would like to highlight OurPet's Company
). The company develops, produces, and markets various pet accessory and consumable products designed to awaken pets' natural instincts, be it in feeding, playing, or waste management. Sold globally through pet specialty retailers, food, drug and mass chains, e-commerce and international channels, the company's products are marketed under the OurPets®, Pet Zone®, and PetTastic® brands, with well-known sub-brands such as Play-N-Squeak™, Cosmic Catnip™, Durapet, SmartScoop, and Flappy. In total, OurPet's has an intellectual property portfolio featuring more than 160 individual patents, giving the company sustainable access to the pet products industry for the foreseeable future.
In the company’s news,
OurPet’s Company develops, produces and markets various accessories and consumable pet products designed to awaken pets’ natural instincts. Sold globally, the company’s products are marketed under the brand names – OurPets® for the Pet Specialty channel, Pet Zone® for food, drug and mass chains and Petastic® for the value channel. The Company’s sub-brands Play-N-Squeak™, Cosmic Catnip™, Go! Cat! Go!®, Durapet ™, SmartScoop™ and Flappy™ have become well known in the pet industry.In total, OurPet’s has an intellectual property portfolio featuring more than 160 individual patents, giving the company sustainable access to the pet products industry for the foreseeable future.
In recent years, the U.S. pet products and services market has experienced strong growth, with total sales accounting for approximately $73 billion in 2014, according to a report by Packaged Facts. In 2015, this strong performance is expected to continue, building on the recent rise in related ecommerce purchases, as well as an uptick in dog and cat ownership throughout the country. In order to capitalize on this market performance, OurPet’s has continued to expand its product line in recent months by introducing both the Catty Whack® and the Zoom Plume™ products at the Las Vegas SuperZoo convention for pet retailers earlier this year.
“We are very excited about our new line-up of products,” Steven Tsengas, chairman and chief executive officer of OurPet’s, stated in a news release. “Our goal is to create products that work in tandem with pets’ natural instincts to ensure their emotional, mental and physical health while always helping to increase the bond between pets and their parents.”
In the first quarter of 2015, OurPet’s successfully leveraged the strong performance of the pet products and services market to record financial results. The company’s net revenue for the period was just under $5.6 million, which was a 7.3 percent year-over-year increase. Additionally, OurPet’s achieved a 59 percent year-over-year increase in net income, recording more than $213,000 for the quarter.
“We achieved solid results for the first three months of 2015, which included… the second highest first quarter income in four years,” continued Tsengas.
OurPet’s, through its innovative and extensive line of popular pet products, is in a favorable strategic position to continue building upon its recent market growth. For prospective shareholders, this positioning makes the company an intriguing investment opportunity in the months to come. Look for OurPet’s to capitalize on steady market performance while providing an opportunity for the company to realize strong investor returns in the future.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.