Subjects: EARNINGS, FOOD/COOKING
Nocera, Inc. Announces Second Quarter 2022 Financial Results
TAIPEI CITY, Taiwan, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Nocera, Inc. (NASDAQ: NCRA) ("Nocera" or the "Company"), a fully integrated sustainable seafood company with a focus on manufacturing and operating land-based Recirculatory Aquaculture Systems (RAS), announced second quarter results ended June 30, 2022.
Second Quarter 2022 Highlights and Recent Developments
- Generated $2.2 million in net sales in the second quarter, a year-over-year increase of 72% as compared to $1.3 million in the second quarter of 2021
- Year to date revenue for six months ended June 30, 2022, is $5.1 million, a year-over-year increase of 82% as compared to $2.8 million for six months ended June 30, 2021
- Cash and cash equivalents for six months ended June 30, 2022, is $1.6 million, a year-over-year increase of 147% as compared to $647,000 for six months ended June 30, 2021
- Completed the RAS design for US expansion for Catfish and Tilapia and now focused on the final land purchase
- Successfully Up listed from OTC Markets to NASDAQ on August 11, 2022
- Closing of its underwritten public offering of 1,880,000 units for aggregate gross proceeds of $6.58 million on August 15, 2022
Management Commentary
Jeff Cheng, CEO of Nocera, Inc. said, "In the second half of 2022, we are operating from a very strong position. We continue to receive requests and recommendations from our investors to bring aquaculture back to the United States and give the American family the best choice of seafood. Our focus is finalizing the land purchase to start the construction of a land-based fish farm in the United States. We are committed to raise green and sustainable fish for the market and look forward to continued execution of our fish farm construction in the months ahead as we are committed to our shareholders that we will continue to invest and expand in a green and sustainable way in the United States and globally. "
About Nocera, Inc.
Nocera (NASDAQ: NCRA) is a fully integrated sustainable seafood company that provides land-based recirculation aquaculture systems (RAS) for both fresh and saltwater fish and invests in fish farms by building high-tech RASs. The Company's main business operation consists of the design, development, and production of large-scale RAS fish tank systems, (aquaculture) for fish farms along with expert consulting, technology transfer, and aquaculture project management services to new and existing aquaculture facilities and operators. For more information, please visit the company's website at www.nocera.company.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate, believe, estimate, expect, forecast, intend, may, plan, project, predict, should, will" and similar expressions as they relate to Nocera are intended to identify such forward-looking statements. 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 methods of marketing, delays in manufacturing or distribution, changes in customer order patterns, changes in customer offering mix, and various other factors beyond the company's control. Actual events or results may differ materially from those described in this press release due to any of these factors. Nocera is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Contacts:
TraDigital IR
Christine Petraglia
Hanover International
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