Verus International, Inc. Reports Earnings Results for the Third Quarter Ended July 31, 2020
September 21, 2020 at 05:02 pm EDT
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Verus International, Inc. announced earnings results for the third quarter ended July 31, 2020. For the third quarter, the company announced sales was USD 6.173 million compared to USD 3.477 million a year ago. Operating loss was USD 269,973 compared to USD 1.268 million a year ago. Net loss was USD 1.329 million compared to USD 1.357 million a year ago. For the nine months, sales was USD 16.994 million compared to USD 8.863 million a year ago. Operating loss was USD 8.850 million compared to USD 1.549 million a year ago. Net loss was USD 11.146 million compared to net income of USD 468,932 a year ago.
Verus International, Inc. is a multi-line consumer packaged goods (CPG) company developing branded product lines in the United States and on a global basis. The Company is focused on international consumer packaged goods, foodstuff distribution and wholesale trade. The Company markets its consumer food products under its own brand primarily to supermarkets, hotels, and other members of the wholesale trade. The Company provides frozen foods, particularly meat, poultry, seafood, vegetables, and French fries with beverages. It also provides cold-storage facilities and is seeking sources for fresh fruit, produce and similar perishables, as well as other consumer packaged foodstuffs. The Company has its regional presence in the Middle East and North Africa (MENA) and sub-Saharan Africa, with deep roots in the Gulf Cooperation Council (GCC) countries, which includes the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait.
VERUS INTERNATIONAL, INC. 
