IFBC's 2016 First Quarter Results Overview
Thu May 26, 2016 7:00 AM|Marketwire
PLAINVIEW NY -- (Marketwired) -- 05/26/16 -- Italian Food & Beverage Corp. (OTC PINK: IFBC) continues to position itself as a "commercial ambassador" of the Italian food and wine culture. As an importer, exporter, merchant, distributor and dealer of fine wine and food products, IFBC and its subsidiaries have established wholesale distribution headquarters, offices and warehouses in several countries including Italy, Singapore, Austria, Hungary and the UK.
IFBC's revenues for the Three Months Ended, March 31, 2016, amounted to $336,121, which represents almost 40% of the $864,616 of revenues amassed during the entire year of 2015. The Gross Income for the Three Months Ended, March 31, 2016, totaled $249,786, for a Percentage Gross Profit of 74.3%. This is in comparison to $563,937 of Gross Income for the entire year of 2015, for which the Percentage Gross Profit amounted to 65.1%. The 1st Quarter of 2016 showed a Net Income of $22,790 compared to a ($455,165) Net Loss for the entire year of 2015. IFBC is improving both its profitability and its percentage gross profits via an emphasis on higher margin food products, the sales of which are eclipsing those of the wine segment of the business.
As for the near future, IFBC is seeking to expand its street food stands, which are already in place, with www.brandout.it, and with two new companies www.freetto.it and www.biolee.it. Through Campagna Amica, the company is currently engaged in negotiations with The Italian Farmers Group in London. This opportunity will allow IFBC the ability to introduce, into a 30-seat space, named Bottega Italiana, the new offerings of "Freetto," lightly fried, high-quality Italian fare, and "Biolee," the genuine article of rich, Italian ice cream in The United Kingdom, as well as in new food stands throughout Europe.
"Over the past 18 months, operations have been streamlined and improved, new strategies calling for the emphasis on the sale of street food have been implemented, and specific financial goals and objectives have been firmly established," stated Andrea Di Gregorio, Vice President.
About Italian Food & Beverage Corp (IFBC) . Italian Food & Beverage Corp. establishes and develops brands committed to fulfill customer needs throughout the world while providing the finest experiences based on the Italian wine and food culture. IFBC operates as an importer, exporter, merchant, distributor and dealer of fine wine and food products. The Company and its subsidiaries have established wholesale distribution headquarters, offices and warehouses in several countries including Italy, Singapore, Austria, Hungary and the UK. http://ifbcorp.com/
Forward Looking Statements This release contains "forward-looking statements" and information provided by Italian Food & Beverage Corp. such as online, printed documents, publications or information available via its website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause the Company's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.
Embedded Video Available: https://www.youtube.com/watch?v=tFVWFEdlQAI&a...e=youtu.be
Contact info: Italian Food & Beverage Corp.Info@ifbcorp.comMessage board http://bit.ly/1PdO88m
http://at.marketwire.com/accesstracking/Acces...urceType=1
Source: Italian Food & Beverage Corp
Thu May 26, 2016 7:00 AM|Marketwire
PLAINVIEW NY -- (Marketwired) -- 05/26/16 -- Italian Food & Beverage Corp. (OTC PINK: IFBC) continues to position itself as a "commercial ambassador" of the Italian food and wine culture. As an importer, exporter, merchant, distributor and dealer of fine wine and food products, IFBC and its subsidiaries have established wholesale distribution headquarters, offices and warehouses in several countries including Italy, Singapore, Austria, Hungary and the UK.
IFBC's revenues for the Three Months Ended, March 31, 2016, amounted to $336,121, which represents almost 40% of the $864,616 of revenues amassed during the entire year of 2015. The Gross Income for the Three Months Ended, March 31, 2016, totaled $249,786, for a Percentage Gross Profit of 74.3%. This is in comparison to $563,937 of Gross Income for the entire year of 2015, for which the Percentage Gross Profit amounted to 65.1%. The 1st Quarter of 2016 showed a Net Income of $22,790 compared to a ($455,165) Net Loss for the entire year of 2015. IFBC is improving both its profitability and its percentage gross profits via an emphasis on higher margin food products, the sales of which are eclipsing those of the wine segment of the business.
As for the near future, IFBC is seeking to expand its street food stands, which are already in place, with www.brandout.it, and with two new companies www.freetto.it and www.biolee.it. Through Campagna Amica, the company is currently engaged in negotiations with The Italian Farmers Group in London. This opportunity will allow IFBC the ability to introduce, into a 30-seat space, named Bottega Italiana, the new offerings of "Freetto," lightly fried, high-quality Italian fare, and "Biolee," the genuine article of rich, Italian ice cream in The United Kingdom, as well as in new food stands throughout Europe.
"Over the past 18 months, operations have been streamlined and improved, new strategies calling for the emphasis on the sale of street food have been implemented, and specific financial goals and objectives have been firmly established," stated Andrea Di Gregorio, Vice President.
About Italian Food & Beverage Corp (IFBC) . Italian Food & Beverage Corp. establishes and develops brands committed to fulfill customer needs throughout the world while providing the finest experiences based on the Italian wine and food culture. IFBC operates as an importer, exporter, merchant, distributor and dealer of fine wine and food products. The Company and its subsidiaries have established wholesale distribution headquarters, offices and warehouses in several countries including Italy, Singapore, Austria, Hungary and the UK. http://ifbcorp.com/
Forward Looking Statements This release contains "forward-looking statements" and information provided by Italian Food & Beverage Corp. such as online, printed documents, publications or information available via its website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause the Company's results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.
Embedded Video Available: https://www.youtube.com/watch?v=tFVWFEdlQAI&a...e=youtu.be
Contact info: Italian Food & Beverage Corp.Info@ifbcorp.comMessage board http://bit.ly/1PdO88m
http://at.marketwire.com/accesstracking/Acces...urceType=1
Source: Italian Food & Beverage Corp
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