$ISWH LAS VEGAS, Oct. 10, 2019 (GLOBE NEWSWIRE) --
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Posted On: 10/10/2019 8:16:55 AM
$ISWH LAS VEGAS, Oct. 10, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISWH) (“ISWH” or the “Company”), a top-tier brand incubator in the Spirits, CBD-Infused Products, and Home Healthcare markets, is excited to report that the Company was able to record its first ever quarter of profitability before accounting for interest, taxes, depreciation, and amortization in Q3 2019, and now projects that revenues for the quarter will come in 79% above Q2’s breakout top-line data. The Company is also firmly anticipating accelerating growth across all segments in Q4 2019.
“Now that Q3 is in the books, we wanted to update shareholders and inform the world that we did achieve our expectations for Q3 performance as stated in our mid-quarter update: we will be reporting our first ever quarter of profitability on an EBITDA basis, and growth in revenues continues to accelerate,” commented Terry Williams, ISWH CEO. “We anticipate that Q4 will be our second quarter in a row to show profits as well, and we should also post accelerating growth in both major segments, Spirits and Health & Wellness, into year-end.”
Management notes that the remainder of the 2019 fiscal year should be marked by accelerating growth in spirits sales, sales of the Company’s P19 CBD products, and client and sales growth for the Company’s Home Healthcare business. The Company also anticipates the start of P19 CBD product sales in physical stores during this quarter, with details on a new strategic partnership set to be announced over the near-term.
Recent research from several firms, including Brightfield Group, has highlighted the importance of the shift from ecommerce to physical store sales for CBD products, which has been cited as a driving force in fostering dramatically accelerating growth in the overall sales of CBD-based products so far in 2019, including a 900% year-over-year growth in total sales this year. In line with this, the Company has been in negotiations with several potential physical retail store partners, and should be announcing an important next step very soon.
Mr. Williams continued, “We will be making several significant announcements over coming weeks that should clarify why we are so confident of a very successful stretch to close out 2019. We did not turn profitable by scaling back on our push for new growth. Quite the opposite – a fact that should be very clear in our coming announcements.”
“Now that Q3 is in the books, we wanted to update shareholders and inform the world that we did achieve our expectations for Q3 performance as stated in our mid-quarter update: we will be reporting our first ever quarter of profitability on an EBITDA basis, and growth in revenues continues to accelerate,” commented Terry Williams, ISWH CEO. “We anticipate that Q4 will be our second quarter in a row to show profits as well, and we should also post accelerating growth in both major segments, Spirits and Health & Wellness, into year-end.”
Management notes that the remainder of the 2019 fiscal year should be marked by accelerating growth in spirits sales, sales of the Company’s P19 CBD products, and client and sales growth for the Company’s Home Healthcare business. The Company also anticipates the start of P19 CBD product sales in physical stores during this quarter, with details on a new strategic partnership set to be announced over the near-term.
Recent research from several firms, including Brightfield Group, has highlighted the importance of the shift from ecommerce to physical store sales for CBD products, which has been cited as a driving force in fostering dramatically accelerating growth in the overall sales of CBD-based products so far in 2019, including a 900% year-over-year growth in total sales this year. In line with this, the Company has been in negotiations with several potential physical retail store partners, and should be announcing an important next step very soon.
Mr. Williams continued, “We will be making several significant announcements over coming weeks that should clarify why we are so confident of a very successful stretch to close out 2019. We did not turn profitable by scaling back on our push for new growth. Quite the opposite – a fact that should be very clear in our coming announcements.”
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