Look Who it Was Random video

Aphria Inc. sales grow 117% in Q1 (OTCQB: APHQF) (TSX: APH)

1,285 views · Published 12 October 2018 · 13:04 · Indexed 26 October 2026

Channel: RICH TV SHOW · 2018 · News & Politics

Watch on YouTube

Aphria Inc. sales grow 117% in Q1 (OTCQB: APHQF) (TSX: APH) - RICH TV LIVE - OCTOBER 12, 2018 - Revenue for the three months ended August 31, 2018 was $13,292, representing a 10% increase over the prior quarter’s revenue of $12,026 and a 217% increase over the same period last year. The increase in the quarter was driven primarily by increased wholesale orders, accounting for 313 kgs. The increase in wholesale orders was comprised of approximately 200 kgs of cannabis trim sold to other LPs, to properly balance inventory levels of specific strains that were not in demand by the Provincial Control Boards and approximately 100 kgs of dried cannabis and cannabis oil, supplied to third party partners conducting clinical drug trials. Cannabis oil sales, as a percentage of volume, increased from 29.2% to 39.1% in the quarter, driven primarily by an internal formula change for our equivalency factor. On a year-over-year basis, revenue in the quarter increased 217.2%.

Adjusted gross profit for the first quarter was $8,458, with an adjusted gross margin of 63.6%, compared to $9,468 with an adjusted gross margin of 78.7% in the prior quarter. The decrease in the adjusted gross margin and adjusted gross profit from the prior quarter largely relates to our internal decision to dispose of 13,642 plants prior to harvest. During the period, the Company was unable to fill all of the open greenhouse positions due to a lack of qualified local labour, which left it with insufficient staff to harvest the levels of production produced in the Aphria One greenhouse in the early summer. As a result of the lower staff levels, one week’s crop rotation outgrew its optimal harvest period. To maintain the highest quality for its patients, and to properly balance production requirements, the Company disposed of the affected plants to ensure the next week’s harvest was grown in optimal conditions. Had this write-off not occurred, the adjusted gross margin would have been higher by 7.4% (or 71.0%). Subsequent to the quarter, Aphria doubled the size of the greenhouse staff in Leamington. Automation, as part of the Part IV expansion, is also expected to be fully operational by the end of Q2-2019, which will further permit Aphria to not only preserve but enhance its industry leading low-cost production standards within the cannabis industry.

Net income for the three months ended August 31, 2018 was $21,176 or $0.09 per share, as opposed to $15,041 or $0.11 per share in the prior year. The increase in net income for the quarter relates to gains on our long-term investment portfolio, primarily our investments in Liberty Health Sciences and Hiku Brands Company Ltd. and the increase in fair value of biological assets caused by the production increase associated with our Part III Expansion project.

Subscribe - https://www.youtube.com/c/RICHTVLIVE
Visit - http://www.richtvlive.com/ a one-stop shop for cryptocurrency, stocks, sports, travel and trending topics. #richtvlive #stocks #news 
Join the RICH TV LIVE FREE Social Media Community - Download the Amino app on your phone or computer and follow the link - https://aminoapps.com/c/RICHTVLIVE/home/
Join the Conversation get the RICH TV LIVE app at Google Play - https://play.google.com/store/apps/details?id=com.app.richtvlive
iPhone App Store - https://itunes.apple.com/us/app/richtvlive/id1212158240?Is=1&mt=8

Popular Uploads - https://goo.gl/tbvXGg
Most Recent Upload - https://goo.gl/unKXBy
YouTube Channel Page - https://goo.gl/yUdG7w
Subscribe - https://goo.gl/q2tLnn
Rich TV Live Playlist - https://goo.gl/e116JF
YouTube support Tubebuddy - https://www.tubebuddy.com/RICHTVLIVE

Disclaimer

Rich TV's company profiles and other investor relations materials, publications or presentations, including web content, are based on data obtained from sources we believe to be reliable but are not guaranteed as to accuracy and are not purported to be complete. As such, the information should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed in Rich TV reports company profiles or other investor relations materials and presentations are subject to change. Rich TV and its affiliates may buy and sell shares of securities or options of the issuers mentioned on this website at any time.

Investing is inherently risky. Rich TV is not responsible for any gains or losses that result from the opinions expressed on this website, in its research reports, company profiles or in other investor relations materials or presentations that it publishes electronically or in print.

We strongly encourage all investors to conduct their own research before making any investment decision. For more information on stock market investing, visit the Securities and Exchange Commission ("SEC") at www.sec.gov.

More from this channel