Organic To Go (OTCBB: OTGO) today reported preliminary unaudited financial results for the second quarter ended June 30, 2008.
Revenues for the quarter increased 56 percent to approximately $6.0 million, as compared with revenues of $3.9 million in the same quarter last year. Retail sales were approximately $2.7 million, delivery sales were approximately $2.6 million, and wholesale sales were approximately $695,000, which resulted in increases of 72 percent, 45 percent and 46 percent respectively, over the same period last year.
Jason R. Brown, Chairman and CEO, said that, 'Second quarter sales growth reflects our favorable positioning with regards to both organic and acquisition-related expansion. Even in a softening economy, the secular trend towards clean and whole food consumption remains strong and we are poised to continue benefiting from consumers' growing appetite for organic food. Our robust top-line is also enabling us to leverage economies of scale in each of our regional operations, and as previously stated, we intend to reach EBITDA profitability by the end of the year. With a seasoned and highly capable management team now in place, we have built a top-notch organization, one that will capitalize on market opportunities to expand our footprint, and ultimately, deliver profitable growth to our shareholders for many years to come.'
|
Post Release
Get Content
Email News Brief
Saved Articles
Advertising
Handheld
XML/RSS
Post News