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$HCMC Regarding one of the TOP FIVE publicly traded, (NON-OTC) vaping companies, note: Turning Point Brands, $TPB OWNS ("is") NewGen Products, its smokeless, vaping division:Malthusian_Thanos, published August 9, 2021
NewGen Products Segment (34% of total net sales in the quarter)
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For the 4th quarter, NewGen Products segment net sales increased 30.3% to $36.0 million driven by double-digit growth in both the vape distribution and Nu-X businesses. The prev year period was negatively impacted by a market-driven disruption in our vape business.
For the quarter, NewGen Products gross profit increased $27.6 million to $11.8. Segment gross margin was 32.7%. The previous year period was impacted by $23.2 million of related write-offs and reserves primarily associated with the vape business disruption.
For the full year, NewGen Products segment net sales increased 2.0% to $156.4 million as positive contribution from the vape distribution business and double-digit growth in Nu-X was partly offset by a decline in RipTide.
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