Kush Bottles Reports Record Results for Fiscal Year 2015
SANTA ANA, Calif., Dec. 1, 2015 /Weed Wire/ — Kush Bottles (OTCPK:KSHB), North America’s premier supplier of customizable child-resistant packaging solutions and accessories for the legal cannabis industry, reported financial results for its fiscal year ended August 31, 2015.
Fiscal Year 2015 Highlights
- Revenues up 135% over FY14, to a record $4.014 million
- Gross profits up 97% over FY14, to a record $1.428 million
- Consolidated net loss down 14% over FY14, to $339,303
The driving factors behind the increase in revenues, improvement in gross profits, and reduction in net loss in fiscal 2015 is due in part to the acquisition of Dank Bottles, LLC on April 10, 2015, which increased the Company’s market share in the state of Colorado. In addition, the Company experienced increased sales activity in California, Washington, and Oregon.
“We are pleased with our financial performance in fiscal 2015, but we remain dedicated to continuing to grow our markets and market share, while providing a portfolio of high quality products along with exemplary customer service that have become the standard by which all other companies are judged,” said Nicholas Kovacevich, Co-Founder and CEO of Kush Bottles, Inc. “We believe that there are tremendous opportunities for further growth ahead, and our team is focused on building upon the success we have already achieved.”
Further information about the company and its fiscal year 2015 results can be found on the Kush Bottles Investor Relations website, at: www.kushbottles.com/ir.
The post Kush Bottles Reports Record Results for Fiscal Year 2015 appeared first on MJI News.