In a recent interview with DreamTeamNetwork, Dr. Steven
Tsengas, chairman and chief executive officer of OurPet’s Company (OTCQX:
OPCO), gave some insight into OPCO’s strong start to 2016, as well as its
prospects for additional growth moving forward. The primary focus of the
interview is OPCO’s record financial results for the first quarter of 2016,
which included a double-digit increase in both net revenue and net income from
the comparable period of the previous year. When asked about the driving force
behind the company’s strong performance, Dr. Tsengas pointed toward OPCO’s
continued commitment to innovation in the pet industry.
“We introduced in 2015 quite a lot of new products,” Dr.
Tsengas stated in the interview. “Also, the tremendous investment we made in
the waste and odor control products finally started showing results, and we had
double-digit growth in the cat waste and odor control products… We have over
160 patents, issued or pending… [and] about 75 percent of our sales are derived
from proprietary products. This has given us a tremendous advantage in the
marketplace in terms of sales growth, as well as profitability.”
To listen to the full interview, visit http://dtn.fm/5z69S
In addition to a massive 64 percent increase in revenues
derived from its waste and odor products category, OPCO recorded strong
performance in its remaining product segments. The company achieved growth of
10 percent for its toys and accessories segment in the first quarter, as well
as nine percent growth for its bowls and feeders product category.
These results highlight OPCO’s rapidly expanding presence on
the domestic stage, but the company is also turning its attention toward
international growth. In the first quarter, international sales dipped by just
over seven percent due to the strength of the U.S. dollar, but Dr. Tsengas
presented a promising outlook for OPCO’s international growth in the coming
months.
“It’s kind of interesting. I think one of the big positive
surprises in 2016 is going to be international sales,” he stated. “In spite of
the appreciation of the American dollar, we’ve been putting a lot of emphasis
in… South Korea, China and Japan, and the fruits are about to bare in those
particular markets. We’ve gained very strong following for our products… Both
the OurPet’s and the PetZone brands are becoming quite well-known in the Far
East.”
Following the launch of its newest innovation, the
Intelligent Pet Care™ product line, at this year’s Global Pet Expo, OPCO
reaffirmed its position at the forefront of the global pet industry. Leveraging
Bluetooth and Wi-Fi connectivity, the company’s newest product line aims to
enhance the connection between humans and pets in a variety of ways while
giving pet parent’s the tools necessary to monitor various activities that can
be interpreted as indicators of pet health. Reception following the Intelligent
Pet Care™ unveiling confirmed the market potential of these cutting-edge products.
“At the Global Pet Expo… we launched the Intelligent Pet
Care™ and [garnered] so much interest that we ended up having a special showing
and invited magazines, newspapers and all kinds of media,” added Dr. Tsengas.
With a strong start already in the books, OPCO will look to
build on its first quarter results while promoting sustainable financial growth
for the balance of 2016 and beyond. Dr. Tsengas echoed this optimistic tone to
close out the interview.
“The major goal is… to grow at double-digit rates at three-
to four-times industry growth, this has been our goal since our founding,” he
stated. “Of course, profitability should grow at a faster rate because of
economies of scale and absorption… We’re optimistic about 2016. I think we
should have a pretty good year.”
For more information, visit the company’s website at
www.ourpets.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net