Alkaline Water Company Inc (OTCMKTS:WTER) developer firm of advanced electrolysis beverage process packaged and offered in 500ml, 700ml, 1-gallon and 1-liter, 3-liter sizes under the brand “Alkaline88” reported record revenue for the year ended March 31, 2015.
Alkaline reported that revenue for the fiscal ended March 31, 2015 surged 550% year over year to more than $3.7 million. The company expects the revenue for fiscal ending March 31, 2016 to surpass $10 million. In related news, the management informed that due to temporary unexpected resource limitations the Company may not file its Form 10-K on June 29, 2015. As such, the management plans to submit Notification of Late Filing and further expects submitting Form 10-K on or before July 14, 2015.
The expert comments
Steven P. Nickolas, the President and CEO, said that they are thrilled to witness that annual sales have surged more than six fold over last one year. The biggest factor for continued growth in last one year was the major expansion of national sales footprint. Alkaline Water had an expansive market opportunity and that can be attributed to many reasons.
Mr Nickolas reported that there are almost no competitive products sized above 1.5 liter in the market. In addition, customer acceptance for the alkaline water continues to grow significantly. It is translating into the water of choice for a number of health conscious customers. As stated when Alkaline Water Company Inc (OTCMKTS:WTER) commenced this business, the management felt that a large percentage of retailers would witness strong demand for bulk alkaline water which can be sold at a price point considerably less, per ounce compared to other existing brands. It is particularly applicable when the target customers are health conscious customers.
IN last trading session, the stock price of WTER surged more than 4% to close the trading session at $0.142. The gains came at a share volume of 2.60 million compared to average share volume of 519,998.