LAS VEGAS, Nov. 06, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- International Spirits & Wellness Holdings, Inc. (OTCMKTS: ISWH) (“ISWH” or the “Company”), a top-tier brand incubator in the Spirits, CBD-Infused Products, and Home Healthcare markets, is excited to announce financial results for the quarter-ended September 30, 2019.
“We continue to ride a wave of growth in 2019, with ramping sales, big strategic achievements, and what will clearly go down as our best year on record, with the bulk of the action still in front of us during the final seven weeks of the year,” commented Terry Williams, CEO of ISWH. “Based on our visibility right now into current quarter operations, Q3 – strong as it was – is going to pale in comparison to Q4 because most of our topline growth in CBD and Spirits is going to be reflected in the current quarter. That said, Q3 represents another signpost in the course of the Company’s continuing resurgence, particularly for our Home Healthcare segment, and it’s another strong report card showing gross profitability and a big jump in overall sales.”
Data from the Company’s financial statements for the three months ended September 30, 2019 show sequential revenue growth of 30%. The Company also received a large additional sales input that is now receivable and will be reflected in Q4 data but actually reflects the operational success achieved in quarter ended September 30. With these additional sales included in Q3 results, the quarter actually showed sequential top-line growth of 62% on over $225K in total sales.
Looking ahead, management anticipates significant expansion in gross profitability and overall sales in the current quarter ending December 31, 2019 due to expanding sales of the Company’s P19 CBD-based products, a strong seasonal tailwind driving Besado Tequila shipments, and continued strong growth in Home Healthcare clientele.
Highlights from Quarter Ended September 30:
- Home Healthcare Segment sees 14,847% sales growth over trailing six-month period
- Negotiated Strategic Partnership Agreement to restart Marketing and Distribution of P19 CBD products
- Officially changed corporate name and stock symbol to better reflect overall business model
- Began negotiations toward game-changing strategic partnership, with details to follow in upcoming communications
- Achieved second consecutive quarter of gross profitability
“It was a great quarter and reflects the scope of the momentum we have in place right now, but falls short of capturing the trajectory we have in front of us,” continued Mr. Williams. “We will be producing an audited version of these results as part of our move to uplist onto the OTCQB next year. And with the help of new partnership agreements and the powerful growth we already see across all segments, we believe Q4 will easily be the best quarter in the Company’s history.”
About ISWH: International Spirits & Wellness Holdings, Inc. (ISWH) is an authorized importer, licensor, and marketer of premium beverage brands, with sales of innovative products and brands worldwide. Based in Nevada, the Company's expertise lies in the strategic development and aggressive early growth of its brands and the establishment of these brands as viable and profitable as an incubator. ISWH intends to nurture emerging brands through critical stages of market development, including conceptualization, go-to-market strategy, supply chain and logistics engineering, integrated marketing, and distribution. In addition, ISWH has now established itself as a health and wellness company with a focus on reshaping the CBD products market through state-of-the-art nanotechnology processes, developing a wide range of nano-infused CBD gummies and beverages formulations. These products will be sold through the Company’s website, as well as through established wholesale and retail distribution channels. The company has also partnered with Bengala Technologies to develop and commercialize enterprise and B2B software technology products targeting the logistics and supply-chain marketplace.
Forward Looking Statements: This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including "could", "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential" and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this report. Except as required by applicable law, we do not intend to update any of the forward-looking statements so as to conform these statements to actual results. Investors should refer to the risks disclosed in the Company's reports filed from time to time with OTC Markets (www.otcmarkets.com).
For Additional Investor Information:
International Spirits & Wellness Holdings, Inc.