Sugarmade, Inc. (OTC: SGMD) - Fiscal 2016 Results - Revenues Grow to $4.35 Million from $2.9 Million - Prepares to Rollout Out Sriracha Seasoning Stix. Sugarmade announced this week results for the 2016 fiscal year of $4.35 million in revenue versus $2.9 million for the previous fiscal year. Gross margins for the 2016 fiscal year were 35%, up from 30% during the previous year. During Fiscal 2015, the Company began an aggressive restructuring program that included a significant acquisition, alignments of staffing positions, streamlining of the product offers and the entrance into new product areas. With this restructuring complete, the Company is planning a series of new product introductions designed to continue to grow its revenue base.
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Sugarmade today also announces its Meat, Meet Heat branding campaign for the upcoming Sriracha Seasoning Stix product launch under its licensing agreement with Irwindale, California-based Huy Fong Foods, Inc., the maker of Sriracha Hot Chili Sauce. The Company plans a November launch, which will include nationwide advertising and online marketing campaigns. Sriracha lovers of all kinds can receive free, no obligation, samples of Sriracha Seasoning Stix at the Company's website at http://www.SrirachStix.com . Sriracha Seasoning Stixs are encapsulated Huy Fong Sriracha Sauce and other seasonings in the form of a "stick" which are inserted into meat, fish and poultry prior to cooking. Sriracha Seasoning Stixs are a hard solid at room temperature, but as heat is applied the sticks begin to liquefy allowing the meat fibers to act like a sponge absorbing all the delicious Sriracha flavors.
In other calendar events and happenings in the around the markets include:
Packaging Corporation of America (NYSE: PKG) recently announced that it has entered into a definitive agreement to acquire substantially all of the assets of Columbus Container, Inc., an independent corrugated products producer, in a cash-free, debt-free transaction for a cash purchase price of $100 million. Under the terms of the agreement, PCA will acquire a full-line corrugated products facility located in Columbus, Indiana, five warehousing facilities and other related operations located in Indiana and Illinois. The transaction is structured as a purchase of assets resulting in a full step-up of the assets to fair market value.
Graphic Packaging Holding Company (NYSE: GPK) will release results for third quarter 2016 on Tuesday, October 25th before the market opens. The same morning, the Company will host a conference call at 10:00 a.m. eastern time to discuss third quarter results. To access the conference call, please go to the Investor Relations section of the Graphic Packaging website: http://www.graphicpkg.com and click on the audio webcast link. For those who need to call in from within North America, dial 800-392-9489 at least 10 minutes prior to the start of the conference call (Conference ID #61299822). Replays of the call will be available for one week following the completion of the call and can be accessed by dialing 855-859-2056.
Archer Daniels Midland Company (NYSE: ADM) also will release financial results for the third quarter of 2016 before the market opens on Tuesday, Nov. 1, 2016. The company will host a webcast at 8 a.m. Central Time to discuss financial results and provide a company update. A slide presentation will be available for download approximately 60 minutes prior to the webcast.
Crown Holdings Inc . (NYSE: CCK) closed up on Tuesday at $55.98 on over 1.93 Million shares traded by the market close. Crown Holdings Inc. designs, manufactures, and sells packaging products for consumer goods in the Americas, Europe, and the Asia Pacific
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