Revenue Soars Over 600% Year-Over-Year as Company Continues Expansion and Cost Reduction Efforts
Dallas, Georgia--(Newsfile Corp. - July 8, 2024) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable diapers and women's hygienic sanitary products, is pleased to announce its financial results for the fiscal year 2024, showcasing a remarkable increase in revenue and a substantial reduction in operational expenses.
Bemax achieved a revenue of $117,405, a staggering increase of over 600% compared to $8,100 in the prior year. This exponential growth was driven by an expanded sales network and direct shipments from the factory to customers, significantly reducing shipment costs. The company reported total operating expenses of $141,919, a dramatic decrease of over 70% from $434,320 in the previous year, primarily due to decreased warehousing and overall operating costs.
Consequently, Bemax's total net loss decreased by over 200%, from $301,153 to $90,637, attributed to increased revenue and effective management of expenses. Additionally, in the fiscal year 2024, Bemax entered into discussions with two OEM manufacturers. Once finalized, these partnerships are expected to further reduce production costs, enhance product quality, and drive higher revenue in the current fiscal year.
Taiwo Aimasiko, CEO of Bemax Inc. stated, "We are thrilled with our financial performance this year. The significant revenue growth and substantial reduction in expenses demonstrate our commitment to expanding our market presence while managing costs efficiently. Our ongoing discussions with OEM manufacturers highlight our strategic approach to improving product quality and profitability. We are optimistic about the continued growth potential as we advance our initiatives."
Consumers and retailers interested in pre-ordering the new brands can visit www.bemaxinc/webstore or www.walmart.com for more information and to place their orders starting on August 25, 2024.
About Bemax Inc.
Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base.
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. The Company may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company's Annual Reports on Form 10-K and its other filings with the Securities and Exchange Commission. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company does not undertake any obligation to update publicly or to revise any statements in this release, whether as a result of new information, future events, or otherwise.
CONTACT INFORMATION
Bemax Inc.
Dallas, GA
Email: admin@bemaxinc.com
Tel: (470) 582 0807 ext. 101
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