CHICAGO, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. ("the Company") (OTCQB: COSM), an international
pharmaceutical company, announced financial results for the quarter ended June 30, 2018.
Financial Highlights for the three months ended June 30, 2018:
- Revenues were $8.8 million, a 45% increase, as compared to $6.1 million for the same period the prior year.
- Gross profit was $702 thousand, a 46% increase, as compared to $480 thousand for the same period the prior year.
- Net profit was $782 thousand for the three months ended June 30, 2018, as compared to net loss of $839 thousand for the same
period the prior year.
Financial Highlights for the six months ended June 30, 2018:
- Revenues were $20.8 million, a 103.5% increase, as compared to $10.2 million for the same period the prior year.
- Gross profit was $1.3 million, a 55% increase, as compared to $843 thousand for the same period the prior year.
Grigorios Siokas, Chief Executive Officer commented, “I am pleased to announce the first half of this year was filled with
opportunities for us due to the aggressive sales and marketing efforts we implemented in 2017. We continued to introduce our
product lines to our target markets and through these efforts we’ve been focusing on numerous applications to enhance our knowledge
of the challenges encountered in these markets that require innovative solutions where our pharmaceutical products are in
demand. We are excited about our growth prospects for the future.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to
improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK.
More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and
uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and
discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities
and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated
in these forward-looking statements, if new information becomes available in the future.
Investor Relations contact:
Andrew Barwicki
516-662-9461 / Andrew@barwicki.com
