NetworkNewsBreaks – VIVO Cannabis Inc. (TSX: VIV
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Posted On: 03/31/2020 5:15:46 PM
NetworkNewsBreaks – VIVO Cannabis Inc. (TSX: VIVO) (OTCQX: VVCIF) Announces Q4 and Full Year 2019 Results
VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Monday released its year end and fourth quarter 2019 financial and operating results. Among the highlights, the Company reported a 139% year-over-year increase in revenue, with 7% increase in SG&A expenses, successful launch of initial Cannabis 2.0 products, as well as accelerated growth into Q1 2020. “During the fourth quarter of 2019, VIVO continued to execute on our strategy, recording revenue growth, sustaining top-tier prices for our premium products, and executing a successful launch of Cannabis 2.0 products,” VIVO CEO Barry Fishman stated in the news release. “We have maintained a disciplined and fiscally prudent approach, including taking key actions to navigate through the current COVID-19 pandemic. Going forward, we see several positive catalysts which are expected to deliver profitable growth, including production expansion, distribution channel development, entry into high-growth international markets, and the development and launch of innovative products and services. We are also pleased to be experiencing increased sales in Q1 2020, supported by our medical and Cannabis 2.0 products.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
VIVO Cannabis (TSX: VIVO) (OTCQX: VVCIF) on Monday released its year end and fourth quarter 2019 financial and operating results. Among the highlights, the Company reported a 139% year-over-year increase in revenue, with 7% increase in SG&A expenses, successful launch of initial Cannabis 2.0 products, as well as accelerated growth into Q1 2020. “During the fourth quarter of 2019, VIVO continued to execute on our strategy, recording revenue growth, sustaining top-tier prices for our premium products, and executing a successful launch of Cannabis 2.0 products,” VIVO CEO Barry Fishman stated in the news release. “We have maintained a disciplined and fiscally prudent approach, including taking key actions to navigate through the current COVID-19 pandemic. Going forward, we see several positive catalysts which are expected to deliver profitable growth, including production expansion, distribution channel development, entry into high-growth international markets, and the development and launch of innovative products and services. We are also pleased to be experiencing increased sales in Q1 2020, supported by our medical and Cannabis 2.0 products.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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