Starco Brands, Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018
August 15, 2018 at 05:00 am EDT
Share
Starco Brands, Inc. reported un-audited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenues, net, related party of $39,716, loss from operations party of $101,710 compared to $102,689, loss before provision for income taxes of $106,624 compared to $363,362, net loss of $106,624 or $0.00 per basic and diluted share compared to $363,362 or $0.30 per basic and diluted share and adjusted LBITDA of $101,710 compared to $102,689 a year ago.
For the six months, the company reported revenues, net, related party of $40,479, loss from operations party of $344,787 compared to $227,735, loss before provision for income taxes of $354,652 compared to $489,272, net loss of $354,652 or $0.00 per basic and diluted share compared to $489,272 or $0.46 per basic and diluted share and adjusted LBITDA of $304,868 compared to $227,735 a year ago. Net cash used in operating activities was $234,723 compared to $112,412 a year ago.
The Company continues to expect revenues to grow significantly in 2018 and expects to continue to narrow its operating loss. This will be primarily driven by expanded distribution of its Breathe, Winona Pure, Kleen-Out line, Honu Sunscreen lines, as well as Parents Choice cobranded with Walmart.
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.
Starco Brands, Inc. Reports Un-Audited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Year 2018