Bemax Inc. (OTC:BMXC) Stock In Focus After Releasing Revenue Estimates
There are several interesting companies that could be on the radars of investors in the coming days, and one of those is Bemax Inc. (OTC:BMXC). The company is involved in the private label development space and is specifically focused on women’s hygienic sanitary products and disposable diapers. On Wednesday, the company was in the news cycle after it announced that it projected revenues of $1.73 million for the full fiscal year of 2024. Additionally, Bemax also revealed that the estimated fully diluted net earnings were $0.0013 per share.
The projected revenue figure was much higher than the revenues of only $8100 Bemax recorded the previous year. The estimate for the gross profit for 2024 had been pegged at $1.1 million, and that was primarily due to the expansion of the company’s distribution network, the launch of new private label brands, and a fresh supplier agreement with The Kroger Co.
The company also noted in its news release that it continued to work on setting up new distribution networks with major supermarket chain operators and grocery stores in North America. Taiwo Aimasiko, the Chief Executive Officer of the company, noted that he was pleased with the growth in the distribution network and the overall growth of Bemax.
On January 8, Bemax announced that it had entered into a supplier agreement with The Kroger Co. It was a significant new deal for the company. Kroger Co. is a retail company in the United States that operates in excess of 2700 supermarkets and department stores across the nation. Following the agreement, Bemax would get purchase orders directly from Kroger.
It was further noted that Kroger would only be obligated to purchase the specific volume of products for which a corresponding purchase order had been issued to Bemax. It may be a good time to keep the Bemax stock on the watch lists.
