Jrjr33, Inc. Announces the Earnings Results for the Nine Months Ended September 30, 2017
April 05, 2018 at 11:18 am
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JRjr33, Inc. announced the earnings results for the nine months ended September 30, 2017. For the period, the company reported net income, including the benefit of discontinued operations, was $500,000 compared to net loss of $19,500,000 for the same period last year. The company's gross profit was $32,000,000 or 44% of revenue as compared to $60,000,000 or 56% of revenue for the same period last year primarily as a result of shifts in product mix. EBITDA of approximately $6,500,000 compared to a prior year adjusted EBITDA of $13,000,000. Gross sales decreased by 31% to approximately $73,000,000 from $106,000,000 for the same period last year as the company eliminated unprofitable deeply discounted revenue and focused on generating positive EBITDA. The focus on EBITDA generated a net positive improvement of adjusted EBITDA over the same period in the prior year of approximately $19,500,000.
JRjr33, Inc. (JRJR), formerly CVSL Inc., offers a platform of direct-to-consumer brands. The Company operates through the segments, which include Gourmet Food, Nutritional and Wellness, Home Decor, Publishing and Printing, and Other. The Gourmet Food Products segment consists of operations related to the production and sale of hand-crafted spices, oils and other food products from around the world. The Home Decor segment consists of operations related to the production and sale of premium hand-crafted baskets, and the selling of products for the home, including pottery, cleaning, health, beauty, home, outdoor and customizable vinyl expressions for display. The Nutritionals and Wellness segment consists of operations related to the selling of nutritional supplements and skin care products. The Publishing and Printing Segment consists of the operations of Happenings Communications Group, Inc. and Paperly, Inc. The Other Segment consists of the operations of Tomboy Tools, Inc.