SOURCE: Nutroganics, Inc.

Nutroganics, Inc.

April 01, 2015 09:00 ET

Nutroganics (NUTT) Announces March Revenue Exceeds $1 Million, First Quarter Revenue Exceeds $3.4 Million; Raises Guidance

BETHESDA, MD--(Marketwired - Apr 1, 2015) - Nutroganics, Inc. (OTC PINK: NUTT) ("Nutroganics") announces that it recorded over $1 million in revenue in March 2015 and over $3.4 million for the first quarter of 2015. Full quarterly results will be announced before May 15, 2015.

David Sackler, Nutroganics' President & CEO, said, "We are pleased to announce our third consecutive month with more than $1 million in revenue as well as quarterly revenue that is up at least 35% over Q4, 2014. Q2 is looking strong at this point as well. We are looking to add a minimum of 30,000 square feet of new manufacturing and warehouse space in Q2 at our NuStar subsidiary in order to accommodate the growth in our business. NuStar's business has nearly quadrupled since we acquired it last April. Our Silverbow honey subsidiary continues to grow as well, and as our new Silverbow management institutes new controls and initiatives, we expect to see continued positive results." 

Nutroganics also announced today that, given continued favorable trends, it expects its revenue will exceed $5.9 million for the first half of 2015 (up from $5.5 million) and $12.6 million for all of 2015 (an increase from $12.0 million).

Nutroganics also announces that, while it continues to review options for a potential relationship with Wholesoy & Co., given Wholesoy's recent announcement that it is ceasing operations, a transaction appears unlikely. Nutroganics' financial exposure to Wholesoy is limited to travel costs associated with due diligence.

About Nutroganics:

Nutroganics, Inc. acquires and grows revenue-generating businesses operating in the healthy lifestyle marketplace, and seeks to capitalize on synergies from manufacturing through distribution. Nutroganics owns Silverbow Honey Company, a producer and packager of honey products founded in 1945 and based in Moses Lake, Washington and NuStar Manufacturing, LLC, a Utah based packager of nutritional products and supplements.

For more information, contact David Sackler at dsackler@nutroganics.com or (240) 223-1000, and/or Rich Kaiser, Investor Relations, YES INTERNATIONAL, rich@yesinternational.com, 757-306-6090.

Forward-Looking Statements:

This release may contain forward-looking statements, which involve known and unknown risks, uncertainties, and other factors, which may cause Nutroganics' actual results, performance, or achievements to be materially different from actual future results expressed or implied by the forward-looking statements. We undertake no obligation to update any forward-looking statements after the date of such statements.

Contact Information

  • Contact
    Rich Kaiser
    757-306-6090