Business
Isodiol International Inc. Reports Fiscal Q3 2019 Financial Results with Revenue in Excess of $7.1 Million
Isodiol International Inc. Reports Fiscal Q3 2019 Financial Results with Revenue in Excess of $7.1 Million.
About this update from Isodiol International Inc
[{"type":"text","content":"\nVANCOUVER, British Columbia, March 04, 2019 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE: ISOL) (OTCQB: ISOLF) (FSE: LB6B.F) (the “Company” or “Isodiol”) announces its financial and operational results for the third quarter of fiscal year 2019, ended December 31, 2018.1 \n Isodiol is a global organization with its corporate offices in Canada, multiple operating facilities and retail stores throughout the United States, a pharmaceutical lab in the United Kingdom, pharmaceutical operations in Brazil, and over-the-counter (OTC) product development operations in Mexico.  With approximately 200 employees, consultants, and advisors worldwide for the reported period, consolidated operations generated more than $7.1 million in revenue with a gross profit exceeding $3.6 million. “The legalities of hemp-based CBD are becoming more favorable, and consumer awareness of CBD is rapidly rising,” said Kevin Swadish, Isodiol’s Chief Revenue Officer.  “As a result, we believe the greatest growth opportunities in the industry, and for Isodiol, lie in the consumer packaged goods marketplace.  Fortunately, we are poised to execute on these expanding opportunities in ways that the majority of our peers are not.” With the increasing commoditization of hemp and its extracts, management is continuing to shift its core focus to building a portfolio of consumer packaged goods (CPG) and enhancing its bulk offerings of CBD with value-added offerings to increase gross profit margins.  Isodiol plans to expand its retail footprint with new distribution contracts and mass retail accounts and will continue to expand its management team with top-tier employees with retail and CPG expertise.  “I am confident in the direction of expanding our CPG division and believe the appointment of Kevin Swadish as Chief Revenue Officer and his staff will enhance our market position,” said Isodiol’s CEO Marcos Agramont.  “One of the issues that comes with being the pioneer in an industry is determining where the best short- and long- term opportunities exist.  We cast a wide net exploring various opportunities and hedging against market forces through vertical integration that is no longer necessary as hemp and CBD continue to be commoditized and c...