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| NGTF Updates on Ice Cream and Record Revenues |
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 Hot Stock to Watch |
Company: Nightfood Holdings Inc. (Pink Sheets: NGTF)
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Last:
Price: 0.2945
Change (%): - 0.0205 (6.51)
Volume: 133,559 |
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Nightfood Achieves Record Revenues, Ice Cream Launch Commencing
Tarrytown, NY, Oct. 01, 2018 (GLOBE NEWSWIRE) - via NEWMEDIAWIRE - Nightfood, Inc. (OTC: NGTF), the company pioneering the projected multi-billion dollar nighttime snacking category, surpassed $100,000 in revenues for the first time in the Company’s young history.
With unaudited quarterly revenues of $110,069 for the quarter ended September 30, 2018, Nightfood has achieved Company records in both total quarterly revenues, and quarterly direct-to-consumer revenues.
“Obviously this is a milestone for us as we continue to grow, but the days of direct-to-consumer sales dominating our revenue are coming to a quick end with the Nightfood ice cream launch,” commented CEO Sean Folkson. “We have meetings with major retailers starting this week, several of whose initial Nightfood ice cream purchase orders could dwarf the quarterly revenue we just recorded. I personally expect us to get orders from each of them.”
Management research indicates that consumers want better options for night cravings but are reluctant to switch snack formats. Nutrition bars are not a popular snack format among the 200 million plus nighttime snackers, and especially among mainstream consumers.
However, ice cream is number two on the night-snacking list, and consumption is growing. A Harris Poll reported that “Nearly half (48 percent) of millennials say ‘in bed watching TV’ is where they choose to enjoy ice cream...”
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