Business
Alkaline Water Co. Reports Record Financial Results
Alkaline Water Co. Reports Record Financial Results.
About this update from Alkaline Water Company Inc. (the)
[{"type":"text","content":"\n \n \n Alkaline Water Co. Reports Record Financial Results\n \n \nAlkaline Water Co. Reports Record Financial Results\n\nFiscal 2016 Sales Top $7,000,000, up More Than 90% Over Last Year With Record Fiscal 2017 Q1 Projected to Exceed $3,000,000, up 200%, With Company Projecting $18,000,000 Sales for Fiscal 2017\n\n \n SCOTTSDALE, AZ--(Marketwired - Jul 20, 2016) - The Alkaline Water Company Inc. (OTCQB: WTER) (the \"Company\"), developers of an innovative state of the art proprietary electrolysis beverage process packaged and sold in 500ml, 700ml, 1-liter, 3-liter and 1-gallon sizes under the trade name Alkaline88, have announced record financial results for the twelve months ended March 31, 2016.\n Full-Fiscal Year 2016 Financial Results and Highlights\n Revenue for the year ended March 31, 2016 was $7,088,806, as compared to $3,700,476 for the same period ended March 31, 2015, an increase of 91.5%. The increase in revenue is due to the expanded distribution of the Company's products to additional retailers throughout the country.\n The Company's gross profit as a percentage of revenue for the year ended March 31, 2016 was 37.5%, as compared to 31.6% for the same period in 2015, an increase of 18.7%. The increase in gross profit is a result of reduced raw material cost through greater volume purchases from our suppliers.\n During the year ended March 31, 2016, total operating expenses were $10,133,485, as compared to $8,082,158 for the year ended March 31, 2015. For the year ended March 31, 2016, the total included $2,931,870 of sales and marketing expenses and $6,883,287 of general and administrative expenses, consisting primarily of $2,241,200 of stock option compensation expense, $2,310,761 in stock compensation expense and $550,291 of professional fees.\n Our stock and stock option compensation expense was incurred as a part of our issuance of certain stock options and stock grants to employees and key consultants to develop our business. Although a non-cash expense, the value of such issuances had a material impact on our general and administrative expenses for the year ended March 31, 2016.\n For the year ended March 31, 2015, total operating expenses included $1,386,671 of sales and marketing expenses and $6,520,451 of general and administrative expenses, consisting primarily of $2,428,782 of stock option compensation ...