VANCOUVER, BC, Jan. 12, 2021 /CNW/ - good natured Products Inc.
(the "Company" or "good natured®") (TSXV: GDNP), a
North American leader in plant-based products and packaging, today
announced preliminary revenue and gross margin estimates for the
fiscal quarter ending December 31,
2020 ("Q4 2020") and for the fiscal year ending December 31, 2020 ("FY2020").
Preliminary revenue for FY2020 is anticipated at $16.4 million to $16.7
million, an increase of 62% to 65% compared with the year
ended December 31, 2019. Gross
margins for FY2020 are estimated between 35.5% and 37.5% compared
to 34.4% for the year ended December 31,
2019. The Company expects to release its audited FY2020
financial results in April 2021.
Reported revenue for Q4 2020 is expected to be between
$5.0 million to $5.3 million, an increase of 98% to 110% compared
with the fiscal quarter ended December 31,
2019. Gross margin for Q4 2020 is estimated between 34% and
36% compared to 33.1% for the fiscal quarter ended December 31, 2019.
"We ended 2020 on a very strong note, with revenues doubling
year-over-year in Q4 2020 and gross margins remaining strong,"
stated Paul Antoniadis, CEO of good natured®. "Our team and
partners demonstrated their commitment and executed extremely well.
We completed two highly strategic and accretive acquisitions,
delivered material organic growth from net new customers and added
to our product assortment to drive cross-selling opportunities to
our existing customer base. These accomplishments, amidst
unprecedented macro-economic conditions, shows the value creation
inherent in our business model and positions the Company for strong
growth in 2021 and beyond."
The preliminary results set forth above are based on an initial
review of the Company's operating and financial results for the
fourth quarter and fiscal year ended December 31, 2020 and are subject to change.
Final reported results could differ from these preliminary results
following the completion of year-end accounting procedures, final
adjustments and other developments arising between now and the time
that the Company's financial results are finalized, and such
changes could be material. The Company's independent auditor,
Deloitte LLP, has not audited, reviewed or performed any procedures
with respect to the accompanying preliminary financial results and
other data, and accordingly does not express an opinion or any
other form of assurance with respect thereto. The preliminary
results have been prepared by, and are the responsibility of, the
Company's management, and were approved by management on
January 8, 2021. In addition, these
preliminary results are not a comprehensive statement of the
Company's financial results for the quarter and fiscal year ended
December 31, 2020. They should not be
viewed as a substitute for audited financial statements prepared in
accordance with International Financial Reporting Standards and are
not necessarily indicative of the Company's results for any future
period.
The good natured® corporate profile can be found at:
investor.goodnaturedproducts.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 regarding preliminary revenue results contained
in this press release may constitute 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
statement.
The financial outlook provided in this press release is
provided to provide early guidance on the fourth quarter and fiscal
year financial performance of the Company and readers are cautioned
that this information may not be appropriate for any other purpose.
In preparing the financial outlook, the Company completed an
initial review of operations for the quarter and fiscal year ended
December 31, 2020, however actual
results may differ materially from the financial outlook provided
in this press release as the financial outlook has not been audited
or reviewed. 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 herein 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, 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