November 21st 2014: On it's blog page the company reaffirmed consistent improvements and the return to profitability, here is the very good news:
Highlights of First 9 months of 2014 compared to first 9 months of 2013
- Revenue increased by $186,310 from $2,072,670 in 2013 to $2,258,980 in 2014 or 8.9%
- Gross profit increased from $568,502 in 2013, up 21.2% to $689,359 in 2014
- Operating expenses decreased dramatically from $1,356,342 in 2013 to $485,137 in 2014 – an improvement of $871,205 translating to a decrease of 64.2%
- Overall the period resulted in a net income of $178,714 in 2014 compared to a net loss of $876,909 – a $1,055,623 improvement
November 14th 2014: From it's 10-Q posted today, for the quarter ending September 30th 2014 Brownie's Marine Group (BWMG) posted $805,472 in total net revenues despite having had to relocate its headquarters and manufacturing facility during September 2014 which impacted sales. For the three months ended September 30, 2014, the company had a net income of $131,365 an increase in net income of $242,151, or 218.58% versus the same period for 2013.
-Brownie's Marine Group (BWMG) has a 10 year plus partnership with Japan's Subaru. With the newly opened Brownies Japanese dealership connections and networking look very positive.
-Online eCommerce exposure: West Marine is the largest specialty retailer of boating supplies and accessories, with over 300 stores located in 38 states, Puerto Rico and Canada. In the fall of last year they placed the Brownie's products on display via its online store. Such huge exposure leads to increased revenues part of what we are witnessing now as the Brownies posts profits...for the quarter ending June 30th 2014 up almost 46% over the same period last year!