aphria-exploding-over-30-as-predicted
Aphria Exoding over 30% as predicted - RICH TV LIVE - AUGUST 2, 2019 - Aphria Inc. Announces 158% Increase In Adult-Use Sales And Profitable Fourth Quarter
CNW Group - Thu Aug 1, 3:15PM CDT
Reports Profitable Fourth QuarterRecord Net Revenue of $128.6 Million, Up 75% from Prior Quarter Revenue for Adult-use Cannabis of $18.5 Million, Up 158% from Prior QuarterProvides Fiscal Year 2020 Outlook
Aphria Inc. ("Aphria" or the "Company") (TSX: APHA and NYSE: APHA) today reported its results for the fourth quarter and fiscal year ended May 31, 2019. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts.
"It's a new day at Aphria. Our team's solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter," stated Irwin D. Simon. "Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term. We built upon existing business fundamentals and capabilities, streamlined processes, strengthened governance, and focused on building brand awareness. Together, we have nurtured an entrepreneurial culture of accountability through data-driven decision-making for value creation in the global medical and adult-use cannabis industry. Today's Aphria has a stronger foundation for long-term growth and success."
Key Operating Highlights
-- Net revenue of $128.6 million in the fourth quarter, an
increase of 75% from prior quarter and 969% from prior year.
-- Revenue for adult-use cannabis of $18.5 million in the fourth
quarter, up 158% from prior quarter.
-- Net income of $15.8 million and adjusted EBITDA of $0.2 million
in the fourth quarter.
-- Adjusted EBITDA from cannabis operations of $1.9 million in the
fourth quarter.
-- Closed a 5.25% convertible senior notes offering for net
proceeds of over US $335 million.
-- Ended quarter with a strong balance sheet and liquidity,
including $571 million of cash, cash equivalents and liquid
marketable securities, to fund planned Canadian and
International growth.
-- Settlement of Green Growth Brands takeover bid resulting in $50
million cash received and an additional $39 million to be
received in November.
-- Planted more than 200,000 plants in the new expanded area of
Aphria One cultivation.
-- On-track for annual production capacity of 255,000 kilograms
when all facilities are fully licensed.
-- Granted the maximum amount of lots within the German tender
process, a total of five, and is the only licensed producer in
Germany with the permission to grow all three strains of
medical cannabis approved by the German Federal Institute for
Drugs and Medical Devices.
-- Introduced a CBD-based nutraceutical product line for the
German market.
-- Enhanced the executive team with appointment of several key
positions.
Subsequent Events
-- Signed on as a PAX Era brand partner for the PAX Era device and
platform.
-- Aphria's subsidiary Marigold Projects Jamaica Limited received
a retail Herb House license from Jamaica's Cannabis Licensing
Authority to open its first store at the Peter Tosh Square,
Unit #51, Pulse Center, 38a Trafalgar Road, overlooking the
Peter Tosh Museum in New Kingston, Jamaica.
Key Financial Highlights
Three months ended
Three months ended
Twelve months ended
Twelve months ended
May 31, 2019
May 31, 2018
May 31, 2019
May 31, 2018
Net revenue $128,568 $12,026 $237,110 $36,917
Gross profit $36,007 $18,212 $75,421 $40,887
Adjusted cannabis gross profit (1) $15,165 $9,468 $40,596 $27,912
Adjusted cannabis gross margin (1) 53.0% 78.7% 53.3% 75.6%
Adjusted distribution gross profit (1) $12,274 $0 $19,805 $0
#RICHTVLIVE #APHRIA #STOCKMARKET
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https://www.youtube.com/watch?v=Yv6YMYP0Rfs
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