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Friday, May 29, 2020
Ceapro (CRPOF)(CZO)
Robust Q1 Results With 34% Sales Growth
Ceapro, Inc. is a publicly-held (TSX-V: CZO, OTCQX: CRPOF) Canadian biotechnology company developing and commercializing “active ingredients” for the healthcare and cosmetic industries. Ceapro’s active ingredients are primarily derived from oats and other renewable plant resources. The Company utilizes its proprietary plant extraction-based manufacturing process to supply active ingredients based on “oat beta glucan and avenanthramides”. Ceapro has patented a technology known as “Pressurized Gas eXpanded (PGX) technology”, which has superior features when compared to conventional drying and purification technologies. Using PGX technology, Ceapro generates novel biopolymers and biocomposites with micro/nanoparticles.
Cosme Ordonez, Senior Research Analyst, Noble Capital Markets, Inc.
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Solid Q1/F2020. Ceapro yesterday announced financial results for the first quarter of F2020. Despite the ongoing COVID-19 pandemic, the quarter was highlighted by strong results as Ceapro reported a net profit of $1.126 mm compared to a net loss of $(0.64) mm in Q1/F2019. Product sales in the quarter increased 34% relative to Q1/F2019.
Revenue growth driven by avenanthramides sales. The 34% growth in total revenue relative to last year’s quarter was primarily attributed to a 68% increase in avenanthramides sales. In Q1/F2020, Ceapro generated CFO of $0.531 mm versus CFO of $0.367 mm in Q1/F2019. In the quarter, gross margin increased to…
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