Featured | 2 years ago

Vapor Corp (OTCMKTS:VPCO) Appoints New CFO

Vapor Corp (OTCMKTS:VPCO) has recently named John Ollet, former Systemax Inc. (NYSE:SYX) Executive Vice President (EVP) of Finance, as its new Chief Financial Officer (CFO).

“This is an exciting stage in our company’s growth and John’s strong public company experience makes him ideal for our organization,” commented Jeffrey Holman, Vapor CEO.

Q3 Financial Results

In other news, Vapor has recently unveiled its third quarter earnings report.

The company had $3.05 million in total sales, up year-over-year from $1.31 million. This includes $1.47 million in Vapor sales and $1.58 million in Grocery sales.

Vapor cost of sales had amounted to $0.66 million while Grocery cost of sales had amounted to $0.94 million. Consequently, the company had $1.45 million in gross profit, up year-over-year from $0.91 million.

The company’s operating expenses had amounted to $2.50 million, down year-over-year from $2.70 million. This includes selling, general, and administrative (SG&A) expenses of $2.49 million, up year-over-year from $2.26 million; and retail store and kiosk closing expenses of $9,243, down year-over-year from $0.43 million.

Vapor had a net loss of $2.40 million, which is comparable to the net income of $33.62 million seen during the same period in 2015.

Year-to-Date (YTD) Financial Results

YTD, the company has $7.40 million in total sales, up year-over-year from $3.13 million. This includes Vapor sales of $5.31 million and Grocery sales of $2.09 million.

Vapor cost of sales have amounted to $2.44 million while Grocery cost of sales have amounted to $1.25 million. Consequently, the company has $3.71 million in gross profit, up year-over-year from $1.86 million.

Vapor has incurred $9.44 million in operating expenses, up year-over-year from $7.57 million. This includes SG&A expenses of $7.12 million, up year-over-year from $6.85 million; impairment of goodwill and intangible assets expenses of $1.98 million; and retail store and kiosk closing expenses of $0.34 million, down year-over-year from $0.72 million.

It has a net loss of $19.79 million, which is comparable to a net income of $26.91 million seen during the same period last year.

On Thursday, Vapor has closed at $0.0001 while Systemax has closed at $8.98.

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