Hot Business News Today

Hot Business News Today

Youngevity Reports Q3 Revenues Increased 77.3%

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Youngevity International, Inc., a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, reported financial results for the third quarter of 2014.
2014 Third Quarter Highlights:

Net revenue increased 77.3% to $37.6 million compared to $21.2 million in the same period last year.
Gross profit increased 62.8% to $21.0 million compared to $12.9 million in the same period last year.
Operating income was $1.2 million, an increase of 32.4% over the same period last year.
Net income decreased to $185,000 compared to $516,000 in the same period last year.
Adjusted EBITDA* increased 23.5% to $2.1 million compared to $1.7 million in the same period last year.

“We are pleased with our results this quarter and we remain focused on executing on the significant long-term growth opportunities that exist for our direct selling and coffee business segments,” stated Steve Wallach, Chairman and CEO of Youngevity International. Mr. Wallach continued, “In the third quarter, we invested in capital improvements to optimize our business operations and improve the foundation of our business to support our global growth. As we begin the final quarter of this fiscal year, we remain committed to growing aggressively through acquisitions

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ForeverGreen Welcomes New President Of North American Operations

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Jeff Graham has joined ForeverGreen Worldwide Corporation, a leading direct marketing company and provider of health-centered products, as its new President of North American Operations. Graham, an industry veteran, brings a rare abundance of industry knowledge and experience to the position.
Graham’s impressive history in the direct marketing industry began at Nu Skin Enterprises, where he played a key role in product development for nine years. After taking a break from the industry to focus on his own entrepreneurial efforts, Graham introduced acai to MonaVie in 2005, catapulting MonaVie into the spotlight as one of the fastest growing companies in the industry and the world.
During his eight-year tenure at MonaVie, Graham served as the Head of Product Development and later transitioned into the role of President of North America, where he oversaw operations for the company’s two largest markets. After a brief hiatus, Graham served as the President and CEO of Nucerity, a Houston-based direct marketing company, before joining the ForeverGreen team.
“I believe ForeverGreen is poised to rewrite direct marketing history,” Graham explained when asked why he chose to be a part of the ForeverGreen team, despite his numerous offers around the industry. He added, “I am excited to be here.

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Herbalife Director Is Being Charged In Brazilian Embezzlement Case

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A director of U.S. nutrition company Herbalife is among 12 people charged in a years-old Brazilian embezzlement case that has never been mentioned in Herbalife public disclosures, according to court documents and company filings.
Herbalife has become one of America’s most closely-watched companies after billionaire investors William Ackman and Carl Icahn squared off with enormous bets on its future, with Ackman betting on its demise and Icahn on its success.
Prosecutors in Brazil charged current Herbalife board member Pedro Cardoso with money laundering in 2008 for allegedly participating in an embezzlement scheme a decade earlier that siphoned 26.7 million Brazilian reais ($10.4 million) from the state government in Espirito Santo.
The 8th Criminal Court of Vitoria ordered bailiffs to serve him with a subpoena in 2010, but they did not locate him and the case remains open, according to court filings and a court source.
According to the U.S. Securities and Exchange Commission’s rules on disclosure, companies must report legal proceedings that are material to evaluating the integrity of a director. Herbalife has not made the information about Cardoso’s case public, according to proxy statements it has filed since 2009 when Cardoso joined the company’s board.

Cardoso said in a statement dated this week emailed to

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Top Industry Leader Freddy Melero Joins LIMU

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Freddy and Catherine Melero are two of the most passionate and high profile entrepreneurs in the industry.
As 17-year direct sales veterans, they’ve become prolific at turning big passion into big profit — having recently reached $2 million in earnings in their former opportunity.
They also have a true passion for people, having impacted tens of thousands of lives in markets all across the globe, or as Freddy puts it: “empowering and inspiring people to be more, do more, and have more.”
From his first introduction to network marketing, he’s been enamored with the whole industry and how you can leave people better off than you found them.
“We believe we have the best chance at success right here, right now at LIMU. High-quality products, aggressive international expansion plans, an unparalleled compensation plan and the incredible marketing buzz that’s already here, align perfectly with our energy, vision and goals.
This company has been a hidden gem for ten years — it’s the best kept secret in the industry! This is a rare moment — leaders from across the industry are taking notice and realizing what we have going on here at LIMU. That’s why I’m so excited to be joining forces with

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