Latteno Foods posted 2013 4th quarter earnings today, and the results showed exponential growth for both revenue and operating profit. Revenue for the 4th quarter totaled $4,097,877 and pre-tax operating profits soared to $409,909. To put this in perspective, revenue increased by over 3100% compared to the prior year when net income was only $7,000.
The explosive growth was attributable to Mekonza seafood branch which offers a variety of seafood products. More recently, Latteno Foods has entered the hot marijuana market in Colorado however the results of this initiative are yet to be seen. Regarding this initiative, CEO Thu Le commented, "Mekonza continues its exponential growth and we look forward to increased contribution from our recently announced MMJ initiatives planned for Colorado. Given the impressive financial results issued today, one can only expect this initiative to aid in the future growth of this company.
The issuance of the 4th quarter numbers caused the stock, symbol LATF, to increase 60% by mid-day of trading to $.013 per share. It appears overbought in the short term, but with this kind of growth it is always tough to tell how far it will run. The daily chart still looks bullish as the MACD is just about to make a bullish cross which may take it to new highs for the year. Definitely a speculative play, but a stock trading for just over a penny showing large operating profits could turn out to be a home fun for investors.