MusclePharm Releases 2012 Financial Results
Annual Gross Sales Increase 267% to $78 Million
(firmenpresse) - DENVER, CO -- (Marketwire) -- 04/01/13 -- (OTCQB: MSLP) ("MusclePharm"), a nutritional supplement company focused on active lifestyles, announced today the financial results for the year ended December 31, 2012.
For the year ended December 31, 2012 ("FY 2012"), MusclePharm reported gross sales prior to accounting for advertising related credits that were granted to customers of $77.8 million, an increase of 267% as compared to $21.2 million for the year ended December 31, 2011 ("FY 2011"). After accounting for advertising related credits that were granted to customers, MusclePharm reported net sales of $67.1 million in FY 2012, an increase of 290% as compared to $17.2 million in FY 2011. Gross margin in FY 2012 was 21.4% as compared to 13.8 % in FY 2011. The net loss attributable to common stock holders for FY 2012 was $18.9 million as compared to a net loss of $23.3 million for FY 2011.
Commenting on the announcement, MusclePharm Founder & CEO, Brad Pyatt, stated, "As in previous years, our strategy in 2012 was focused on growing sales and increasing awareness for the award-winning MusclePharm brand. While our 2013 strategic focus remains strongly biased on growing sales and increasing brand awareness, we anticipate being able to do so on a profitable basis. We are also encouraged with the recent strengthening of our balance sheet having completed two separate equity financings over the past sixty days totaling $18 million in gross proceeds."
MusclePharm is a healthy lifestyle company that develops and manufactures nutritional supplements which address active lifestyles, including muscle building, weight loss and maintaining general fitness through a daily nutritional supplement regimen. The products are formulated through a six-stage research process using the expertise of leading nutritional scientists. MusclePharm's products are sold to consumers in more than 90 countries and available in over 10,500 U.S. retail outlets, including Dick's Sporting Goods, GNC, Vitamin Shoppe and Vitamin World. MusclePharm products also are sold through more than 100 online channels globally, including bodybuilding.com, amazon.com and vitacost.com. MusclePharm also owns FitMiss™ (), a branded line of fitness supplements which is designed, dosed and formulated specifically for women with active lifestyles. For more information, please visit .
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's Annual Report on Form 10-K/A for the fiscal year ended December 31, 2011, the Company's Quarter Reports on Form 10-Q and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC's website at . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
The Company has determined that advertising related credits that were granted to customers fell within the guidance of ASC No. 605-50-55 ("Revenue Recognition" - Customer Payments and Incentives - Implementation Guidance and Illustrations). The guidance indicates that, absent evidence of benefit to the vendor, appropriate treatment requires netting these types of payments against revenues and not expensing as advertising expense.
The Company records store support, giveaways, sales allowances and discounts as a direct reduction of sales.
John H. Bluher
COO
Telephone: 303-618-0902
The Del Mar Consulting Group, Inc.
Robert B. Prag
President
Telephone: 858-794-9500
Alex Partners, LLC
Scott Wilfong
President
Telephone: 425-242-0891
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Datum: 01.04.2013 - 21:36 Uhr
Sprache: Deutsch
News-ID 244752
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DENVER, CO
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