iFabric Corp Reports Revenues and Earnings for Its Financial Year Ended September 30, 2022

MARKHAM, ON / ACCESSWIRE / December 29, 2022 / iFabric Corp. (“iFabric” or the “Company”) (TSX:IFA)(OTCQX:IFABF), today announced its results for its fourth quarter and fiscal year ended September 30, 2022 (“2022”).

“I am pleased to report that iFabric matched the record revenue achieved in fiscal 2021 without the benefit of the non-recurring revenue the Company booked during fiscal 2021. If not for the ongoing disruptions impacting global supply chains that resulted in supplier shipping delays during the year that were outside of our control, fiscal 2022 would have been another record sales year for iFabric,” stated Hylton Karon, President and CEO of iFabric. “With a solid fiscal 2022 now behind us, we have entered into our new fiscal year 2023 with the largest starting order book for both our intelligent fabrics and intimate apparel divisions in the Company’s history. To prepare for this revenue growth and additional new business growth in calendar 2023 and beyond, we made a significant investment in marketing expenses during 2022 for the launch of our new Company owned-brand as well as to build a strong team and infrastructure to support and sustain growth in all areas of our business.

We likewise anticipate the resources and investment we’ve made in our pathogen-inactivation clinical trials have the potential to generate valuable real-world evidence and performance validation of our ProTX2 and RepelTX technologies, thus providing us with an important tool to further…