VANCOUVER, BC, Nov. 26, 2020 /CNW/ - good natured Products Inc.
(the "Company" or "good natured®") (TSXV: GDNP), a
North American leader in plant-based products and packaging, today
announced its financial results for the three months ("Q3 FY20")
and nine months ended September 30,
2020 ("YTD").
Key Highlights:
- Revenues for Q3 FY20 increased 47% to $4,659,270 compared to $3,178,495 for the three months ended
September 30, 2019. YTD revenues
increased 50% to $11.387,159 compared
to $7,571,920 for the nine months
ended September 30, 2019.
- Gross profit for the three and nine months ended September 30, 2020 was $1,749,673 and $4,486,442 respectively compared to $1,038,844 and $2,637,407 for the three and nine months ended
September 30, 2019, representing an
increase of 68% and 70% compared to the three and nine months ended
September 30, 2019. As a percentage
of sales, gross profit for the three and nine months ended
September 30, 2020 increased to 37.6%
and 39.4% versus 32.7% and 34.8% for the three and nine months
ended September 30, 2019.
- SG&A, excluding acquisition activity, for the three and
nine months ended September 30, 2020
was $1.986,364 and $4,851,102 compared to $1,262,332 and $3,347,569 for the three and nine months ended
September 30, 2019, representing an
increase of 57% and 45% compared to the three and nine months ended
September 30, 2019.
- The Company's EBITDA, a non-GAAP measure, loss in the three and
nine months ended September 30, 2020
was $333,943 and $682,195 compared to $348,899 and $1,058,650 for the three and nine months ended
September 30, 2019, an improvement of
4% and 36% respectively.
"Our third quarter results demonstrate the strength of our
business model, along with how our leading range of plant-based
products creates market demand," stated Paul Antoniadis, CEO of
good natured®. "We've grown to now serve over 400 recurring
business-to-business customers and are fulfilling over 18,000
direct-to-consumer transactions on an annualized basis. Our
continued investments in making it easy and affordable for
customers to switch from petroleum to plant-based products are
being very well received."
The good natured® corporate profile can be found at:
investor.goodnaturedproducts.com
The Company's Q3 FY2020 interim financial statements and
Management's Discussion and Analysis (MD&A) are also available
on SEDAR at sedar.com.
About good natured Products Inc.
good natured®
is producing and distributing one of North America's widest assortments of better
everyday products® made with the highest possible percentage of
renewable, plant-based materials and no BPAs, phthalates or other
chemicals of concern potentially harmful to human health and the
environment.
With a growing assortment of over 385 products and
services, good natured® creates eco-friendly home and
business products, food packaging, restaurant/take-out containers,
medical and industrial supplies designed to do good for the planet,
good for human health and good for business by driving incremental
sales, minimizing waste and reducing environmental impact, all
bundled up in a fresh and approachable brand.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibilities for the adequacy or
accuracy of this release.
Cautionary Statement Regarding Forward-Looking
Information
Information in this news release contains forward-looking
information within the meaning of securities laws. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements.
When relying on the Company's forward-looking statements and
information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties
and potential events. The Company has assumed that the material
factors referred to in the previous paragraph will not cause such
forward-looking statements and information to differ materially
from actual results or events. However, there can be no assurance
that such assumptions will reflect the actual outcome of such items
or factors.
Other than as required under securities laws, we do not
undertake to update this information at any particular
time.
Forward-looking information contained in this news release is
based on our current estimates, expectations and projections
regarding, among other things, sales volume and pricing which we
believe are reasonable as of the current date. The reader should
not place undue importance on forward-looking information and
should not rely upon this information as of any other date. All
forward-looking information contained in this news release is
expressly qualified in its entirety by this cautionary
statement.
SOURCE Good Natured Products