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MORE CVSL SUPER NEWS:

CVSL Inc. Releases Quarterly Results

DALLAS, Aug. 14, 2014 /PRNewswire/ -- CVSL Inc. (OTC QX: CVSL) today released its results for the quarter ended June 30, 2014.

"During the Second Quarter, we made steady progress in the strategy that we began with our first acquisition 15 months earlier, which is to strengthen the companies we acquire while laying the groundwork for future acquisitions," said CVSL Chairman John Rochon.

During the Second Quarter, CVSL filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission related to the proposed public offering of its common stock and applied to have its common stock listed on the NYSE MKT.

"We are building a large, diverse company from the ground up," said Mr. Rochon. "We want to bring future CVSL acquisitions onto a solid base. Shoring up that base is where we put most of our emphasis during the Second Quarter.

"We took important steps to reduce our overall risk. One of our top priorities was to eliminate CVSL's bank debt. I am delighted to say that we accomplished that crucial goal," said Mr. Rochon, noting that CVSL had about $8.5 million in bank debt at the beginning of 2014 and that the Company paid off its last remaining bank debt two weeks ago.

For the Second Quarter, CVSL reported a 19.5% increase in gross revenue compared to the Second Quarter of 2013. CVSL had gross revenue of $24.6 million and an operating loss of $4.1 million in the current quarter, compared to gross revenue of $20.6 million and an operating loss of $3.3 million in the Second Quarter of 2013. Gross revenue for the first six months of 2014 was $51.3 million, which is more than double that of the first half of last year.

Mr. Rochon said that, in addition to paying off bank debt, CVSL reduced inventory, monetized assets that weren't needed for the business, and continued to invest in systems and personnel to prepare for continued growth through acquisitions.

"Eliminating bank debt makes us a healthier company, better equipped to operate our businesses and make more acquisitions," said Mr. Rochon. "It gives us more freedom and flexibility to continue our growth," he added.

"The operating companies we acquired since March, 2013 needed improvements in varying degrees. We have used this time to make necessary repairs. Now we can better focus on the next acquisition opportunities," he said.

"We also have invested in new accounting and sales force systems. While some of these costs are capitalized, other costs are expensed in the period incurred. These expenditures affect short-term profitability, but we believe the benefits of these steps will last for many years," he noted.

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