PLANO, Texas, Sept. 19, 2018 (GLOBE NEWSWIRE) -- via NetworkWire – Sharing Services, Inc. (OTCQB: SHRV) (“the Company”) today announces revenues of $12.9 million for the fiscal first quarter ended July 31, 2018, an increase over fourth-quarter revenues of $8.3 million.
This quarterly performance sets a record for the Company, as it has now reported sales revenues of over $20 million since the December 2017 launch of products through its Elepreneur and Elevacity Global subsidiaries.
"Since hitting the market in 2017, product sales for our incredible health and wellness division, Elevacity Global, have dramatically increased and continue to grow,” stated John “JT” Thatch, CEO of Sharing Services. “Our first-quarter results represent yet another company milestone. We continue to exceed our goals at a record-breaking pace as we execute our mission to change the direct-selling industry with best-in-class products and services under our unique ‘Blue Ocean Strategy.’”
Sharing Services continues to gain traction in the direct-selling industry, taking interest and/or ownership in companies that offer services ranging from health and wellness to energy, technology, insurance services, training, media and travel benefits.
Since its inception late last year, the Company has taken several steps to support its pursuit of expansion, establishing a new corporate headquarters to accommodate growth and bringing on experienced talent to help drive momentum on a grand scale.
Additional information is contained in the Company’s 10-Q and 10-K filings with the Securities and Exchange Commission.
About Sharing Services, Inc.
Sharing Services, Inc. (SHRV) is a diversified holding company specializing in the direct selling industry. SHRV owns, operates, or controls an interest in a variety of companies that either sell products to the consumer directly through independent representatives or offers services that range from health and wellness, energy, technology, insurance services, training, media and travel benefits. Its divisions include Elevacity and Elepreneur, LLC. For more information, visit www.SharingServicesInc.com, www.Elevacity.com or www.Elepreneur.com
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 31E of the Securities Exchange Act of 1934, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, including the Company's operating margin and rolling average annual growth in tangible book value per share, constitute forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. All forward-looking statements included in this document are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statement. Prospective investors should also consult the risks described from time to time in the Company's Reports on Forms 10-K, 10-Q and 8-K and Annual Reports to Shareholders.
Contact:
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