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16 December 2016
Vaporin Announces Sequential Revenue Growth of 100% for the 2014 Third Quarter Ending
November 17th, 2014 
 
Gross Profit Margins Improve to 49.3% for the 2014 Third Quarter as Compared to 43.2% for the 2014 Second Quarter
 
MIAMI, FL--(Marketwired - Nov 12, 2014) - Vaporin, Inc. ( OTCQBVAPO), is a distributor and marketer of vaporizers, tanks, mods (VTM's) and e-liquids products, today announced its financial results for the third quarter and nine month period ending September 30, 2014.
 
Greg Brauser, Chief Operating Officer of Vaporin, commented, "During the 2014 third quarter we continued to experience revenue growth and margin expansion. Continued revenue growth was largely driven by internet sales, c-store distribution, and our newly acquired brick and mortar vape stores. In only a month of operating our four vape stores during the quarter, we experienced an increase in revenue and margin expansion through this direct-to-consumer sale and brand awareness. Additionally, during the quarter we were successful in launching our line of cannabis vaporizers online." 
 
Financial Highlights for the 2014 Three and Nine Month Periods:
 
  • Revenue for the first nine months of 2014 totaled $1.4 million;
  • Revenue for the third quarter of 2014 increased 100% to $837,000 as compared to $419,000 for the second quarter of 2014;
  • Growth sequentially was driven predominantly by an increase in website sales and approximately one month of sales from "The Vape Store" acquisition;
  • Gross profit margins improved to 49.3% for the third quarter of 2014 as compared to 42.3% for the second quarter of 2014;
  • Gross profit margin improvement was driven by direct to consumer sales via online marketing and "The Vape Store."
 
 Vaporin. Retrieved from: http://www.marketwired.com