iSatori, Inc. Reports 2012 Operating Results
Highlights of Year Include Completion of Merger, Acquisition of Growth Capital, Upgrade of Internet Marketing Infrastructure, and Preparation for Mass Market Expansion
(firmenpresse) - DENVER, CO -- (Marketwired) -- 04/16/13 -- iSatori, Inc. (OTCQB: IFIT) ("the Company"), an emerging leader in the development and marketing of scientifically engineered nutritional supplements for healthier lifestyles, today announced its fourth quarter and twelve months 2012 financial results, which are summarized in the following table. A complete report of the Company's (GAAP) financial results will be available via its annual report for the same periods filed with the Securities and Exchange Commission today on Form 10-K. The link to this Form 10-K is
Gross sales for the quarter ended December 31, 2012, at $2,643,206, compared with fourth quarter 2011 gross sales of $2,734,467. The Company's after-tax loss for the 2012 fourth quarter of ($672,903) included non-cash derivative valuation costs of $605,661. A non-GAAP loss of ($67,242) in the fourth quarter of 2012 compared with a non-GAAP loss of ($193,885) in the fourth quarter of 2011. (Non-GAAP adjusted net income is described in greater detail at the end of this press release).
For the year ended December 31, 2012, the Company's gross revenues totaled $10,847,741 compared with $10,968,458 in 2011. A pre-tax loss of ($1,030,638) was recorded in 2012, compared with a 2011 pre-tax profit of $603,234. However, when non-recurring operating expenses related to the merger of $562,137 and non-cash derivative valuation costs of $858,322 are excluded, the Company's 2012 non-GAAP pre-tax profit totaled $389,821, compared with a 2011 non-GAAP profit of $603,234. The Company maintains a $28 million net operating loss carry forward acquired in connection with its April 2012 merger with IZZI and intends to utilize this asset on a going-forward basis.
Commenting on the Company's financial results, Stephen Adele, CEO of iSatori noted, "2012 was an exciting year for iSatori. After completing an important merger that allowed us to become a publicly traded company and provided significant growth capital, our balance sheet remains strong. While our 2012 financial results were negatively impacted by non-recurring and mostly non-cash expenses related to the merger with IZZI, we are very excited about the growth opportunities available to the Company in 2013 and beyond.
"Our optimism regarding the future revolves around a number of strategic initiatives that we began implementing during the second half of 2012. Specifically, we have successfully upgraded our Internet marketing infrastructure in a manner that has increased our customer response rate and is expected to lead to improved customer loyalty in our direct-to-consumer marketing programs. We have also accelerated our research and development activities in order to achieve our goal of introducing at least four new products annually. During the past nine months, we have launched three successful nutritional supplement products, and six viable new products are currently in the pipeline. And finally, we achieved a major breakthrough in our 'mass market' expansion initiative with our entry into Walgreens, which is now carrying our time-released Energize pill product in over 6,486 of its drug stores throughout the United States. Our objective is to establish relationships with two more leading national mass merchandisers during 2013, as we aggressively pursue the mass-market channel, which is responsible for more than 70 percent of all nutritional supplement sales in the U.S. We believe iSatori can replicate the success it has achieved in specialty retail and direct-to-consumer marketing within the mass market sales channel, thereby opening the door to much greater sales potential in the future.
"Shareholders should expect results from these activities to become more visible as we proceed through 2013 and to be fully evident in our 2014 operating results. Our goal to achieve annualized revenue of $25 to $50 million over the next several years is predicated on the Company's ability to gain additional mass market distribution and to grow specialty retail and Internet sales through the successful introduction of new products," concluded Adele.
iSatori, Inc. has provided supplemental financial information and other disclosures in and attached to this release that have not been totally presented in accordance with GAAP. This information includes non-GAAP after tax profit (loss). iSatori uses such non-GAAP financial measures in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating iSatori's ongoing core business operational performance. As noted, the non-GAAP financial measures discussed above include certain expenses/income, including, 1) non-recurring operating expenses related to the merger with IZZI, and 2) non-cash derivative valuation costs. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.
iSatori, Inc. is a consumer products firm that develops and sells nutritional products in the performance, weight loss, and energy markets through online marketing, Fortune 500 retailers, and thousands of retail stores around the world. More information about the Company is available at .
Statements made in this news release relating to the Company's future sales, expenses, revenue, product developments, and all other statements except statements of historical fact, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, management's assumptions and the Company's future performance are both subject to a wide range of business risks and uncertainties, and there is no assurance that these goals and projections can or will be met. Any number of factors could cause actual results to differ materially from those in the forward-looking statements, including, but not limited to, the timing and extent of changes in demand for the Company's products, the availability and price of ingredients necessary to manufacture such products, and the outcome of any current or future litigation regarding such products or similar products of competitors. All forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update any such statement.
iSatori, Inc.
Stephen Adele
303-215-9174
R.J. Falkner & Company, Inc.
Jerry Falkner
800-377-9893
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Datum: 16.04.2013 - 20:25 Uhr
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