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
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2020/26/c7240.html