In a news release, life sciences company Avivagen Inc. (VIV:TSX.V; VIVXF:OTCQB), which develops and commercializes natural antibiotic-free feed products for livestock, companion animal and human applications, announced unaudited financial results for its third quarter 2020 ended July 31, 2020.
Avivagen indicated that in Q3/20 it posted total revenue of $612,530, an increase of $600,046 over the $12,484 it recorded in Q3/19, and a $582,905 increase over the $29,625 it achieved in Q2/20.
The firm advised that the increased revenues in Q3/20 were mainly the result of two major record-setting sales orders from Mexico-based Industrias Melder and Philippines-based UNAHCO. The company noted that it also secured additional sales in other markets including Taiwan and Thailand and that the regulatory approval and distribution agreements that it secured during the quarter in Brazil have already generated the firm's first order there in the world's third largest livestock feed market.
Avivagen CEO Kym Anthony remarked, "We are very pleased to report the strongest revenue quarter in the corporation's history, headlined by record-setting sales in some of the world's most important feed production markets...We have made strong inroads worldwide, and continue to secure regulatory approvals and distribution agreements that provide us with access to some of the largest feed producers around the globe. As both our global customer base and recurring order volumes continue to grow we expect to see greater quarter-to-quarter consistency in sales volume in future periods, but our third quarter results are further evidence of our ability to quickly overcome any sales timing lumpiness to deliver consistent revenue growth and shareholder value on an ongoing basis."
The firm advised that its OxC-beta™ technology is derived from its β-carotene and other carotenoid discoveries. The company noted that these compounds which support immune function are what give many fruits and vegetables their bright colors. The company stated that its OxC-beta™ Livestock product is approved for use in Australia, Brazil, Malaysia, Mexico, New Zealand, the Philippines, Taiwan, Thailand and the U.S.
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