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04.04.2018 16:06:37

Sports Field Announces Increased Earnings and Profit for 2017

ST. CHARLES, Ill., April 04, 2018 (GLOBE NEWSWIRE) -- Sports Field Holdings, Inc. (the "Company" or "Sports Field") (OTCQB:SFHI), through its wholly owned subsidiary FIRSTFORM®, Inc. ("FirstForm"), announced its financial results for the quarter and year ended December 31, 2017.The Company is very pleased to announce significant improvement in its operations.  Improvements were realized in revenue, profitability and operational efficiency as well as a reduction in SG&A and warranty expense. Financial Highlights for the year ended December 31, 2017Revenue more than doubled from $3.2M in 2016 to $7.0M in 2017Gross margin improved to 15.5% in 2017 as compared to 9.7% in 201615.5% reduction in SG&A versus prior year$9.7 million in contracted sales in place for 2018 with 8 months remainingOperational Highlights from 2017Officially launched New TerraSport™ Infill SystemAcquired a decade of industry sales expertise with hiring of Jacques Roman, our new National Director of SalesAdded our new Accel™ line of running tracks creating new revenue opportunitiesSuccessful implementation of new CRM to create greater efficiency in quotingThese several factors contributed to the remarkable accomplishments in 2017. The appointment of a new national sales director with extensive experience, and vast contacts in the athletic community, has already significantly increased the sales pipeline ...Full story available on Benzinga.com
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