SIMI VALLEY, Calif., May 31, 2016 /PRNewswire/ -- Vapor Hub International Inc. (OTC: VHUB) (www.vapor-hub.com) announced today sales of $4.5 million for the nine months ended March 31, 2016, compared to $3.6 million in the previous comparable time period. Gross profit totaled $1.9 million for the nine months and gross margins improved to 39.4 percent from 32.2 percent for the prior year period as the Company is now distributing more of its proprietary products rather than purchasing products for resale. "A recent 18 percent decrease in our payroll will help our financial results as we move forward," Mr. Winther said.
The Company commented in its 10Q filing www.sec.gov on recent rules concerning vaping and e-cigarettes promulgated by the U.S. Food & Drug Administration. "We plan to put out more of our Limitess Mod products before August 2016, allowing us to continue selling these products for two years without having to submit a new product application at the FDA," Mr. Winther explained.
The Company's history was detailed at: http://vapenewsmagazine.com/april-2016/vape-vixen-kelly-winther-event-planner-turned-vapor-hub-vp "We are proud of how quickly we have successfully grown," Mr. Winther said.
About the Company
Vapor Hub International Inc. is a California-based company engaged in the development, production and sales of electronic cigarette products, including high quality e-liquids, custom mechanical mod e-cigarettes, and unique personal modifications.
This press release contains "forward-looking statements," as defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this press release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the statements contained in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
E & E Communications
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vapor-hub-international-announces-sales-increase-gross-margins-improving-300276819.html
SOURCE Vapor Hub International Inc.