CVSL Inc. (“CVSL” or the “Company”), a growing portfolio of direct-to-consumer companies, today reported financial results for the first quarter of 2015 ended March 31, 2015.
This press release presents revenue on a reported and pro forma basis. Management believes that, because CVSL is in the early stage of executing its strategy of scaling up the business through acquisitions, the pro forma figure allows for better comparisons with historical results.
For the first quarter of 2015, reported revenue includes virtually no results from Kleeneze, a UK-based direct-to-consumer company, which CVSL acquired at the end of the quarter, on March 25, 2015. Pro forma revenue is calculated assuming that CVSL had acquired Kleeneze on January 1, 2015.
First Quarter 2015 Financial Highlights
Pro forma revenue grew 20.0%
Reported revenue declined 27.9%
Gross margin improved to 60.6% from 51.3%
Reported