Kush Bottles Inc (OTCMKTS:KSHB) FY2017 Revenue Surges 129% YoY – MMJ Reporter

Kush Bottles Inc (OTCMKTS:KSHB) issued financial report for its fiscal year closed August 31, 2017. Revenue surged 129% YoY to $18.8 million; revenues comprised four months of revenue from CMP Wellness which was bought in May. Gross margins kept steady at 33%, at par with the previous year period.

The details

Net income, counting $301,000 in amortization expense and depreciation, $4.6 million in SG&A and $943,000 in non-cash stock compensation, came at $69,000 while it was $72,000 in FY2016; the jump in operating expenses can be attributed to costs related with CMP Wellness acquisition, and higher SG&A costs to expand an outside sales program. Kush Bottles reported that working capital stood at $3.45 million as against $2.03 million as of the close of August 31, 2016.

Kush Bottles CEO Nick Kovacevich expressed that FY2017 marks as a pivotal year for the firm as they commenced a new and thrilling chapter. They implemented a series of development measures planned to strengthen supply chain, expand their product portfolio, grow their sales force and position company as the key provider of ancillary solutions

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