Sugarmade Inc (OTCMKTS:SGMD) released its anticipations for the corporate performance for the fourth quarter completing June 30 and updated on preliminary financial report for the preceding quarter. Considering the existing revenue growth, the firm expects to post record revenue for the underway quarter completing June 2017.
The estimated surge in revenue is a result of the strong sales to Sugarmade legacy consumer base and new order, counting the storage and transport related offerings. For the quarter completed March 2017, Sugarmade anticipates to register revenues of about $900,000, which is a surge of about 9% versus the same quarter in 2016.
The CEO of Sugarmade, Jimmy Chan, mentioned that the team is extremely pleased with the growth recorded so far in this year. Their latest transport offerings are attaining strong interest, permitting them to upsurge their factory orders by gaining strength. They are looking to work on an official release update for Sriracha Stix. This is a unique product which is condensed with Huy Fong Sriracha Sauce and other flavors made in the stick form.
The firm anticipates to commence marketing of the its fresh offering soon. Sugarmade is predicting better revenues from the Sriracha Stix, in anticipation of phenomenal response from consumers. Also, it has marked a place in the special list of leading product and brand commercialization entities that looks to put money in offerings and brands registering disruptive prospects. It is a certified proprietor of Irwindale, Huy Fong Foods, Inc. In the list of other brands of Sugarmade comes Tree Free Paper, the FreeHand, ThumbTray and CarryOutSupplies.com.
More recently, the firm completed a distribution contract with Wagner Bartosch for ad reinforced displays for its products, counting desserts and frozen yogurt.
In the last trading session, the stock price of Sugarmade jumped 6% to close the day at $0.0689.