Level Brands, Inc. (LEVB) Reports Q2 EPS of $0.17 on Revenue of $3.1M

Level Brands, Inc. (NYSE: LEVB) reported Q2 EPS of $0.17. Revenue for the quarter came in at $3.1 million.

• Total net sales increased 119.6% and 135.1% to $3.1 million and $3.8 million, respectively, for the three and six-month periods ended March 31, 2018.
• Gross profit as a percentage of net sales improved 11.4% to 83.1% for the three months ended March 31, 2018. For the six-month period, gross profit as a percentage of net sales improved 15.0% to 80.1%.
• Net income attributable to common shareholders improved 352.9% to $1.4 million in the three months ended March 31, 2018. For the six-month period, net income improved 122.8% to $271,469, up from a loss of $1.2 million in the prior-year period.

“We are pleased to report strong operating results for the second quarter and first half of fiscal year 2018,” stated Martin Sumichrast, Chairman and CEO of Level Brands. “Our expansion efforts in 2017 positioned Level Brands to capitalize on opportunities in millennial men’s lifestyle markets and the health and wellness arena for women and their families at every age. Complimenting these efforts, we’ve built solid capabilities related to brand management services, proven through early successes with several key customers.”

Mr. Sumichrast continued, “We believe that in working closely with our Chairman Emeritus and Chief Brand Strategist, Kathy Ireland, the Chair, CEO and Chief Designer of kathy ireland® Worldwide, and leveraging the expertise and talent of the kathy ireland ® Worldwide executive team, we have a competitive advantage in securing strategic licenses and joint venture partnerships for our brands, which positively impacts our ability to continue to grow the portfolio of brands we manage and represent.”

“We believe leveraging the kathy ireland® Worldwide ‘blueprint’ for IP development allows us economies of scale, which underpins our ability to bring virtually unlimited products and services of quality through the appropriate distribution channels to meet the demands of our targeted customers. With current executed contracts encompassing products in fashion, accessories, beverages, personal care, health care, and spirits, which are already in development or available at brick and mortar stores and online retailers, we believe we have the right foundation to build upon to generate sustainable shareholder value improvement in the quarters ahead,” concluded Mr. Sumichrast.

For earnings history and earnings-related data on Level Brands, Inc. (LEVB) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Rein Therapeutics Inc. (RNTX) Tops Q2 EPS by 39c
• Boost Run, Inc. (BRUN) Reports Q2 Revenue of $31.1M