Kush Bottles Reports Fiscal Year End 2017 Results – Markets Insider

SANTA ANA, Calif., Nov. 28, 2017 /PRNewswire/ — Kush Bottles, Inc. (OTCQB: KSHB), a leading provider of packaging, suppliesvaporizersaccessories and branding solutions for the regulated cannabis industry, today reported financial results for its fiscal year ended August 31, 2017.

Fiscal Year End 2017 Financial Summary

Revenue was up 129% Year-over-Year to $18.8 million; revenues included four months of sales from CMP Wellness which was acquired on May 1, 2017. Gross margins held steady at 33%, in line with the prior year period. Net income, including $943,000 in non-cash stock compensation, $301,000 in depreciation and amortization expense and $4.6 million in SG&A, was $69,000 compared to net income of $72,000 in fiscal year 2016; the increase in operating expenses stems from costs associated with the acquisition of CMP Wellness, as well as higher SG&A costs to support an expanded outside sales program. Working capital was $3.45 million compared to $2.03 million at August 31, 2016.

“Fiscal year 2017 was a pivotal year for the Company as we began a new and exciting chapter,” commented Nick Kovacevich, Chairman and Chief Executive Officer of Kush Bottles. “We implemented

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