In a news release, life sciences company Avivagen Inc. (VIV:TSX.V; VIVXF:OTCQB), which develops and commercializes natural antibiotic-free feed products for livestock, companion animal and human applications, announced unaudited financial results for its third quarter 2020 ended July 31, 2020.
Avivagen indicated that in Q3/20 it posted total revenue of $612,530, an increase of $600,046 over the $12,484 it recorded in Q3/19, and a $582,905 increase over the $29,625 it achieved in Q2/20.
The firm advised that the increased revenues in Q3/20 were mainly the result of two major record-setting sales orders from Mexico-based Industrias Melder and Philippines-based UNAHCO. The company noted that it also secured additional sales in other markets including Taiwan and Thailand and that the regulatory approval and distribution agreements that it secured during the quarter in Brazil have already generated the firm's first order there in the world's third largest livestock feed market.
Avivagen CEO Kym Anthony remarked, "We are very pleased to report the strongest revenue quarter in the corporation's history, headlined by record-setting sales in some of the world's most important feed production markets...We have made strong inroads worldwide, and continue to secure regulatory approvals and distribution agreements that provide us with access to some of the largest feed producers around the globe. As both our global customer base and recurring order volumes continue to grow we expect to see greater quarter-to-quarter consistency in sales volume in future periods, but our third quarter results are further evidence of our ability to quickly overcome any sales timing lumpiness to deliver consistent revenue growth and shareholder value on an ongoing basis."
The firm advised that its OxC-beta™ technology is derived from its β-carotene and other carotenoid discoveries. The company noted that these compounds which support immune function are what give many fruits and vegetables their bright colors. The company stated that its OxC-beta™ Livestock product is approved for use in Australia, Brazil, Malaysia, Mexico, New Zealand, the Philippines, Taiwan, Thailand and the U.S.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: Avivagen. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
