CVSL, the parent company of Longaberger, reported a 45 percent increase in revenue for the second quarter of the year.
The direct-selling company reported revenue of $35.7 million, up from $24.6 million in the second quarter last year.
The operating loss was $2.5 million, compared with a loss of $4.1 million in last year’s second quarter.
“We are very pleased with our second quarter results,” said John Rochon Jr., vice chairman of CVSL. “The quarter clearly demonstrated the effectiveness of our strategy of buying companies at favorable prices and then applying our expertise to strengthen them and increase cash flow.
“We believe these results show that our strategy is working. While we continue to focus on improving the profitability of the companies we own, we intend to be opportunistic about potential acquisitions.”
About The Longaberger Company