Business
Vitality Reports Third Quarter Results
Vitality Reports Third Quarter Results Canada NewsWire VANCOUVER, Dec. 30, 2019 ...
About this update from Vitality Products Inc.
[{"type":"text","content":"\n\n\n\nVitality Reports Third Quarter Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 30, 2019\n\n\n\nTrading Symbol:  VPI\n VANCOUVER, Dec. 30, 2019 /CNW/ - Vitality Products Inc. (the \"Company\" or \"Vitality\") is pleased to announce it has achieved its highest sales quarter since the revitalization and launch of Vitality products in fiscal 2014.  Sales for the three months ended October 31, 2019 of the Company's premium natural health products increased 13% to $162,809 (2018 - $143,970) as the Company achieved profitability during the third quarter.\n\n \n \n\n \nThe financial results of the Company for the three months ended October 31, 2019 show a net income of $1,223 or $0.00 per share compared to a net loss of $8,688 or $0.00 per share for the same period last year.\nIn October, the Company increased the sales and marketing team for the fourth quarter and fiscal 2021.  The Company hired three new sales personnel including a Regional Account Manager and Account Executive in Ontario, and a Regional Account Manager, based in Calgary, for sales in Alberta, Saskatchewan and Manitoba.  The Company also prepared for the product launch in the United States, increasing trademark registration, new labels and market specific inventory. \nVitality won its first alive Award from Canadian Retailers in recognition of Power Iron + Organic Spirulina. Vitality received a Bronze for Retailer Choice – Women's Products (www.alive.com/awards/2019/retailer-choice-womens-products).  Previously, Vitality received two Consumer Choice alive Awards. The annual alive Awards recognize outstanding product innovation and are presented to manufacturers of the best products in a variety of health categories. Vitality Power Iron + Organic Spirulina represents 63% of the Company's revenue.\nThe Company's general and administrative expenses for the three months ended October 31, 2019 increased to $114,672 (2018 - $110,610). The cost of sales increased to $42,616 (2019 Q3 - $38,726) and wages and salary increased to $56...