc. (OTC:SGMD),
today provides investors with an outlook for the current fourth
fiscal quarter ending June 30, 2017 and makes comments relative to
preliminary revenue results for the recently ending March Quarter.
Based on current revenue growth rates, Sugarmade is expecting to
report record revenue for the three-month period ending June 30,
2017. The anticipated increase is being driven by continued
strong sales to the Companys legacy customer base and orders for
new products, including the Companys recently introduced transport
and storage products.
For the quarter ending March 31, 2017, the Company expects to
report revenues of approximately $900,000, which would represent an
increase of approximately 9% comparative to the March 31, 2016
quarter.
Jimmy Chan, CEO, commented, We are very pleased with revenue
trajectory thus far in 2017. Our new transport products are
receiving strong interest allowing us to increase our factory
orders with sell through gaining strength. Sugarmade plans to make
a formal product availability announcement during early May for
Sriracha Stix, which are encapsulated Huy Fong Sriracha Sauce and
other seasonings in the form of a stick which are inserted into
meat, fish and poultry prior to cooking. The Company expects
to begin marketing of the new product on May 9, 2017. We are
expecting strong revenues from the Sriracha Stix product as
interest has been nothing short of phenomenal.
About Sugarmade, Inc. (OTC:SGMD)
Sugarmade, Inc. is a product and brand marketing company
investing in products and brands with disruptive potential.
The Company is an official licensee of Irwindale,
California-based Huy Fong Foods, Inc., the maker of Sriracha Hot
Chili Sauce. Sugarmades other brands include CarryOutSupplies.com, Sugarmade Tree Free Paper and
the FreeHand ThumbTray. For more information on the Company's
products, please visit www.Sugarmade.com.
FORWARD-LOOKING STATEMENTS: This release contains
"forward-looking statements" within the meaning of the safe harbor
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements also may be included in other
publicly available documents issued by the Company and in oral
statements made by our officers and representatives from time to
time. These forward-looking statements are intended to provide
management's current expectations or plans for our future operating
and financial performance, based on assumptions currently believed
to be valid. They can be identified by the use of words such as
"anticipate," "intend," "plan," "goal," "seek," "believe,"
"project," "estimate," "expect," "strategy," "future," "likely,"
"may," "should," "would," "could," "will" and other words of
similar meaning in connection with a discussion of future operating
or financial performance. Examples of forward looking statements
include, among others, statements relating to future sales,
earnings, cash flows, results of operations, uses of cash and other
measures of financial performance.
Because forward-looking statements relate to the future, they
are subject to inherent risks, uncertainties and other factors that
may cause the Company's actual results and financial condition to
differ materially from those expressed or implied in the
forward-looking statements. Such risks, uncertainties and other
factors include, among others such as, but not limited to economic
conditions, changes in the laws or regulations, demand for products
and services of the company, the effects of competition and other
factors that could cause actual results to differ materially from
those projected or represented in the forward looking
statements.
Any forward-looking information provided in this release should
be considered with these factors in mind. We assume no obligation
to update any forward-looking statements contained in this
report.
For inquiries please contact Jimmy Chan at (888) 982-1628 or
info@Sugarmade.com.