Leading Brands, Inc. Announces Q1 Results
LEADING BRANDS (LBIX)
US:NASDAQ Investor Relations:
investors.lb.com
Company Research
Source: GlobeNewswire
VANCOUVER, British Columbia, July 17, 2017 (GLOBE NEWSWIRE) -- Leading Brands, Inc. (NASDAQ:LBIX), announces results for its first quarter of fiscal 2017, which ended May 31, 2017. All financial amounts are denominated in Canadian dollars, with all financial figures rounded to the nearest $000. The Company’s net loss from continuing operations for Q1 was $778,000 (or $0.28 per share) versus a net loss of $549,000 (or $0.19 per share) the prior year. Gross revenue for Q1 2017 was $439,000, versus $427,000 in the comparable period of last year. Discounts, rebates and slotting fees were $94,000 in Q1 2017, a decrease of $54,000 compared to the same period of the prior year. Selling, General and Administrative Expenses (“SG&A”) were $748,000 in Q1 of fiscal 2017, versus $783,000 in Q1 of the previous year. Gross profit margin for the quarter was (2.5%), up from (15.6%) in the same quarter last year. The Company continues to adjust its operations from a bottler/distributor to s
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