InnerScope Hearing Technologies Inc. Reports An Increase of 175% in Profits & 495% Growth from its Direct-to-Consumer Hearing
November 26 2018 - 7:45AM
InvestorsHub NewsWire
InnerScope Hearing Technologies
Inc. Reports An
Increase of 175% in Profits &
495% Growth from
its Direct-to-Consumer
Hearing Aids Sales
Including Walmart.com
InnerScope reports profitable quarter and
progress in its online Hearing Aids Sales
through Walmart.com and
other Direct-to-Consumer sales
platforms.
ROSEVILLE, CA
--
November
26,
2018 -- InvestorsHub
NewsWire --
InnerScope
Hearing Technologies Inc. (OTCQB:
INND), a manufacturer and
distributor of hearing aids and related
hearing
products,
announced today a profitable
quarter
ended September 30, 2018 with a reported
175% increase of net
income compared to third
quarter 2017. ("Q3
2017").
Furthermore,
its
primary
initiative of direct to consumer online sales showed a
495%
increase, quarter-over-quarter for the quarter ended September 30,
2018 ("Q3
2018").
Matthew Moore, CEO, commented,
"Our tremendous
growth
this quarter is a function of our overall strategy of building and
broadening our multiple hearing aid sales distribution
platforms. InnerScope's
total
hearing
aid
sales
in all
sales platforms, including
all
the hearing aids sold,
but not delivered to the customer until
after Q3 2018
ended, realized
over
a
1000%
increase in
growth
for
Q3 2018
quarter-over-quarter
for the quarter ended
September 30, 2018, continued Mr.
Moore.
"We are very excited
about what's happening right now in the industry. We see a big
shift starting to happen with the senior population going to the
Internet to purchase hearing aids. Since InnerScope
has
teamed up with Walmart.com as a Walmart.com
hearing aid vendor, seniors are more willing to purchase hearing
aids online than ever before from a name like Walmart, a
well-established and trusted name. Given the fact, that
Walmart
U.S. eCommerce sales grew 43% in Q3
2018, according to
Walmart's Q3 2018 report, we
expecting our online hearing aid sales to continue to grow at the
same pace of Walmart's U.S. eCommerce sales. We are finding talking
to seniors everyday, they are excited that they can now buy high
quality hearing aids from Walmart.com online and save thousands of
dollars without the need, cost or hassle for them to see a hearing
healthcare professional." Mr. Moore concluded.
About InnerScope Hearing Technologies
("INND")
InnerScope Hearing
Technologies (INND) is a rapidly expanding
consolidator of the hearing aid industry. Management is applying
decades of profitable
industry experience and
technology to an antiquated and disjointed industry, unlocking
scale and efficiency,
which will serve all
of InnerScope's
stakeholders. Its
direct-to-consumer
model is revolutionizing the industry with its Walmart.com
relationship representing a paramount shift in the consumption of
hearing aids by
the
hearing impaired.
In
addition InnerScope
plans
to continue
to
open,
acquire,
and operate
a
physical
chain
of audiological and
retail hearing device clinics. InnerScope's
mission
is to serve approximately
1.2 billion people around the globe that are suffering with 25 db
or greater hearing loss across the entire
hearing impaired vertical from R&D and manufacturing through
direct consumer sales and services. For more information,
please visit: www.innd.com
Safe Harbor
This
presentation contains forward-looking statements,
which relate to future
events or InnerScope Hearing Technologies future performance or
financial condition. Any statements that are not statements of
historical fact (including statements containing the words
"believes," "should," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to
be forward-looking statements. These forward-looking statements are
not guarantees of future performance, condition or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as
result of a number of factors, including those described from time
to time in InnerScope Hearing Technologies filings with the
Securities and Exchange Commission. InnerScope Hearing Technologies
undertakes no duty to update any forward-looking statements made
herein.
Contact
InnerScope Hearing
Technologies,
Inc.
Investor
Relations
Info@innd.com
916-218-4100
www.innd.com
Walmart
U.S. eCommerce sales grew 43% in Q3 2018
InnerScope Hearing
Technologies Products on Walmart.com:
https://www.walmart.com/col/390425824
www.nohasslehearing.com