/UCW/ SAN DIEGO, CA – Eco Building Products, Inc., (OTC PINK: ECOB) announced today that its subsidiary, Wood Protection Technologies (WPT), reported higher sales in June and three consecutive month over month increases. The Company reported positive EBITDA for the month of May — just two months after signing its first national distribution agreement. Revenues from the agreement combined with sales to existing Affiliates to far exceed the Company’s forecast.
“Orders picked up much faster than we expected and fortunately we were able to ramp up our supply chain and shipments accordingly. While we still have some work to do in getting our longer term operations in order, we were able to demonstrate right out of the starting blocks that this is a very scalable business model,” said Tom Comery, WPT’s President and CEO.
We’ve been reporting that orders and shipments are well ahead of forecast and in fact, to post positive EBITDA just six months after forming the new Company was very gratifying. And the robust cost and pricing models we’ve put in place held our margins to expectation.”
The Company also reported that it expects revenues to taper off in July and August while its distribution network absorbs the inventory but then return with widespread replenishment orders. “Revenues will be a bit saw toothed with an upward overall trend over the next four quarters as we ramp up the new Company’s customer base.”
About Eco Building Products, Inc.
Eco Building Products, Inc. (Eco) is a manufacturer of proprietary, environmentally conscientious chemistry utilizing patent pending ECOB WoodSurfaceFilm™ and FRC™ technology (Fire Retardant Coating). Eco’s products protect against fire, mold/mycotoxins, fungal-decay, wood ingesting insects and termites. Eco is headquartered in San Diego, CA and goes to market through licensed Affiliates nationwide.
Safe Harbor Statement: This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward looking statements involve known and unknown risks and uncertainties, which may cause the Company’s actual results in future periods to be materially different from any future performance that may be suggested in this release. ECOB takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties.
Source: Eco Building Products, Inc.