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Friday, 11/15/2013 8:22:20 AM

Friday, November 15, 2013 8:22:20 AM

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FTLF - 2.15 (Old BNLB) What are they going to do with that pile of cash ($3.4M) that is growing every Q?


FitLife Brands Reports Third Quarter Earnings


Growth Trend Continues

OMAHA, Neb.--(BUSINESS WIRE)-- FitLife Brands, Inc. ("FitLife") (OTCBB: FTLF), an international provider of innovative and proprietary nutritional supplements for health conscious consumers marketed under the brand names NDS Nutrition Products(TM) ("NDS") ( www.ndsnutrition.com), PMD(R) ( www.pmdsports.com), SirenLabs(R) ( www.sirenlabs.com) and CoreActive(R) ( www.coreactivenutrition.com) today announced financial results for the third fiscal quarter and nine months ended September 30, 2013.

Highlights for the third quarter and nine months included:

-- 3Q13 revenue increased 6.6% to $4.9 million -- 3Q13 revenue increased 18.0%, excluding prior year's non-recurring revenue -- International revenue for the nine month period increased to $1.0 million, representing 6.0% of total revenue -- Net cash balance as of September 30, 2013 increased to $3.4 million versus $0.9 million at the same time last year Revenue for the three months ended September 30, 2013 was $4.9 million as compared to $4.6 million for the comparable period in 2012, an increase of 6.6%. Revenue for the nine months ended September 30, 2013 was $16.0 million as compared to $14.7 million for the comparable period in 2012, an increase of 8.7%. Revenue for the three and nine month periods ended September 30, 2012 included $0.4 million and $2.1 million of revenue, respectively, related to the previously disclosed formula change that management believes is non-recurring in nature. Excluding such non-recurring sources, revenue for the three and nine month periods ended September 30, 2013 increased 18.0% and 26.6%, respectively, as compared to the comparable periods in 2012.

The Company continues to make ongoing investment to enhance sales and marketing, which management believes will drive future domestic and international growth. Revenue from international sources represented 6.0% of total revenue for the nine month period ended September 30, 2013, as compared to just 1.6% for the comparable period in 2012.

Net income for the three and nine month periods ended September 30, 2013 was $0.5 million and $1.5 million, respectively, as compared to $0.5 million and $2.0 million, respectively, for the comparable periods in 2012. In addition to approximately $0.3 million of incremental non-cash issuance costs incurred year-to-date during 2013 and the impact of the non-recurring revenue, net income comparisons for the three and nine months periods ended September 30, 2013 reflect ongoing investment by the Company to enhance its sales and marketing efforts.

During the nine month period ended September 30, 2013, FitLife generated $2.6 million of cash flow from operations as compared to just $0.8 million for the comparable nine month period ended September 30, 2012. The Company ended the quarter with a net cash balance (after disbursements to be made in connection with the completed recapitalization) of more than $3.4 million, versus a $0.9 million cash balance as of the September 30, 2012.

"2013 is proving to be a year of important milestones for FitLife," stated John S. Wilson, Chief Executive Officer of FitLife. "We saw another quarter of continued strong financial performance, a significant increase in our cash position, and continued top-line growth. The investment in international expansion, while still early, is beginning to show momentum. We have many exciting opportunities still ahead of us, as we continue to expand distribution both domestically and internationally. The successful launch of SirenLabs(R) earlier this year was a strong validation of our brand-centric growth strategy and I look forward to continuing to execute our strategic growth plan to drive diversity and scale."

About FitLife Brands
FitLife Brands is a manufacturer of innovative and proprietary nutritional supplements for health conscious consumers. FitLife markets over 50 different dietary supplements to promote sports nutrition, improved performance, weight loss and general health primarily through domestic and international GNC(R) franchise locations. Concurrent with the September 2013 recapitalization, the company changed its name from Bond Labs, Inc. to FitLife Brands, Inc. FitLife is headquartered in Omaha, Nebraska. For more information please visit our new website at www.fitlifebrands.com

Forward-Looking Statement
Statements in this release that are forward looking involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this news release. Such factors may include, but are not limited to: the ability to of the Company to continue to grow revenue; and the Company's ability to continue to achieve positive cash flow given the Company's existing and anticipated operating and other costs. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in The Company's filings with the Securities and Exchange Commission including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.
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