Applewoods Inc. announces revenue increase.WESTPORT, Conn.--(BUSINESS WIRE)--Oct. 25, 1996--Applewoods Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APWD APWD Annular Pressure While Drilling (oil and gas industry) ) announced today results for the company's fiscal year ending June 30, 1996. Applewoods recorded a net loss of $2,315,074 or $.39 per share on 5,927,342 weighted average common shares outstanding, on total revenues of $3,807,796. These results compare to a net loss of $288,518, or $.06 per share on 5,136,000 weighted average common shares outstanding for the fiscal year ending June 30, 1995. Roger M. Buoy buoy (boi, b  `ē), float anchored in navigable waters to mark channels and indicate dangers to navigation (isolated rocks, mine fields, cables, and the like). , the Chairman and Chief Executive Officer of Applewoods stated, "Despite an increase in total sales of approximately 11% over the previous year, our growth last year was severely constrained by limited available capital and the devotion of time by senior management towards the successful completion of the company's initial public offering. "Having raised over $8.5 million in connection with our IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in April, we now have sufficient capital to expand our business considerably. Over the next year, we anticipate hiring additional personnel, expanding our product line and increasing the number of Applewoods stores in response to the significant worldwide demand for Applewoods' products. It can be expected that these benefits will begin to show in calendar year 1997." Applewoods is a developer, manufacturer and marketer of all natural soaps, lotions lotions, n.pl nonoily treatments intended to be applied to the skin for a variety of cosmetic or medicinal purposes. , oils, other toiletries toi·let·ry n. pl. toi·let·ries An article, such as toothpaste or a hairbrush, used in personal grooming or dressing. toiletries npl → artículos mpl de aseo (= and related gift items for men and women. Applewoods is traded on the Nasdaq SmallCap Market. CONTACT: Applewoods Inc. Roger Buoy, 203/227-4912 |
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