Vital Living Announces Third Quarter Results
PR Newswire - November 03, 2005 09:09
Revenue Increases 47% Company Substantially Improves Adjusted EBITDA
PHOENIX, Nov 03, 2005 /PRNewswire-FirstCall via COMTEX/ -- Vital Living, Inc. (OTC Bulletin Board: VTLV) announced today that revenue in the third quarter ended September 30, 2005 rose 47% to $1,560,000 from $1,061,000 in the comparable quarter last year. The company's net loss in the third quarter this year narrowed 99.5% to $11,000, or $0.00 per basic and diluted share, versus a net loss in the third quarter of 2004 of $2,119,000, or $0.03 per basic and diluted share.
Gross profit from continuing operations climbed approximately 70% to $853,000 from $503,000. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA), which excludes the effects of the re-pricing of the variable stock-based awards, totaled $718,000 in the third quarter compared with a loss of $120,000 in the comparable quarter a year ago.
Stuart A. Benson, Chief Executive Officer of the company, said, "Our substantially improved financial results are due to our corporate turnaround, which was formally initiated approximately one year ago. Our Adjusted EBITDA climbed for the third consecutive quarter as we reduced operating expenses by nearly 60% and expanded the distribution of our proprietary, professional grade nutritional supplements and nutraceutical products to licensed dispensing healthcare practitioners.
"The company's ability to execute successfully its business plan by focusing on its core competencies led to a dramatic improvement in the bottom line, as we approached breakeven in the third quarter. Going forward, we expect to build on our new, solid operating platform and continue to report positive comparative results for the current fourth quarter."
For the nine months ended September 30, 2005, revenue increased 59% to $4,330,000 from $2,716,000 in the comparable period last year. Net loss in the 2005 nine-month period was $1,161,000 versus $21,674,000, which included an intangible asset impairment charge of $11,272,000, in the comparable period last year. Net loss per share was $0.01 compared with a loss of $0.30 in the year-earlier period.
Gross profit rose 63% to $2,271,000 in the first nine months of 2005 from $1,395,000 in the corresponding period a year ago. Adjusted EBITDA was $1,000,000 versus a loss of $5,769,000 in the comparable period last year.
Gregg A. Linn, Chief Operating Officer and Chief Financial Officer of the company, said, "Our strong revenue growth in the first nine months of 2005 resulted primarily from increased sales of our core product, GreensFirst(TM), combined with the positive momentum achieved in our extended Doctors For Nutrition(TM) brand, which includes our Dream Protein(TM) and RedAlert(TM) products introduced earlier this year. Our sales and marketing focus has generated a positive response in key target markets, and we are beginning to realize the full financial impact of our cost containment program. As we continue to expand our regional distributor base, our customers are also benefiting from the introduction of our proprietary program, VITAL ASSURE(TM). Under the direction of Dr. Yadu Moharir, this new program was recently introduced to more efficiently ensure the quality and effectiveness of our all-natural products as we continue to grow our business."
تعليقك يا صاحب السهم ،،،،
(ما شاء الله الشعر موزون )
ولكن حبن في السهم لعله يستحي على نفسه 
