Divine Skin Posts Q3 Revenue of $2.1 Million, Up 35% from 2010
Nov. 15, 2011 -- Biotechnology leader Divine Skin Inc., (OTC Bulletin Board: DSKX) which develops personal care products, posted revenue of $2.1 million for the third quarter, up 35 percent from 2010. The rapidly expanding company reported nine-month revenue of $6.6 million , up 74 percent from last year.
"We are on track for another record-breaking year," said Divine Skin CEO Daniel Khesin . "These days, there are so many opportunities to commercialize new scientific discoveries, and we are taking full advantage. We couldn't be in a better position right now."
The positive results came after a busy quarter of big announcements.
In July: Divine Skin expanded into the lucrative market for supplements by partnering with NutraOrigin, developer of 63 blends of nutritional formulas; and the company launched a global partnership with India 's huge Ranbaxy Laboratories to sell its DS Laboratories line of hair-growth treatments worldwide.
In August: Divine Skin debuted a new molecule, Nanoxidil, designed to stimulate follicles at the vertex of the scalp, eventually to surpass minoxidil for efficacy and tolerability; and it entered into new distribution agreements for South Korea , Canada , Australia , Taiwan , South Africa , Belgium , and Finland .
In September: Divine Skin launched the market's first topical treatment to incorporate astressin-B, a complex peptide newly discovered to regrow hair on bald mice. The company also became the first to synthesize the peptide for human use in a cosmetic product, marketed as Spectral.F7 under the DS Laboratories brand.
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, and others. In clinical trials for the US government, its Omega line proved to enhance mental function (www.nutraorigin.com).
