Celsius Holdings Reports Fourth Quarter and 2011 Year End Results and Additions to Senior Management Team
(firmenpresse) - BOCA RATON, FL -- (Marketwire) -- 02/27/12 -- Celsius Holdings, Inc. (PINKSHEETS: CELH), the creator and marketer of , , today reported their results of operations for the fourth quarter and year ended December 31, 2011.
Revenue for the three months ended December 31, 2011 totaled $1.8 million versus $103,000 in the same period last year. A significant portion of this increase related to a reduction of discounts, promotions, and returns this year compared to last year's fourth quarter.
Revenue increased 3% for the year 2011 to $8.5 million as compared to $8.3 million in 2010. The increase was mainly due to increased sales to existing customers, offset by reduction in revenues associated with eliminating unprofitable accounts.
Operating expenses decreased to $1.4 million for the fourth quarter (or 65%) from$3.9 million in the prior year. For the year ended December 31, 2011, operating expenses decreased to $5.0 million (or 75%) from $19.9 million a year ago. In addition, sales, marketing, and G&A expenses were reduced significantly during 2011, while organic revenue growth continued.
The Company recorded a net loss of $716,000 for the fourth quarter compared to a net loss of $5.6 million in the same quarter a year ago (a decrease of 87%); or $(0.04) and $(0.30) per share respectively. For the year ended December 31, 2011, the Company recorded a net loss of $1.9 million compared to a net loss of $19.5 million a year ago (a decrease of 90%); or $(0.10) and $(1.11) per share respectively.
The Company announced today a strategy to expand the Celsius brand through Direct to Consumer initiatives and to restructure and support its retail sales efforts. The campaigns will include DRTV, Affiliate Networks, Banner Advertising, Social and Digital Media, Direct Mail, Viral Marketing and Health Club Sampling. The Company has produced a new package with 30 servings of an Outrageous Orange flavored powder, incorporating its MetaPlus ™ technology. This new powder package will allow for improved margins and cost effective shipping in support of the Direct to Consumer programs. "We believe that by employing these cost effective initiatives, the Celsius brand will achieve a greater market awareness, driving pull through in the retail stores while producing direct sales revenue to the company," said Gerry David, our CEO.
The Company also announced the addition of several senior managers to its executive team:
, Director of Operations, to lead supply chain requirements including manufacturing oversight, quality control, fulfillment and regulatory compliance.
, Vice President, International, to expand our current international market share where Celsius has gained a distribution foothold. Efforts have begun on the assessment and registration process in several international markets.
Chief Financial Officer, to oversee financial reporting, infrastructure initiatives including new management reporting software systems, fulfillment operations, call center operations, and enhanced website capabilities. Mr. Fieldly replaces Mr. Geary Cotton, the interim CFO for the company over the past two years.
Additional information on the new management team can we found at the Company's website,
"We saw significant progress in several areas of our business in the fourth quarter," stated Mr. David. David continued, "The implementation of several key initiatives to solidify our infrastructure, improve our retail presence, explore international opportunities, execute the Direct to Consumer marketing plans, and the recruitment of critical management has positioned Celsius for an exciting 2012."
Celsius Holdings, Inc. (PINKSHEETS: CELH) markets Celsius®, Your Ultimate Fitness Partner, which is backed by science. Celsius is dedicated to providing healthier, everyday refreshment through science and innovation. Information about Celsius Holdings, Inc. and , is available at .
This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings' future results of operations and/or financial position, or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," "would," or similar words. You should not rely on forward-looking statements since Celsius Holdings' actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; and other risks and uncertainties discussed in this press release and other information which we make publicly available. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.
Contact information:
John Fieldly
CFO
(866) 4-CELSIUS
(561) 276-2239
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Datum: 27.02.2012 - 12:00 Uhr
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