Financial Highlights for the three months ended June 30, 2018:
- Revenues were $8.8 million, a 45% increase, as compared to $6.1 million for the same period the prior year.
- Gross profit was $702 thousand, a 46% increase, as compared to $480 thousand for the same period the prior year.
- Net profit was $782 thousand for the three months ended June 30, 2018, as compared to net loss of $839 thousand for the same period the prior year.
Financial Highlights for the six months ended June 30, 2018:
- Revenues were $20.8 million, a 103.5% increase, as compared to $10.2 million for the same period the prior year.
- Gross profit was $1.3 million, a 55% increase, as compared to $843 thousand for the same period the prior year.
Grigorios Siokas, Chief Executive Officer commented, “I am pleased to announce the first half of this year was filled with opportunities for us due to the aggressive sales and marketing efforts we implemented in 2017. We continued to introduce our product lines to our target markets and through these efforts we’ve been focusing on numerous applications to enhance our knowledge of the challenges encountered in these markets that require innovative solutions where our pharmaceutical products are in demand. We are excited to have our first quarter of earnings and look forward to what the rest of this year has in store.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece & In Harlow, UK. More information is available at www.cosmosholdingsinc.com.
FORWARD LOOKING STATEMENTS
Except for historical information, this news release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve unknown risks, and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Important factors that might cause such differences are discussed in the Company's filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.