Sugarmade Inc (OTCMKTS:SGMD) Posts Preliminary Revenue Report


Sugarmade Inc (OTCMKTS:SGMD) released with an outlook for the ongoing fourth quarter closing June 30 and provided comments on preliminary financial report for the March Quarter. Depending on prevailing revenue growth rates, the firm is predicting to post record revenue for the current quarter closing June 2017.

The projected surge in revenue is an outcome of the continued strong sales to the firm’s legacy client base and new order, including the firm’s storage and transport offerings. For the quarter closed March 2017, Sugarmade anticipates to report revenues of about $900,000, which is a jump of about 9% as compared to the same quarter, a year ago.

The buzz

Jimmy Chan, who is the CEO of Sugarmade, mentioned that they are extremely pleased with revenue growth so far in this year. The latest transport offerings are receiving strong interest, permitting them to grow their factory orders with sell by gaining strength. Sugarmade wants to make an official product release update for Sriracha Stix, which is condensed Huy Fong Sriracha Sauce along with other flavors formulated in the form of a stick.

The company anticipates to commence marketing of the latest offering soon. Sugarmade is predicting robust revenues from the Sriracha Stix, as response from customers has been phenomenal. Also, the company has marked a place in the list of leading product and brand marketing entities that looks to invest in offerings and brands having disruptive prospects. It is an official licensee of Irwindale, Huy Fong Foods, Inc. The firm’s other brands constitute Sugarmade Tree Free Paper, and the FreeHand™ ThumbTray™.

More recently, the company closed a long-term distribution contract with Wagner Bartosch for its ad reinforced displays for desserts and frozen yogurt. Following the contract terms, the firm will take commercialization, manufacturing and supply rights for its items along with revenue period.

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