Kush Bottles Reports Q2 Financial Results: Revenues More than Double, Profits Continue to Grow
Leading packaging and accessories provider to the cannabis industry focuses on business fundamentals to build long-term, sustainable growth
LOS ANGELES, April 12, 2016 /PRNewswire/ -- Kush Bottles, Inc. (OTCQB: KSHB), a premier supplier of packaging solutions and accessories for the legal cannabis industry, reported its financial results for second quarter, fiscal year 2016.
Q2 FY16 revenues increased 173% over Q2 FY15. Revenues for 6-months ending Feb 29, 2016 grew 175% over same period prior year.
Kush Bottles also reported an increase in net profits over the previous quarter.
"We're thrilled to have ended the first half of our fiscal year with 175% year over year growth," said Nicholas Kovacevich, Co-Founder and CEO of Kush Bottles, Inc. "Our success can be largely attributed to our aggressive sales efforts in both current and new markets, as well as expansion into new product lines."
"We turned a corner in Q1 when we first became profitable, and we've shown through our Q2 results that we can sustain that momentum," said Chris Martin, CFO of Kush Bottles. "We are pleased with our performance and look forward to attacking new opportunities to increase company growth and shareholder value in the second half of the year."
Kovacevich said that the success of Kush Bottles is the result of planning, persistence, and passion. "We've built an incredible team here at Kush Bottles, and we ready to capitalize upon the significant growth prospects ahead."
About Kush Bottles:
Kush Bottles is a leading packaging provider, offering certified child-resistant and custom-branded solutions in all states that permit cannabis use, and in Canada.
Kush Bottles is a publicly traded company, and one of a few cannabis-based businesses with demonstrated revenue growth and profitability, without direct involvement with cannabis plants or extract.
With over 100 million bottles sold, the company is respected for its premium quality products, exceptional customer service, fast deliveries, and innovative custom solutions.
For more information, visit: www.kushbottles.com or call: (888)-920-5874.
Forward Looking Statements:
This press release includes statements considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent our current judgments, they are subject to risks and uncertainties that could cause actual results to differ. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent with operations of a company. Reader is cautioned not to place undue reliance on forward-looking statements, which reflect opinions only as of the date of this release. We are not obligated to revise any forward-looking statements in light of new information.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/kush-bottles-reports-q2-financial-results-revenues-more-than-double-profits-continue-to-grow-300249837.html
SOURCE Kush Bottles, Inc.
Released April 12, 2016