Brief: Sunniva Announces Preliminary Q1 2019 Revenue Of CAD $14.0 Mln, Representing Growth Of 169 Pct Over Q1 2018

Sunniva

05/04/2019 12:03

April 5 (Reuters) - Sunniva Inc  SNN.CD :
    * SUNNIVA ANNOUNCES RECORD PRELIMINARY Q1 2019 REVENUE OF
CAD
$14.0 MILLION (USD $10.5 MILLION), REPRESENTING GROWTH OF 169%
OVER Q1 2018
    * Q1 REVENUE ROSE 169 PERCENT TO C$14 MILLION
    * 2019 REVENUE ESTIMATE OF CAD $72-$78 MILLION (USD $55-$60
MILLION) FROM SUNNIVA BRANDED SALES IN CALIFORNIA
    * GROSS PROFIT MARGIN FOR Q1 IS EXPECTED TO BE BETWEEN
30-35% DUE
TO OPERATIONAL RAMP UP COSTS IN CALIFORNIA
    * REITERATES ITS 2019 REVENUE ESTIMATE IN CALIFORNIA THROUGH
CPL
OF $72-$78 MILLION (USD $55-$60 MILLION)

Source text for Eikon:  ID:nCNWKCkc7a 
Further company coverage:  SNN.CD 

 ((Reuters.Briefs@thomsonreuters.com;))