FitLife Brands, Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for Fiscal 2017 and 2018
November 15, 2017 at 12:30 pm
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FitLife Brands, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported revenue was $4,025,580 against $5,340,616 a year ago. Operating loss was $483,141 against $358,451 a year ago. Net loss was $511,384 against $360,718 a year ago. Diluted loss per share was $0.05 against $0.03 a year ago. The decline in revenue was primarily attributable to a challenging retail environment in concert with the continued inventory reduction initiatives of its single large customer.
For the nine months, the company reported revenue was $14,637,273 against $21,615,605 a year ago. Operating loss was $1,306,768 against operating income of $1,777,571 a year ago. Net loss was $1,395,833 against net income of $1,532,472 a year ago. Diluted loss per share was $0.13 against diluted of $0.13 a year ago. Net cash provided by operating activities was $247,818 against $357,665 a year ago. Purchase of property and equipment was $20,305 against $21,619 a year ago.
The company looks forward to the remainder of 2017 and an expected return to profitability and growth in 2018.
FitLife Brands, Inc. is a developer and marketer proprietary nutritional supplements and wellness products for health-conscious consumers. It markets approximately 300 different products primarily online, through domestic and international GNC franchise locations as well as through more than 17,000 additional domestic retail locations. It offers NDS Nutrition, PMD Sports, SirenLabs, Core Active, Nutrology, and Metis Nutrition (together, NDS Products); iSatori, BioGenetic Laboratories, and Energize (together, the iSatori Products); Dr. Tobias, All Natural Advice, and Maritime Naturals (together, the MRC Products) and MusclePharm. Its NDS brand includes premium weight loss, sports nutrition, and general health products. Its PMD brand includes premium sports nutrition products. Its Nutrology brand included sports nutrition and general wellness products with an emphasis on natural, vegan, and organic ingredients. Its SirenLabs brand includes weight loss and sports nutrition products.
FitLife Brands, Inc Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for Fiscal 2017 and 2018