Youngevity International, Inc. (NASDAQ:YGYI), a leading omni-direct lifestyle company, today reported financial results for the first quarter ended March 31, 2018.
2018 First Quarter Highlights:
Revenues increased 11.0% over the prior year to $43.0 million
Gross Profit increased 14.4% to $25.0 million compared to the prior year
Adjusted EBITDA increased to $1.5 million compared to negative $1.2 million in the prior year
The Coffee Segment posted 39.9% revenue growth over prior year
Steve Wallach, Chairman and CEO of Youngevity stated, “We are pleased to see revenue growth for both segments in the first quarter. Our international markets are beginning to contribute more significantly to overall revenue lead by top line growth coming from Asia. We believe this overall growth is sustainable in the coming quarters.”
Dave Briskie, President and CFO of Youngevity said, “We have been focused on the fundamentals as we entered 2018. We feel we made significant progress by improving adjusted EBITDA and strengthening our balance sheet as well. The recent financing and debt conversion contributed significantly to the improvement in our Stockholders’ Equity and will help reduce borrowing costs in the coming quarters.”
FIRST QUARTER 2018 FINANCIAL RESULTS
Revenues increased 11.0% to $42,994,000 in the current period as compared to $38,733,000 for the same period last year. We