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Xylitol Canada Inc. Releases Financial Results for the Three and Six Months Ended June 30, 2017
August 29, 2017 4:45 PM EDT | Source: Sweet Natural Trading Co. Limited
Toronto, Ontario--(Newsfile Corp. - August 29, 2017) - Xylitol Canada Inc. (TSXV: XYL) ("Xylitol") announces today that it has released its financial and operating results for the three and six months ended June 30, 2017.
Highlights of the results include:
| Three months ended June 30, | Six months ended June 30, | |||
| 2017 | 2016 | 2017 | 2016 | |
| Revenue | $ 1,652,101 | $ 1,963,462 | $ 3,259,335 | $ 3,826,092 |
| Gross Profit | $ 341,132 | $ 359,976 | $ 750,130 | $ 643,934 |
| Net Loss | $ (929,268) | $ (1,294,821) | $ (1,697,507) | $ (2,114,108) |
| EBITDA | $ (671,545) | $ (1,075,512) | $ (1,241,710) | $ (1,700,365) |
| Adjusted EBITDA* | $ (594,705) | $ (997,217) | $ (870,522) | $ (1,598,731) |
| Loss per share | $ (0.02) | $ (0.07) | $ (0.05) | $ (0.11) |
| * EBITA adjusted for acquisition costs, share based payments, research and development costs. | ||||
The overall decrease in loss was achieved mostly from increasing gross margins, a reduction of corporate and general costs, and a reduction of selling costs.
"During this period of transition, we continue to generate consistent revenue while lowering costs and increasing gross margins. Our focus now is on sales, marketing and branding to engage the customer and build valued, long-term, profitable relationships. To this effect, we recently engaged several national sales brokerages during the quarter which will effectively align their collective sales representatives to execute cross-selling in our approximate 7,000 retail store base as well as add new retail regional, national sales opportunities. This focus, together with our experienced board, management and investor based, will help drive us to our goal of building a leading, global natural sweetener company," noted Steven Haasz, President and Chief Executive Officer.
The full text of the Company's interim consolidated financial statements and related management's discussion and analysis ("MD&A") can be found at: www.sedar.com.
About Xylitol Canada Inc.
Xylitol Canada is a consumer packaged goods business focused on an assortment of natural sweetener based products including xylitol, coconut palm sugar and honey. The Corporation operates a 30,000-square foot facility in Colorado where it produces and packages a full catalog of natural sweetener products, most notably its natural sweetener alternatives. Xylitol Canada services major retail customers such as Loblaws, Walmart, Whole Foods, Costco, Trader Joe's, Sprouts and distributors including UNFI and KeHE.
For more information about Xylitol please contact:
Steven Haasz
CEO and a director of Xylitol Canada Inc.
416.804.8231
shaasz@xylitolcanada.com
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.