Youngevity International, Inc. (NASDAQ: YGYI ), a leading omni-direct lifestyle company, today reported financial results for the third quarter and nine months ended September 30, 2018.
Steve Wallach, CEO and Co-Founder of Youngevity stated,
“The third quarter’s revenue was negatively impacted by supply chain challenges experienced predominantly in our international markets and a policy change implemented by our finance company within the coffee segment, however, despite these challenges, our year to date numbers continue to improve over last year in key financial metrics including Revenue, Operating Income and Adjusted EBITDA.
Youngevity President and CFO, Dave Briskie stated,
“We are not satisfied with our sliding revenue for the third quarter, however we are pleased to see our margins as a percentage of revenue showing significant progress this quarter. We have been eliminating promotions that drive top line revenue at the expense of profits and we are seeing a positive trend toward our stated goal of improving operating profits and Adjusted EBITDA in 2018.
We intend to focus the balance of this year on improving our balance sheet, driving international growth, and positioning the coffee segment to execute its significant green coffee contract that we anticipate will greatly impact the performance of the coffee segment in 2019.”
THIRD QUARTER