RBC Life Sciences Reports 18 Percent Higher Revenues in the First Quarter of 2008
Monday May 5, 10:35 am ET
IRVING, Texas--(BUSINESS WIRE)--RBC Life Sciences, Inc. (OTCBB: RBCL - News) today announced that net sales for the first quarter ended March 31, 2008, increased 18 percent to $6.35 million, compared to net sales of $5.39 million for the quarter ended March 31, 2007. The Company’s net earnings for the first quarter of 2008 improved 9 percent to $355,000, or $0.02 per share, compared to net earnings of $325,000, or $0.02 per share, in the first quarter of 2007. Diluted shares outstanding for the 2008 quarter were 22,573,000, compared to 21,557,000 for the first quarter of 2007.
“We are pleased with RBC’s continued growth in the first quarter,” said Clinton Howard, Chairman and CEO. “Our Nutritional Products segment grew more than 14% compared to last year’s first quarter, due primarily to an increase in revenues from our international licensees. Our Medical Products group showed 32% growth quarter over quarter, due to an increase in the customer base for our wound care products and increased sales to our largest customer in this segment. We look forward to continued growth from each of our segments in 2008.”
RBC Life Sciences develops, manufactures and markets high quality nutritional supplements and personal care products to a growing population of consumers seeking wellness and a healthy lifestyle. Under its MPM Medical brand, RBC also develops and markets to health care professionals in the United States proprietary prescription and nonprescription products for advanced wound care and pain management. All products are tested for quality assurance in-house, and by outside independent laboratories, to comply with regulations in the U.S. and in more than thirty countries in which the products are distributed. For more information, visit the Company’s Web site at www.rbclifesciences.com.
The statements above, other than statements of historical fact, may be forward-looking. Actual events will be dependent upon a number of factors and risks including, but not limited to, changes in plans by the Company’s management, delays or problems in production, changes in the regulatory process, changes in market trends, and a number of other factors and risks described from time to time in the Company’s filings with the Securities and Exchange Commission.
RBC Life Sciences, Inc.
Summary Results of Operations
(in thousands, except per share data)
(unaudited)
Quarters Ended March 31,
2008 2007
Net sales $ 6,348 $ 5,392
Gross profit 3,503 3,304
Operating profit 612 592
Earnings before income taxes 567 533
Provision for income taxes 212 208
Net earnings 355 325
Earnings per share – basic and diluted $ 0.02 $ 0.02
Weighted average shares outstanding – basic 21,114 20,188
Weighted average shares outstanding – diluted 22,573 21,557
RBC Life Sciences, Inc.
Condensed Balance Sheets
(in thousands)
(unaudited)
March 31, December 31,
2008 2007
Assets
Cash and cash equivalents $ 5,730 $ 6,369
Inventories 4,946 4,725
Other current assets 1,092 1,334
Total current assets 11,768 12,428
Other assets 6,704 6,730
Total assets $ 18,472 $ 19,158
Liabilities and shareholders’ equity
Accounts payable and accrued liabilities $ 3,025 $ 4,431
Deferred revenue 4,687 4,323
Other current liabilities 136 136
Total current liabilities 7,848 8,890
Other liabilities 2,629 2,690
Shareholders’ equity 7,995 7,578
Total liabilities and shareholders’ equity $ 18,472 $ 19,158
Contact:
RBC Life Sciences
Steve Brown, CFO, 972-893-4000
steve.brown@rbclifesciences.com
or
Halliburton Investor Relations
Geralyn DeBusk, 972-458-8000
gdebusk@halliburtonir.com
or
Deidre Roy, 972-458-8000
droy@halliburtonir.com
or
Chase Zavoina, 972-458-8000
czavoina@halliburtonir.com
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Source: RBC Life Sciences, Inc.
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