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On May 4, 2022, the board of directors of the Company declared a cash dividend for the first quarter of 2022 of $0.15 per common share, or approximately $6.1 million in the aggregate. Costs related to COVID-19 which do not reflect the ongoing costs of operation. This press release makes reference to certain financial measures, including non-IFRS financial measures that are historical, non-IFRS measures that are forward-looking, non-GAAP ratios and supplementary financial measures. Revenue increased 7.9% to $129.8 million in the fourth quarter of 2021 compared with $120.4 million in the fourth quarter of 2020 driven by 11.2% growth in Jamieson Brands, partially offset by a 1.9% decline in Strategic Partners. First quarter of 2021 includes the acceleration of $0.9 million of share-based compensation expense from future years in relation to the Companys previous CEOs retirement. Normalized gross profit margin in the Jamieson Brands segment increased by 50 basis points from 44.8% to 45.3% due to volume driven efficiencies and cost recoveries, partially offset by ongoing operating costs associated with the Companys new third-party logistics model, elevated costs reflecting ongoing global supply chain challenges, sustained safety measures and increased business continuity costs. Certain metrics, including those expressed on an adjusted basis, are non-IFRS measures. Interested parties may listen to a simultaneous webcast of the conference call by logging on via the Investor Relations section of the Company's website at https://investors.jamiesonwellness.com or directly at https://viavid.webcasts.com/starthere.jsp?ei=1542384&tp_key=ff0ec5572d. Normalized gross profit margin in the Jamieson Brands segment increased by 120 basis points to 42.8% due to operating efficiencies and volume growth driving leverage on our manufacturing assets, partially offset by temporary elevated costs reflecting ongoing global supply chain challenges and sustained pandemic related safety measures. Jamieson Wellness Inc. JWEL (Canada: Toronto) search. Adjusted net earnings, which excludes all non-operating expenses and foreign exchange, increased by $2.1 million, or 24.4%, to $10.7 million in the first quarter of 2022. This information is also used by management to measure the profitability of ongoing operations and in analyzing the Companys business performance and trends. Jamieson Brands segment revenue growth of 24.0% to 30.0%, driven by the following: Jamieson Canada revenue growth of 3.0% to 6.0%, reflecting continued consumer demand, marketing plans, innovation, and the impact of prior year pricing; Youtheory revenue of between $145.0 and $155.0 million (approximately 11.5% to 19.0% on a pro-forma basis) driven by product innovation, expanded e-commerce initiatives and distribution gains; Jamieson China revenue to increase by 65.0% to 75.0%, reflecting a transition to an owned distribution model and the related step-up in distributor level pricing realized on revenues beginning the second quarter of 2023 along with continued consumer demand in e-commerce and distribution gains in the domestic retail channels (approximately 25.0% to 30.0% growth on a pro-forma basis); Jamieson International revenue growth of 5.0% to 20.0% driven by marketing, innovation, and distribution into new markets as well as expansion across key regions. Currency in CAD Annual Quarterly Jamieson Wellness Inc Earnings and Revenue History Income Statement > Jamieson Wellness Inc Debt to Assets Balance Sheet > The Company will host a conference call for investors at 5:00 p.m. Eastern Time to discuss the second quarter 2023 results. The call can be accessed live over the telephone by dialing 1-888-886-7786 from Canada and the U.S. or 1-416-764-8658 from international locations. As Chair of the Board of Directors since the Companys IPO, I am proud of our accomplishments and thankful for the opportunity to contribute to the Companys powerful vision of improving the worlds health and wellness. Jamieson Brands margins will be approximately 100 basis points lower impacted by the full year inclusion of youtheory and the transition to an owned distribution model in China; Normalized SG&A including marketing expenses are expected to increase 35.0% to 40.0% based on the acquisition of youtheory and an accelerated investment in marketing, resources and infrastructure to support long-term growth opportunities in the United States and in China; Based on the resource and marketing investments being made to drive long term growth, adjusted EBITDA margins are expected to decline by 175 basis points in 2023. Strategic Partners segment revenue growth up to 5.0%. New Partnership with DCP Capital to Support Strategic Growth Plan in China. Ask about video and phone sessions. Jamieson Wellness Inc. Dupont Ratios Analysis - Financial Modeling Prep Nearby Areas. DirectorJamieson Wellness Inc. Unaudited Consolidated Interim Statements of Operations and Comprehensive Income In thousands of Canadian dollars, except share and per share amounts Notes Three months ended March 31,20232022 Gross profit margin(3) decreased by 120 basis points to 36.9% in the fourth quarter of 2022, driven by 80 basis points from youtheory gross profit margins which are inherently lower than the base business and 40 basis points due to a higher proportion of Strategic Partner sales. Net earnings for the first quarter of 2022 was $9.7 million compared with $6.1 million in the first quarter of 2021. Assets Jamieson Wellness Inc. Announces Date of Second Quarter 2023 Financial See the Non-IFRS and Other Financial Measures section of this press release for more information on each non-IFRS financial measure. For more information please visit www.jamiesonwellness.com. The dividend will be paid on March 15, 2022 to all common shareholders of record at the close of business on March 4, 2022. For additional details on the Companys fiscal 2022 outlook, including guidance for the first quarter of 2022, refer to the Outlook section in the managements discussion and analysis of financial condition and results of operations (2021 MD&A) for the three and twelve months ended December 31, 2021. Revenue increased 23.6% to $138.9 million in the third quarter of 2022 compared with $112.4 million in the third quarter of 2021 driven by 31.8% growth in the Jamieson . Net earnings for the fourth quarter of 2021 was $20.2 million compared with $15.4 million in the fourth quarter of 2020. In November, we announced the pending acquisition of our Chinese distributors assets. Cash from operating activities before working capital considerations(1) of $29.1 million was $4.5 million higher due to increased earnings in the current quarter. The Company has designated this dividend as an eligible dividend for the purposes of the Income Tax Act (Canada). The Companys international USD denominated revenue(3) increased by 14.1%, or 12.6% on a reported basis compared with the fourth quarter of 2020 led by continued growth in China, partially offset by strong replenishments earlier in the year to other regions. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law or regulatory authority. Consolidated Financial Statements and Management's Discussion and Analysis. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Maintains Fiscal 2021 Guidance and Declares First Quarter Dividend Jamieson Wellness Inc. ("Jamieson Wellness" or the "Company") (TSX: JWEL) today reported financial results for its first quarter ended March 31, 2021. Prior year expenses included the acceleration of share-based compensation expense in relation to our CEO transition. Adjusted EBITDA increased by 13.0% to $20.9 million in the first quarter of 2022 and adjusted EBITDA margin(2) was 20.2% compared with 18.9% in the first quarter of 2021. Revenue in the Jamieson Brands segment increased by 9.6% or $7.3 million to $83.2 million. See Non-IFRS and Other Financial Measures below. Q4 '21. See the Non-IFRS and Other Financial Measures section of this press release for more information on each non-IFRS financial measure. We closed out the year with another quarter of growth, including an 11% increase in branded revenue and a 15% increase in Adjusted EBITDA. Consolidated Statements of Financial Position (2) Expenses in the first quarter of 2022 relate to system implementation costs as the Company build out its advanced supply chain planning infrastructure. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the Companys financial information reported under IFRS. Press Release RSS Feed (opens in new window), PDF format download (opens in new window), Jamieson Wellness Inc. The Company is introducing its outlook for fiscal 2022 and anticipates revenue in a range of $474.0 to $491.0 million, which represents annual growth of 5.0% to 9.0%. Jamieson Wellness Inc. Announces Date of Second Quarter 2023 Financial FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. Ruth Winker Investor and Media Contact Information: Selected Consolidated Financial Information Normalized SG&A expense increases of 5.0% to 8.0% from increased investments in international markets and our long-term growth opportunities in China. PDF Unaudited Condensed Consolidated Interim Financial Statements For the Management uses these financial measures for purposes of comparison to prior periods and development of future projections and earnings growth prospects. Expenses in the fourth quarter of 2021 relate to system implementation costs while full year 2021 expenses mostly relate to start-up costs to complete the Companys transition to a third-party logistics model to make room for capacity expansion at its Twin Oaks and Scarborough distribution facilities.