Applewoods announces 132% increase in sales.WESTPORT, Conn.,--(BUSINESS WIRE)--May 8, 1997--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 third quarter ending March 31, 1997. Applewoods recorded total revenues for the three months ending March 31, 1997 of $1,494,523, a 132% increase compared to $643,918 during the same period last year. Total revenues for the nine month period ending March 31, 1997 were $4,487,535 compared to $3,011,710 for the corresponding period in the previous fiscal year, representing a 49% increase in revenues. 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, "We are very pleased by the growth in our revenues. This is in large part due to the opening of additional Applewoods retail stores worldwide. Despite recording a loss for this most recent quarter, we are approaching a critical mass which should reduce our fixed costs fixed costs,n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). as a percentage of sales. As a result, we anticipate increased sales and improving our bottom line performance during the next fiscal year." This release, other than historical financial information, may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward looking statements are set forth in the company's Quarterly Report on Form 10-QSB for the quarter ended March 31, 1997. Applewoods is a developer, manufacturer and marketer of all-natural soaps, lotions, 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 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion