Business
Dogness Reports First Half Fiscal Year 2021 Financial Results
Revenue Increases 6.7% YoY to $12.2 Million 60.3% YoY Increase in Sales of Intelligent Pet Products U.S. Sales Increase 41.7% YoY China Sales Increase 4.8%
About this update from Dogness (international) Corporation
[{"type":"text","content":"Revenue Increases 6.7% YoY to $12.2 Million 60.3% YoY Increase in Sales of Intelligent Pet Products U.S. Sales Increase 41.7% YoY China Sales Increase 4.8% YoY Gross Margin Improves to 39.1% Comprehensive Income Increases to $5.0 million from a Loss of $1.2 million a Year Ago EPS Grows to $0.03 per Basic and Diluted Share from a Loss of $0.01 per Basic and Diluted Share a Year Ago PLANO, Texas, June 4, 2021 /PRNewswire/ -- Dogness (International) Corporation (\"Dogness\" or the \"Company\") (NASDAQ: DOGZ), a developer and manufacturer of a comprehensive line of Dogness-branded, OEM and private label pet products, today announced its unaudited financial results for the six months ended December 31, 2020. \n\n \n \n \n \n \n \n\n \nSilong Chen, Chairman and Chief Executive Officer of Dogness, commented, \"We made excellent progress as we continue to drive our growth strategy and help customers adjust to COVID-19's challenges. Our supply chain initiatives gave us a competitive advantage as we were able to get the products customers needed to their favorite retailers to buy, while other suppliers were stuck on ships or in overseas ports. This is a testament to our operations team, which quickly adjusted to the changing supply chain conditions and logistics hurdles. During this period, we maintained extra close engagements with our customers, as we worked to understand their multi-quarter demand forecasts in order to have adequate inventory on hand of the right products.\"\nMr. Chen continued, \"We continue to do a great job expanding our distribution footprint in all key markets and all channels. For example, we recently announced agreements with Petco, Costco and Chewy, to name a few. In December, we also announced an OEM order for harnesses, leashes and other pet products, expected to be valued at $4 million. Our business is building momentum, which we expect will continue as we move through 2021. Over the coming quarters, we expect to further diversify our product offerings and increase our use of online shopping platforms to gain even broader access to potential customers, especially customers interested in our fast-growing smart pet products. We believe that through continuous product innovation, further sales success and a shift to our higher margin smart tech products, we will achieve expanded profitability and an even greate...