Verus International, Inc. Reports Earnings Results for the Second Quarter Ended April 30, 2020
June 22, 2020 at 05:03 pm EDT
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Verus International, Inc. announced earnings results for the second quarter ended April 30, 2020. For the second quarter, the company announced sales was USD 4.647 million compared to USD 2.942 million a year ago. Operating loss was USD 6.997 million compared to USD 243,688 a year ago. Net loss was USD 7.313 million compared to net income of USD 2.164 million a year ago. For the half year, sales was USD 10.821 million compared to USD 5.386 million a year ago. Operating loss was USD 8.580 million compared to USD 281,046 a year ago. Net loss was USD 9.816 million compared to net income of USD 1.826 million a year ago.
Verus International, Inc. is a multi-line consumer packaged goods (CPG) company developing branded product lines in the United States and on a global basis. The Company is focused on international consumer packaged goods, foodstuff distribution and wholesale trade. The Company markets its consumer food products under its own brand primarily to supermarkets, hotels, and other members of the wholesale trade. The Company provides frozen foods, particularly meat, poultry, seafood, vegetables, and French fries with beverages. It also provides cold-storage facilities and is seeking sources for fresh fruit, produce and similar perishables, as well as other consumer packaged foodstuffs. The Company has its regional presence in the Middle East and North Africa (MENA) and sub-Saharan Africa, with deep roots in the Gulf Cooperation Council (GCC) countries, which includes the United Arab Emirates (UAE), Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait.
VERUS INTERNATIONAL, INC. 