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.”
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Immunotec Announces End Of Year Financial Results: Revenue Increased Over 47%
by Tina Williams • • 0 Comments
Immunotec Inc. (IMM), a direct-to-consumer company and a leader in the nutritional industry (the “Company” or “Immunotec”), today announced its year-end consolidated financial results for Fiscal 2014. All amounts in this press release are denominated in Canadian dollars unless otherwise indicated.
“We are pleased to report record full-year revenues and Adjusted EBITDA(1) in Fiscal 2014 fuelled by solid growth in our activities outside of Canada and operational leverage,” said Mr. Charles L. Orr, Chief Executive Officer. “We are currently addressing some challenges related to our recent implementation of value-added taxes (VAT) in Mexico.
More importantly, a growing number of consultants and customers throughout the world are experiencing the tangible benefits of Immunotec’s products and the business opportunities provide by our business model,” concluded Mr. Orr.
PERFORMANCE HIGHLIGHTS
Fiscal 2014 consolidated revenues increased 47.5% over the same period last year to $80.8M. This increase was recorded consistently throughout the year in both Mexico and the rest of North America, totalling 92.9% and 12.9%, respectively.
Sponsoring, defined as the number of new Consultants and Customers, increased 85.2% over the same period last year to nearly 64,000 in Mexico while the rest of North America, increased 26.7% to nearly 20,000.
About Immunotec Inc.
Immunotec is a Canadian-based Company that