Earnings Buzz: Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA)

Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) negotiated 9,785 shares against it an average volume of 77,929 shares. The stock concluded the recent trade at $1.81 with upbeat trend move of -2.69%. The company has total market value of 11.687M billion. The company has got a 52-week exceptional price of $5.92 and reached a 52-week lowest of the share price at $1.56. The daily trading range was observed between a day’s low price of $1.75 to a day’s high price of $1.85.

Sonoma Pharmaceuticals, Inc. (NASDAQ: SNOA) reported financial results for the fiscal year 2018 and fourth quarter ended March 31, 2018.

Total revenues of $16.7M for fiscal year 2018 increased by $3.8M, or 30%, as contrast to $12.8M for fiscal year 2017. Product revenue of $15.7M for fiscal year 2018, increased $3.7M, or 31%, contrast to the same period last year. This increase in product revenue was driven by strong growth in the United States, up $1.8M, or 27%, and by higher international sales, up $1.9M, or 36%.

Total revenue of $3.7M for the fourth quarter ended March 31, 2018, was down slightly when contrast to $4.0M for the same period last year. Product revenues of $3.3M for the fourth quarter ended March 31, 2018, were down 14%, or $530,000, when contrast to the same period last year, largely as the result of lower sales in the United States and rest of world, partly offset by increases in Europe and Latin America.

Product revenues in the United States of $1.4M, for the three months ended March 31, 2018, reduced by $477,000, or 26%, as contrast to $1.8M for the three months ended March 31, 2017. This decrease was mostly the result of lower sales of the company’s dermatology and animal health care products, partly offset by a raise in sales of our acute care products.  The decline in the dermatology revenue for the fourth quarter contrast to the same period in previous year was largely Because of lower units shipped as wholesalers reduced their inventory, higher rebate costs Because of impact of health care plan deductibles and the reset of those deductibles for most plans in January, together with the growth of high deductible health care programs.

Product revenue in Latin America for the quarter ended March 31, 2018, was $912,000, up 9% from the same period last year. This amount reflects the sale of products to Invekra following the completion of Sonoma’s asset sale to Invekra in October 2016. Sonoma will continue to supply products to Invekra until Invekra’s manufacturing facility is operational.

Product revenue in Europe and the rest of the world of $995,000, for the three months ended March 31, 2018,  reduced by $131,000, or 12%, as contrast to $1.1M for the three months ended March 31, 2017. This decrease was the result of lower sales in China and the Middle East, partly offset by higher sales in Europe, Singapore, Hong Kong and India.

Sonoma stated gross profit of $1.3M, or 36% of total revenue, during the three months ended March 31, 2018, contrast to a gross profit of $1.9M, or 48% of total revenue in the same period in the previous year.  The decrease in gross profit, as a percentage of revenue, was primarily Because of Latin America as a result of  higher sales to Invekra at a very low profit margin and the decline in the higher margin dermatology revenue in the United States.

 

Operating expenses minus non-cash expenses during the fourth quarter of fiscal year 2018 were $5.1M, up $664,000, or 15%, as contrast to the same period in the previous year. This increase in operating expenses was mostly Because of higher sales, marketing, legal and administrative expenses in the United States, partly offset by a decline in Latin American expenses.  A key driver to the growth in operating expenses is the increase in the number of dermatology sales representatives, contrast to the same period last year.

In the liquidity ratio analysis; Sonoma Pharmaceuticals, Inc.’s (SNOA) debt to equity ratio was 0.03 while current ratio was 4.00. The company has the institutional ownership of 21.00% while the Beta factor was 0.98. The stock’s RSI amounts to 43.87.

 

Jessica Kraus-  Healthcare

I am Jessica Kraus and I give “Getnewsalert.com” the best and deepest insights into the latest happenings in the Innovation and Healthcare segment. My journey started as an independent financial consultant for more than 11 years in the city and my craving to see the world has taken me to nations around the globe and given me the chance to report for a portion of the best news associations. Lately, I have started to use my envelopment and experience in healthcare financial news to become a full-time editor.

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