Starco Brands, Inc. Announces Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018
May 18, 2018 at 06:00 am EDT
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Starco Brands, Inc. announced earnings results for the first quarter ended March 31, 2018. For the period, the company reported loss from operation of $243,077 as compared to $125,046 a year ago. Loss before provision for income taxes was $248,028 as compared to income of $125,910 a year ago. Net Loss was $248,028 or $0.00 as compared to profit of $125,910 or $0.14 a year ago. Adjusted EBITDA was $203,230 as compared to $125,046 for the same period last year. Net Cash Used in Operating Activities of $135,878 compared to $61,492 a year ago.
For the year 2018, company continues to expect revenues to grow significantly in 2018, driven by expanded distribution of Breathe products, new product and brand launches and the addition of product licenses to be acquired during the coming year.
Starco Brands, Inc. is a consumer goods company. The Company operates through three segments: Starco Brands, Skylar, and Soylent. The Starco Brands segment is engaged in the development and sales of consumer goods products. The Starco Brands segment includes STCB, AOS, Whipshots Holdings and Whipshots LLC. The Skylar segment is involved in the sale of fragrances. Soylent segment is engaged in the sale of nutritional products, mainly drinks. Its brands include Whipshots, the vodka-infused whipped cream; Art of Sport, the body care brand designed for athletes; Winona, the indulgent theater-popcorn spray powered by air; Skylar, the fragrance that is both hypoallergenic and safe for sensitive skin; Whipshots; and Soylent, a non-dairy nutrition brand. It commercializes consumer products manufactured by The Starco Group (TSG). TSG is a private label and branded aerosol and liquid fill manufacturer with manufacturing assets in verticals, including paints, coatings and adhesives, and others.