White Label Liquid, Inc. Reports Fiscal Year 2018 Financial Results: Revenues Top $7 Million, Greatly Exceeding Previous Year's Revenues by Over $5 Million
Company continues to prove profitable for shareholders with 250 percent year-over-year increase in revenues
DAYTONA BEACH, Fla., April 11, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- White Label Liquid, Inc. (OTC: WLAB) ("the Company"), a leading provider of premium private-label services for the cannabis industry, reported fiscal year 2018 financial results, with the Company recording revenues of $7,006,110. That number greatly exceeded by over $5 million the revenue reported for 2017, demonstrating the Company's profitability with a 250 percent year-over-year increase in revenue earned.
The Company believes that the strong end-of-the-year results further position it to be a reliable partner to those seeking to be successful in the burgeoning CBD industry throughout 2019 and beyond.
"We had a great year, but it's only just the beginning," said White Label Liquid CEO Yaron Elkayam. "These numbers reflect not just the hard work of our partners all along our supply chain; they are also a reflection of the growing strength of the CBD industry."
White Label Liquid's expert team provides businesses looking to enter the CBD space with a variety of private label, hemp-derived CBD products to help them meet and exceed a broad range of their customer needs and desires. The Company recently announced that it had moved into a new 51,000-square-foot, all-in-one operations facility to manufacture CBD in-house, using industry standard, "good manufacturing practices" ("GMP"). White Label Liquid, Inc. offers business owners cutting-edge solutions with CBD products that are available in over 20 categories and 300 SKU's.
(Click here to see a video of White Label Liquid's manufacturing operations and learn more about the Company.)
Growing mainstream acceptance for organic pain-relieving products, along with industry-supporting government legislation, and increased consumer demand are vital reasons why experts estimate that the American hemp-derived CBD market will grow to $22 billion within the next three years. Moreover, the overall global cannabis industry is expected to reach $146.4 billion by 2025.
"We know that to be the best in any industry, you have to continue to grow and innovate. I am confident that our team will build on the recent investments that we've made in our state-of-the-art manufacturing, logistics, and production capabilities and deliver even better figures for 2019."
About White Label Liquid, Inc.: White Label Liquid is a leading one-stop manufacturing service providing premium custom-blended products containing hemp-derived CBD oil, all of which are sold to a wide variety of companies including major and small brands, chain stores, vape shops, distributors and dealers worldwide. The Company has the capability to produce up to 50,000 units per day in various packaging sizes and shapes using custom labels and customized presentation packaging. It merged last year with the former Simply Innovative Products, Inc. to create a publicly-traded company under the White Label Liquid, Inc. name dedicated to sharing its veteran industry expertise for the benefit of customers and shareholders alike.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
White Label Liquid, Inc.