Revenue Improved 575% and Gross Profit Improved 434% compared to the three months ended September 30, 2016
CHICAGO, IL- - November 20, 2017 - Cosmos Holdings, Inc. ("the Company") (OTCQB: COSMD & COSM), an international pharmaceutical company, announced financial results for the quarter ended September 30, 2017.
- Quarter ended September 30, 2017, versus the quarter ended September 30, 2016, revenue improved 575% to $9.5 million from $1.4 million.
- Revenue improved sequentially 56%, from $6.1 million in the 2017 second quarter to $9.5 million in the 2017 third quarter.
- Gross profit increased 434% to $774,813 in the third quarter of 2017 from $144,950 in the third quarter of 2016.
- Nine-month period ended September 30, 2017, versus the nine-month period ended September 30, 2016, revenue improved 464% to $19.7 million from $3.5 million.
- Gross profit increased 415% to $1,618,603 in the nine months ended 2017 from $314,332 in the nine months ended 2016.
- Cosmos expanded its sales network to another four countries; its current network consists of over 110 customers and vendors in 16 different countries.
- Cosmos continues to diversify customer and vendor base, reducing client concentration risk and fueling the company’s future growth.
- Cosmos’s clients include some of the largest European wholesalers.
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.
Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.
FORWARD LOOKING STATEMENTSExcept 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.