Bemax Inc. Reports Second Quarter 2016 Results DA
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Posted On: 02/04/2017 7:45:47 AM
Bemax Inc. Reports Second Quarter 2016 Results
DALLAS, GA -- (Marketwired) -- 01/13/17 -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of Disposable Baby Diapers, today reported its financial results for the three months ended November 30, 2016.
Revenue for the six months ended November 30, 2016 totaled $115,153 compared to $65,219 for same period ended November 30, 2015.
"We delivered another quarter of revenue with distribution network showing sequential growth in line with expectations," stated Taiwo Aimasiko, President and Chief Executive Officer. She added, "We expect to see continued growth in sales as we start to benefit from new sales channels, as well as new distribution arrangements with strong distribution network."
Business Outlook - Third Quarter and Full Year 2016
For full year 2016, Bemax Inc. is increasing its outlook for revenue to a range of $3.5 million to $4.5 million, up from a range of $2.73 million to $3.3 million.
(The fiscal year of 2016 for BMXC ends 6/31/2017)
The following statements are based on Bemax's current expectations for the fiscal year 2016. These statements are forward-looking and actual results may differ materially.
Extend sales and distribution channel to the U.S. market through Amazon.
Increase volume of purchase orders by $3.4 million
Negotiate new competitive pricing with existing Bemax private label distributors to increase sales.
Launching on Amazon is part of the first phase for Bemax disposable diapers to penetrate the U.S. market. In further phases in 2017 the company plans to launch its private label brands to traditional U.S. retail outlets.
https://www.otcmarkets.com/stock/BMXC/news
DALLAS, GA -- (Marketwired) -- 01/13/17 -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of Disposable Baby Diapers, today reported its financial results for the three months ended November 30, 2016.
Revenue for the six months ended November 30, 2016 totaled $115,153 compared to $65,219 for same period ended November 30, 2015.
"We delivered another quarter of revenue with distribution network showing sequential growth in line with expectations," stated Taiwo Aimasiko, President and Chief Executive Officer. She added, "We expect to see continued growth in sales as we start to benefit from new sales channels, as well as new distribution arrangements with strong distribution network."
Business Outlook - Third Quarter and Full Year 2016
For full year 2016, Bemax Inc. is increasing its outlook for revenue to a range of $3.5 million to $4.5 million, up from a range of $2.73 million to $3.3 million.
(The fiscal year of 2016 for BMXC ends 6/31/2017)
The following statements are based on Bemax's current expectations for the fiscal year 2016. These statements are forward-looking and actual results may differ materially.
Extend sales and distribution channel to the U.S. market through Amazon.
Increase volume of purchase orders by $3.4 million
Negotiate new competitive pricing with existing Bemax private label distributors to increase sales.
Launching on Amazon is part of the first phase for Bemax disposable diapers to penetrate the U.S. market. In further phases in 2017 the company plans to launch its private label brands to traditional U.S. retail outlets.
https://www.otcmarkets.com/stock/BMXC/news
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