OMID Posts First-Quarter 2022 Financial Statements
May 13th, 2022
News, Top News
Phillipsburg, NJ , May 13, 2022 (GLOBE NEWSWIRE) — Today, OMID Holdings, Inc. (OTC Pink: OMID) posted its Unaudited Financial & Disclosure Statements for the Three Months Ended March 31, 2022. During the period, OMID realized record first-quarter revenue; some notable financial highlights are further detailed below.
Highlighted Operating Results for the First Quarter of 2022
- Revenue for 1Q2022 was $358,772 compared to $278,124 for 1Q2021, a 29% improvement from the comparative quarter in the previous year.
- Gross Profit for 1Q2022 was $175,247 compared to $139,126 for 1Q2021, a 26% improvement from the comparative quarter in the previous year.
- Net Income before income taxes for 1Q2022 was $75,209 compared to $47,525 for the 1Q2021, a 58% improvement from the comparative quarter in the previous year.
“As we have come to expect over the past several years, the first quarter is frequently our slowest quarter of the year. Nonetheless, I see the year-over-year improvement – as well as record revenues for this period – as an encouraging sign. We look ahead with optimism for continued success throughout the rest of 2022.” stated Adam Frank, Chairman & CEO of OMID Holdings, Inc.
About OMID Holdings, Inc.
OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) Florida corporation which focuses on developing and manufacturing various health and wellness products at its FDA-registered manufacturing facility in Phillipsburg, NJ. With a diverse portfolio of product types, OMID specializes in formulations which contain cannabis extracts, primarily CBD, as well as other herbal ingredients. The company’s objective is to provide quality, integrity, and value with notable consumer benefits derived from all of its finished goods. Acts 2:12.
For more information about the company, please visit https://omidholdingsinc.com/.
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