Before the opening bell, OurPet’s Company (OTCQX: OPCO) announced that it has been awarded a 2016 Industry Recognition Award by the trade publication Pet Business for its innovative OurPets® Switchgrass Natural Cat Litter™ (http://nnw.fm/lAH9N). Originally unveiled at this year’s SuperZoo pet industry convention in Las Vegas, the company’s Switchgrass Natural Cat Litter with Biochar is a biodegradable, all natural, sustainable and non-food-based alternative to current offerings on the cat waste disposal market. Switchgrass, which is a core component of the cat litter, is a plant that is native to North America and does not require the use of fertilization or chemicals during growth. Additionally, when combined with natural, wood-based biochar, switchgrass has been shown to offer superior clumping strength alongside strong moisture and odor absorbency.
The benefits offered by OPCO’s natural waste management solution has caught the attention of those in the pet industry since its launch back in August, and the company’s recognition in Pet Business continues to build on this trend. The publication’s Industry Recognition Awards have been awarded annually for well over a decade to place a spotlight on “the most exciting and functional products on the market.” For OPCO, gaining coverage from Pet Business should help the company continue to increase brand awareness and build on its recent financial growth in the rapidly expanding pet industry, which the American Pet Products Association expects to surpass the $62 billion mark by the end of this year.
In October, OPCO gave prospective investors some insight into its recent growth through the release of its third quarter financial results. Among the highlights, the company recorded quarterly revenue of $7.26 million, marking a 21 percent increase over the similar period of 2015. Driven by initial shipments of both its Switchgrass Natural Cat Litter and its groundbreaking Intelligent Pet Care product line (http://nnw.fm/Ta9Ab), OPCO’s sales through the first nine months of 2016 were up nearly 10 percent year-over-year, growth that more than doubled the pet industry average.
“With the resumption of shipments to our major specialty pet retail customer, we were firing on all cylinders this past quarter,” Dr. Steven Tsengas, president and chief executive officer of OPCO, stated in the October news release. “Beyond 2016, our strategy is to achieve double-digit growth in sales and net income with an emphasis on developing and launching proprietary, innovative products and entering appropriate new market segments… We have many ‘irons in the fire’ and are very excited about the future.”
For more information, visit the company’s website at www.OurPets.com
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