SOURCE: Kenergy Scientific, Inc.

July 10, 2017 08:30 ET

Kenergy Scientific, Inc. Announces First Quarter Earnings Highlights

MIAMI, FL--(Marketwired - Jul 10, 2017) - Kenergy Scientific, Inc. (OTC PINK: KNSC), a growing chain of Hibachi Noodle Bars offering Fast, Fresh, Authentic Pan Asian Food. Hibachi Grill & Noodle Bar, today released highlights from their 2017 first quarter results:

Key metrics for the first quarter, versus the same period a year ago, were:

  • Total revenue increased from $252,169 to $562,218
  • Company-owned restaurant sales increased by 45% to $562,218
  • Net earnings increased 27% over the same period for 2016
  • Adjusted net earnings increased 27% for the first quarter 2017.

Adel Nassar, President and Chief Executive Officer, commented, "In the first quarter, we are pleased that sales growth on a store to store basis, was positive for both company-owned locations, and outperforming any projections in casual dining segment. We believe our dishes, which are carefully prepared with only the highest quality ingredients, coupled with our focus on customer service and satisfaction, which are our top priority, has led to the improved margins and profitability."

Erwin Vahlsing Jr., CFO stated, "We're forging the strong execution of our fundamental business drivers, a constant focus on our customers, the benefits of our organization and, suppliers and employees to seize the opportunities before us. We're demanding from ourselves to identify and pursue initiatives that can bring the best benefit to our customers. I'm confident that we're on the right path and well-positioned to unlock growth and deliver against our velocity growth plan for 2017 and beyond."

The company expects the following in 2017:

  • Same-store sales growth month-over-month
  • Implementing our Fast Track Delivery systems resulting in a sales increase of between 8% and 10%
  • Signed executed lease for third Location. Achieving additional 45% increase in new sales
  • Expansion of our Flagler Location, adding additional sales of 15% to 20%.

About the Company:

The Company operates a growing chain of Hibachi Noodle Bars offering Fast, Fresh, Authentic Pan Asian Food. Hibachi Grill & Noodle Bar was established in 2010, in Miami, FL. Our dishes are carefully prepared with only the highest quality ingredients. Customer service and satisfaction is our top priority so please visit our restaurant and enjoy the vibrant atmosphere. We strive to offer the best quality food and taste to our clients without the high price attached to it. We serve fast, fresh, authentic Japanese Food. From soups and salads, hibachi chicken, steak and seafood, to fried rice, noodle bowls and Yakisoba as well as Thai dishes. All healthy, fast and convenient.

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