Growlife Inc (OTCMKTS:PHOT) just made its latest announcement where it disclosed the financial results for 2017.Those were results for the fourth quarter and for the whole year and the other notable aspect was that it went further to give an overview of its most recent operational highlights.
An official working with the company while speaking to a number of news reporters said that Growlife Inc with the passage of time continued to showcase outstanding growth. That was evident on its Q2 2017 where it witnessed a revenue increase of about 99%.In its Q3 and Q4 it witnessed 231% and 131% respectively and that was a year ago in the same quarter. The other financial reports indicated increased margins and decreased operating losses.
Marco Hegyi, who happens to be the CEO of the company outlined that 2017 came out as a vital year in terms of the GrowLife, Inc’s growth. Several market observers commended the company over the strong top line performance adding that the solid fiscal strategy had worked wonders for a company that has been quite persistence on its quest to achieving tremendous success.
The company accomplished much in the previous year starting from the acquisition of new assets to the implementation of major expansions. The company was able to capture new markets and that eventually resulted in it witnessing tremendous growth.
The company saw it fit to strike partnerships, draw in top tier talent and above all attract new customers in both its consumer and commercial businesses.
Hegyi delved deeper into the matter to state that they were looking forward to succeed in their efforts of providing value to the various shareholders with having to tamper with the high-quality service they had guaranteed them through the fiscal management.
It is worth noting that the company was able to set up new divisions which it expected would move along way helping meet up to the needs of the expanding indoor plant cultivation market, including the micro-grown foods and cannabis. The company has been taking rather seriously the issue about the development of additional revenue streams and product innovation.