Boomer Provides Shareholder Update and Q1 Guidance With New Revenue and Profit Forecasts
Boomer Holdings (OTCQB: BOMH) announced a shareholder update reflecting strong operational performance with record Q1 results. For the quarter ending October 31, 2020, the company reported revenues of $28.8 million and operating profits of $7.9 million. The updated fiscal year revenue forecast ranges between $90.5 million and $115.5 million, driven by e-commerce growth, projected to reach $66.4 million by January 2022. A new proprietary marketplace, boomerstore.com, will enhance customer access to various wellness products.
- Q1 revenue of $28.8 million and operating profit of $7.9 million.
- Forecasted sales of $90.5 million to $115.5 million for the fiscal year.
- E-commerce revenue projected to reach $66.4 million for year ending January 2022.
- Launch of boomerstore.com to expand product offerings.
- None.
LAS VEGAS, April 8, 2021 /PRNewswire/ -- Boomer Holdings, Inc. ("Boomer" or the "Company") (OTCQB: BOMH), an innovative Consumer Products Company specializing in a large variety of premium quality wellness and everyday use products under the Boomer brand name. The Company provided a shareholder update on the Company's operations in conjunction with its change of its fiscal year end to January 31.
The Company had a record quarter ending October 31, 2020 with revenue of
Mike Quaid, CEO of Boomer Naturals said: "While we are extremely proud to report our results and the accomplishments of the Boomer Naturals team over the past year, we are more excited for the growth that we hope to come in 2021. Boomer Naturals has taken its meteoric success over the last year and reinvented itself. We are at the beginning of what I believe to be one of the great growth stories of 2021."
Studies show that consumers are less willing to buy 'Made in China' items in the wake of the Coronavirus pandemic, which we believe will help fuel growth as all Boomer products are made in Vietnam or the USA. 1
The Company is preparing the launch of its proprietary marketplace: boomerstore.com which will allow the Company to expand its offering to its loyal group of over 200,000 online customers while expanding its already significant retail sales footprint.
"The first quarter of 2021 for Boomer has been focused on preparation to service the expected demand Boomer has created for the rest of the year," said Mr. Quaid. "We have deployed our capital in a strategic manner and stand ready to reap the benefits in Q2 and beyond."
Boomerstore.com will provide new and already established consumers with direct access to Boomer Naturals three pillars of wellness and everyday use products: Protect, Defend and Enhance.
Protect
Boomer Naturals is already well known for the best-in-class facemasks and PPE offerings enhanced by their unique silver infused fibre technology. These masks have become a top seller at CVS stores and other retail locations. Boomer also offers face shields, coveralls and hand sanitizers.
Defend
The Company already vends a suite of immunity boosting botanical products and healthy living products and is excited to announce it is ready to launch a new suite of premium products enhanced with Boomer silver technology.
The Company plans to launch the following silver infused products and more to match existing consumer demand in the first six months of 2021:
- Bedding
- Socks
- Yoga mats
- Yoga clothing
- T-shirts
- Leggings
- Underwear
Enhance
Through an exclusive partnership in Vietnam Boomer Holdings will launch Vietnamese instant coffee to the American Market.
Vietnamese coffee naturally has nearly twice the caffeine of popular instant coffees with a preferable flavour. Boomer believes it will open up an untapped market of consumer demand with its superior instant coffee stick packages.
"Vietnamese coffee is booming in Europe, Asia and across the globe however has yet to gain a significant foothold in America." States CEO Mike Quaid. "It has typically been difficult for US based retailers to get a consistent, premium quality Vietnamese coffee supplier for the American Market. Boomer Holdings has partnered with just such a supplier. We are certain that once the American consumer tries this new and superior version of instant coffee, the stars will align and they will buck their current coffee and get on the Boomer Coffee train."
The Company is also launching a full line of instant serve packs including vitamin, workout, libido, sleep, calm, and immune powder mixes. These products will be excellent for e-commerce due to their ease of shipping.
An Enhanced Focus on E-Commerce
Now that the Company has an established foothold in traditional brick and mortar retail operations, it will focus on aggressively expanding its ecommerce business.
The Company's goal is to add over 100 new products in 2021 and to expand our DTC database from over 200,000 to millions.
Many of the Boomer products are designed to create recurring residual revenue.
Boomer Holding's E-Commerce division has the highest margin in the Company, with many products averaging
The lifetime value of a Boomer customer can often be in the thousands of dollars. The Company currently has online customers that have reordered over twenty times in the last year.
Boomer Holdings is forecasting E-Commerce revenue to grow to
Updated Fiscal Year Forecast
The Company expects sales to range from
"Boomer Holdings is already growing at a rate that would make many existing companies envious." Said Mike Quaid. "We look forward to providing our shareholders with tremendous value in 2021 and years into the future".
About Boomer Naturals
Boomer Naturals is a wholly-owned subsidiary of Boomer Holdings Inc., a publicly traded company (OTCQB: BOMH). Boomer Naturals is a full-service wellness company that provides products and services that enhance your well-being and increase your quality of life. Boomer Naturals' products are available online at Boomerstore.com, BoomerNaturals.com, BoomerNaturalsWholesale.com, CVS.com. Boomer Naturals' products are also available at the Boomer Naturals retail store, CVS retail locations, and resorts and golf shops across the country. For more information, please visit www.boomernaturals.com.
Forward Looking Statements
Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future, except as required by securities laws. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation, economic, political, regulatory, capital markets and other external conditions and other factors beyond the Company's control, risks related to public health crises such as the global pandemic associated with the coronavirus (COVID-19), and those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement.
Contact: Mike Quaid: mike@boomernaturals.com
View original content:http://www.prnewswire.com/news-releases/boomer-provides-shareholder-update-and-q1-guidance-with-new-revenue-and-profit-forecasts-301264716.html
SOURCE Boomer Naturals, Inc
FAQ
What were Boomer Holdings' Q1 earnings for fiscal year 2021?
What is the revenue forecast for Boomer Holdings for the current fiscal year?
How much is Boomer Holdings forecasting for e-commerce revenue in 2022?
What is the significance of boomerstore.com for Boomer Holdings?
