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BRIEF-Neptune Wellness Solutions Posts Qtrly Total Revenues of $4.4 Million

Published 2019-08-14, 06:55 a/m
© Reuters.  BRIEF-Neptune Wellness Solutions Posts Qtrly Total Revenues of $4.4 Million
NEPT
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Aug 14 (Reuters) - Neptune Wellness Solutions Inc NEPT.TO :

* NEPTUNE REPORTS FISCAL 2020 FIRST QUARTER RESULTS

* EXPECT THAT OUR NEW CONTRACTS WITH TILRAY AND TGOD WILL OFFER STRONG AND CONSISTENT REVENUE OVER NEXT THREE YEARS

* QTRLY TOTAL REVENUES REACHED $4.4 MILLION VERSUS $5.2 MILLION

* ANNOUNCES CREATION OF NEPTUNE VENTURES, A STRATEGIC INVESTMENT ARM AND TECHNOLOGY INCUBATOR

* Q1 REVENUE VIEW C$5.9 MILLION -- REFINITIV IBES DATA

* IN CANADA, NEAR-TERM CAPACITY CONSTRAINTS ARE EXPECTED TO BE RESOLVED IN SEPTEMBER

* IN U.S. , CAPACITY OF OUR SUGARLEAF PLANT IS EXPECTED TO REACH 1,500,000 KG BY END OF DECEMBER

* NUTRACEUTICAL DIVISION HAS RECENTLY SEEN AN INCREASE IN DEMAND FOR HEMP-DERIVED CBD SOURCING AND FORMULATIONS

* QTRLY NET LOSS OF $6.5 MILLION AN INCREASE COMPARED TO A NET LOSS OF $4.1 MILLION LAST YEAR

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