CVSL Inc. [NYSE MKT: CVSL] today released results for the year ended December 31, 2014, its second year of operation as a federation of direct-to-consumer companies.
Revenue for 2014 increased by 28.2%, or $23.9 million, from $84.9 million the previous year to $108.8 million. CVSL’s gross profit increased by 47%, from $35.6 million to $52.4 million.
CVSL’s total stockholders’ equity was $8.9 million on December 31, 2014. On a pro forma basis, including the recently-closed offering of common stock on March 4, 2015, total stockholders’ equity would exceed $26 million. Total long-term debt has been reduced by 80%, down to $5.3 million. CVSL’s bank line of credit was approximately $9 million a year ago and is now fully paid off.
Reported operating loss for 2014 was $20.1 million. “While our company significantly increased its revenue and gross profit during the year, our bottom line results were affected by a range of expenses connected