Dogness Announces OEM Order from International Pet Specialty Retailer
December 07 2020 - 8:30AM
Dogness International Corporation (“Dogness” or the “Company”)
(NASDAQ: DOGZ), a developer and manufacturer of a comprehensive
line of Dogness-branded, OEM and private label pet products,
announced an OEM order for certain pet products including harnesses
and leashes, expected to be valued at $4 million. The customer is
one of the world’s largest small format pet specialty retailers,
with more than 600 stores around the world.
Revenue will be recognized upon shipment, with
an initial shipment expected to occur over the next two weeks and
the balance shipped during calendar year 2021. The Company
anticipates recognizing the majority of sales during the fiscal
year ending June 30, 2021.
Silong Chen, Chairman and Chief Executive
Officer of Dogness, commented, “This is another major win for us
and underscores our business momentum, the attractiveness of our
broad line of high-quality pet products, and the effectiveness of
our sales and marketing teams. We implemented a more aggressive
strategy in order to capture a greater share of the opportunities
we are seeing. We believe the pet market is in a period of
sustained expansion, as we benefit from positive tailwinds from
COVID-19 driving increased pet ownership, along with a shift in
demographics to owners with higher disposable income that are
prioritizing pet ownership and spending on their pets. These trends
bode well for our business given our market leadership, commitment
to innovation and strong distribution and partner network.”
About
DognessDogness (International)
Corporation was born in 2003 from the belief that pet dogs and cats
are important, well-loved family members. Through its smart
products, hygiene products, health and wellness products, and leash
products, Dogness is able to simplify pet lifestyles, make them
more scientific, and enhance the relationship between pets and pet
caregivers. The Company ensures industry-leading quality through
its fully integrated vertical supply chain and world-class research
and development capabilities, which has resulted in over 200
patents and patents pending. Dogness products reach families
worldwide through global chain stores and distributors. For more
information, please visit: ir.dogness.com.
Forward Looking StatementsNo
statement made in this press release should be interpreted as an
offer to purchase or sell any security. Such an offer can only be
made in accordance with the Securities Act of 1933, as amended, and
applicable state securities laws. Certain statements in this press
release concerning our future growth prospects are forward-looking
statements regarding our future business expectations intended to
qualify for the “safe harbor” under the Private Securities
Litigation Reform Act of 1995, which involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding lingering effects of
the Covid-19 pandemic on our customers’ businesses, our ability to
raise capital on any particular terms, fulfillment of customer
orders, fluctuations in earnings, fluctuations in foreign exchange
rates, our ability to manage growth, our ability to realize revenue
from expanded operation and acquired assets in China and the U.S.,
our ability to attract and retain highly skilled professionals,
client concentration, industry segment concentration, reduced
demand for technology in our key focus areas, our ability to
successfully complete and integrate potential acquisitions, and
unauthorized use of our intellectual property and general economic
conditions affecting our industry. Additional risks that could
affect our future operating results are more fully described in our
United States Securities and Exchange Commission filings. These
filings are available at www.sec.gov. Dogness may, from time to
time, make additional written and oral forward-looking statements,
including statements contained in the Company's filings with the
Securities and Exchange Commission and our reports to shareholders.
In addition, please note that any forward-looking statements
contained herein are based on assumptions that we believe to be
reasonable as of the date of this press release. The Company does
not undertake to update any forward-looking statements that may be
made from time to time by or on behalf of the Company unless it is
required by law.
For more information, please contact
Investor Relations:Global IR PartnersDavid PasqualeNew
York Office Phone: +1-914-337-8801DOGZ@globalirpartners.com
Dogness (NASDAQ:DOGZ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Dogness (NASDAQ:DOGZ)
Historical Stock Chart
From Sep 2023 to Sep 2024