Business
The Alkaline Water Company Reports First Quarter 2016 Financial Results
The Alkaline Water Company Reports First Quarter 2016 Financial Results.
About this update from Alkaline Water Company Inc. (the)
[{"type":"text","content":"\n \n \n The Alkaline Water Company Reports First Quarter 2016 Financial Results\n \n \nThe Alkaline Water Company Reports First Quarter 2016 Financial Results\n\nRecord Sales for Q1 up 164% Over Prior Year; Company Reiterates Guidance for Fiscal 2016\n\n \n SCOTTSDALE, AZ--(Marketwired - Aug 19, 2015) - The Alkaline Water Company Inc. (OTCQB: WTER) (the \"Company\"), developers of an innovative state of the art and proprietary electrolysis beverage process that is packaged and sold in 500ml, 700ml, 1-liter, 3-liter and 1-gallon sizes under the trade name Alkaline88, has announced Q1 financial results for the three months ending June 30, 2015.\n First Quarter Financial Results and Highlights\n Revenue for the first fiscal quarter ended June 30, 2015 was $1,513,578, as compared to $572,049 for the same period ended June 30, 2014, an increase of 164%. The increase in revenue is due to increased product distribution to retailers and continued sell-through to consumers.\n The Company's gross profit as a percentage of revenue for the quarter was 36%, as compared to 29% for the same period in 2014, an increase of 24%. The increase in gross profit is a result of reduced raw material cost through greater volume purchases from our suppliers.\n During the quarter, our total operating expenses were $1,849,250, as compared to $2,382,067 for the same period in 2014, a decrease of 22%. For the quarter ended June 30, 2015, the total included $626,681 of sales and marketing expenses and $1,151,540 of general and administrative expenses, consisting primarily of 642,872 in stock compensation expense and $103,540 of professional fees.\n Our stock compensation expense was incurred as a part of our issuance of stock grants to 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 quarter ended June 30, 2015.\n For the quarter ended June 30, 2014, the total operating expenses included $226,780 of sales and marketing expenses and $2,138,753 of general and administrative expenses, consisting primarily of approximately $1,399,127 of stock option compensation expense, and $219,396 of professional fees.\n Net loss for the quarter ended June 30, 2015 was $(1,554,630), as compared to a loss of $(2,437,209) for the same period en...