Cosmos Holdings, Inc. (the “Company”) has announced its financial results for the fourth quarter and full year ended December 31, 2019, marking a positive milestone for the company .
In the fourth quarter of 2019, Cosmos recorded revenues of $6.1 million. This is showing growth compared to $5.7 million in the same quarter of 2018. The Company’s net income for the fourth quarter of 2019 was $0.4 million, or $0.01 per diluted share, compared to a net loss of $0.2 million. Or, $0.01 per diluted share, in the fourth quarter of 2018.
For the full year of 2019, Cosmos achieved revenues of $21.4 million, up from $20.5 million in the full year of 2018. Notably, the Company’s net income for the full year 2019 was $0.6 million. Or, $0.02 per diluted share, in contrast to a net loss of $1.2 million, or $0.05 per diluted share, in the full year of 2018.
The positive financial results are attributed to the Company’s successful growth strategy and diligent efforts to optimize its operations. Michael Matthews, President, and CEO of Cosmos expressed satisfaction with the Company’s performance. Also, highlighting the fourth consecutive quarter of profitability and positive cash flow from operations. The nearly $1.5 million of operating cash flow generated in 2019 has significantly strengthened the Company’s balance sheet .
Cosmos is enthusiastic about its prospects for 2020. It focuses on executing its growth strategy and further enhancing shareholder value. The Company is well-positioned to capitalize on the emerging opportunities in the market and is committed to delivering robust results .
As Cosmos moves into the new year, its consistent profitability and strengthened financial position underscore the Company’s dedication to sustainable growth. With a solid foundation, Cosmos aims to continue its upward trajectory, fostering innovation and delivering value to its shareholders .
In conclusion, Cosmos Holdings, Inc. has demonstrated remarkable financial results for the fourth quarter and full year of 2019. The positive revenue growth and profitability reflect the Company’s successful execution of its growth strategy and strong operational performance. As Cosmos looks ahead to 2020, it remains committed to building upon its achievements and delivering value to its stakeholders.