Divine Skin Posts Record Q2 Revenue of $2.33 Million, up 79 Percent From 2010
MIAMI BEACH, Fla., Aug. 23, 2011 -- Biotechnology leader Divine Skin Inc. (DSKX) posted its highest quarterly revenue, $2.33 million, in the second quarter. The expanding innovator of personal care solutions credits recent investments in production for clearing backorders and accelerating sales, which are 79 percent ahead of the same period in 2010.
"One of our challenges has been keeping up with demand," said Divine Skin CEO Daniel Khesin. "We have invested significant resources into setting up a more robust operations platform. Now we have the right people in the right jobs managing the right plans for procurement, manufacturing, and accounting infrastructure. We will therefore continue to scale up to much more impressive numbers."
The results come after a busy four months of announcements:
- Naming of cosmetics veteran Robin Powell, respected for his success at Sebastian and TIGI, as president.
- Explosive growth in salon distribution, including new channels totaling thousands of additional doors both domestically and abroad.
- Plans for an oral analgesic to compete with Tylenol, Advil, and aspirin.
- Expansion into advanced nutritional supplements with NutraOrigin.
- Agreement for India's largest pharmaceutical company to sell DS Laboratories treatments.
Divine Skin maintains a core focus on biotechnology development while building its consumer goods business. It's ongoing clinical studies for topical therapies have helped identify new molecules and many proprietary technologies in the treatment of common skin conditions such as alopecia. Recently the company has announced the launch of Nanoxidil, a new material to designed to surpass the efficacy of minoxidil. This kind of innovations within personal care is expected to maintain Divine Skin's position as a category leader in niche categories and drive strong revenue growth.
"At the heart of this business is the relentless drive for innovation of personal care products," commented Khesin. "Every day we are only getting better at what we do and creativity is reaching new horizons. Customers and shareholders should prepare for very exciting things to come," he added.
About Divine Skin
Divine Skin Inc. leads in the development of biotechnology for topical, nutritional, and pharmaceutical therapies. It markets worldwide through online and specialty retailers, cosmetics wholesalers, salons, and medical offices. The fast-growing company went public in 2009.
DS Laboratories, its flagship brand, offers high-performance topical solutions to restore growth and radiance to hair, suppress dandruff and unwanted hair, control acne, improve hygiene, and reduce cellulite and wrinkles. Bioavailability is enhanced through encapsulation (www.dslaboratories.com).
The Sigma Skin brand sells through upscale retailers like Neiman Marcus in the United States and Harvey Nichols in the United Kingdom. The topical products address hair loss and other signs of aging (www.sigmaskin.com).
Polaris Research Laboratories makes high-potency minoxidil-based hair-growth formulas (www.polarisresearchlabs.com).
The Pure Guild offers purity with performance: Botanical compounds proven effective in clinical trials are extracted without industrial solvents or damaging heat and are sold through premium retailers (www.thepureguild.com).
NutraOrigin blends nutritional supplements that address the health concerns expressed by consumers, including fatigue, headache, obesity, mobility, menopause, erectile dysfunction, and others. In clinical trials for the US government, its Omega line proved to enhance mental function (www.nutraorigin.com).
