Nightfood Announces Highest Revenue Quarter in Company History, National Roll-Out On Track as Ice Cream Secures Distribution in Fifteen States During Q1
Tarrytown, NY, April 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (OTCQB: NGTF), the innovative company solving America’s $50 billion-dollar nighttime snacking problem, has announced today that Nightfood unaudited quarterly revenues surpassed $150,000 for the first time in Company history.
The majority of revenue for the quarter, which ended March 31, 2019, resulted from wholesale sales of Nightfood® Ice Cream. The brand quickly established distribution in 15 states within three months of manufacture of the first pint.
“We won our 2019 Product of the Year Award in the ice cream category on the strength of consumers viewing Nightfood as both unique and exciting,” explained Sean Folkson, Nightfood CEO. “Those attributes, along with a great-tasting and better-for-you product, have allowed us to expand distribution so rapidly. We expect plenty more great distribution news in coming days and weeks as we continue our national roll-out.”
Since launch, Nightfood ice cream has received national media coverage from outlets such as Fox Business, Yahoo Finance, USA Today, The Washington Post, The Food Network, Today.com, MarketWatch, Parents Magazine, and more.
“I’ve never been involved in a new product launch that was so powerfully on-trend and well received,” commented Jim Christensen, Nightfood’s VP of Ice Cream Sales. Christensen previously held the same title at global ice cream giant Unilever. During his 20+ years at Unilever, Christensen oversaw sales and distribution initiatives for such brands as Ben & Jerry’s, Klondike, Breyers and Good Humor. “The amount of media Nightfood has gotten in recent weeks confirms to me that we’re 100% dialed in to the consumer lifestyle and consumption habits.”
Management expects revenues to grow rapidly throughout the rest of the year as they work toward their stated goal of having distribution secured in 10,000 retail doors by March 31, 2020. Should the Company achieve this distribution objective, revenues by mid-2020 could be expected to approach or exceed $10,000,000 per quarter.
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood’s sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, delivers benefits found in no other product on the market.
Market research giant Mintel identified nighttime specific food and beverages as one of their most “compelling and category changing” trends for the coming years
Nightfood ice cream is rolling out nationally, and has recently announced distribution in the popular Meijer supermarket chain throughout the Midwest, with concentration in the metropolitan areas of Chicago, Detroit, Indianapolis, Columbus, and Milwaukee.
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfoodicecream.com – each entrant gets a coupon for a free pint of ice cream (some purchase required).
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Media Contact: Tim Sullivan media@Nightfood.com 732-816-0239 Investor Contact: Stuart Smith investors@Nightfood.com 888-888-6444, x3
Released April 1, 2019