iSatori, Inc. Reports Second Quarter Operating Results
Company Achieves Positive After-Tax Net Income and Growth in Net Revenues on New Channel Expansion and Product Launches
(firmenpresse) - GOLDEN, CO -- (Marketwired) -- 08/14/13 -- iSatori, Inc. (OTCQB: IFIT), an emerging leader in the development and marketing of scientifically engineered nutritional supplements for healthier lifestyles, today announced its operating results for the second quarter and first half of 2013, which are summarized in the following table. A complete report of the Company's (GAAP) financial results for the three and six months ending June 30, 2013 will be available via its quarterly report filed with the Securities and Exchange Commission today on Form 10-Q.
The Company's consolidated net revenue increased 2.4% to $2.28 million for the three months ending June 30, 2013, compared with $2.23 million for the same period in 2012. The increase in net sales was attributable to continued expansion into mass-market retail, along with the introduction of iSatori's new category-defining product, Bio-Gro™. The Company has begun to aggressively market and promote its brand as it expands distribution into mass-market retail.
In the most recent quarter, after taking the effect of a favorable $194 thousand income tax benefit, the Company reported positive net income of $133 thousand for the three months ending June 30, 2013, compared to a net loss of $252 thousand for the same period in 2012. Prior to taking the effect of the income tax benefit, the Company reported a loss before income taxes of $61 thousand for the three months ending June 30, 2013, compared to a loss of $394 thousand for the same period in 2012. The Company's profitability has been impacted by recently induced aggressive marketing and promotion of its brand, investing over $1.2 million year-to-date in mass media marketing activities, which will remain commensurate with expanded distribution into mass-market retail.
"We remain optimistic about the growth prospects available to the Company during the remainder of 2013 and throughout 2014," stated Stephen Adele, Chief Executive Officer of iSatori, Inc. "Our optimism revolves around the strategic initiatives we began implementing during the first half of 2013, including expansion into mass-market retail outlets and further research and development efforts to fuel future product launches."
Recent Company developments include:
During the second quarter of 2013, iSatori launched its new, category-defining product Bio-Gro™ Protein Synthesis Amplifier, powered by Bio-Pro Bio-Active Peptides™, which is now protected by USPTO patent file number 61/832,610.
iSatori achieved a significant breakthrough in the "mass market" with its entry into Walmart, the nation's largest retailer, which is now carrying the Company's time-released Energize™ tablet product nationwide in the "energy section" of its nutritional supplements department. Additionally, Walgreens, the nation's largest drugstore retailer is prominently displaying the Energize product in over 6,000 of its drugstores throughout the United States.
To augment its national mass-market distribution of Energize, iSatori began airing a national TV and Internet ad campaign on a number of prominent websites and stations, including TLC, Comedy Central, MTV, DIY, The Travel Channel, and ESPN News, among others.
The Company also noted that its $1.17 million operating line of credit with CoBiz Bank of Colorado expired on July 12, 2013. CoBiz Bank has extended the Company's line of credit for 90 days under the same terms and conditions.
The Company engaged as its auditors the accounting firm EKS&H, the largest accounting firm based in Colorado, which has extensive experience in the nutritional supplements sector.
The Company launched its newest website, Biogeneticlabs.com, in June, to sell the Biogenetic Laboratories line of leading weight-loss supplements directly to consumers. The product line is also sold by specially retailers, such as GNC and Vitamin Shoppe, and online retailers, including Drugstore.com and Groupon.
In June, the Company hired industry veteran and the former VP of Sales/General Manager at nutritional supplements company EAS (now owned and operated by Abbott Laboratories), Rick Anderson, as its Executive Vice President of Sales. Mr. Anderson has over 20 years of proven sales and marketing experience with nutritional supplements and consumer packaged goods companies.
Mr. Adele went on to say, "We continue to stay the course regarding our strategic initiatives to accelerate research and development activities, protect our intellectual properties, and introduce multiple new innovative products annually. Also, although delayed in our planned entry by six months, in June 2013 we achieved a significant breakthrough in our 'mass-market' initiative with our entry into Walmart, the nation's largest retailer, and Duane Reade, one of America's most respected drugstore chains. By driving awareness of our brand and purchases of our products through continued marketing programs and sales promotions, our objective is to aggressively pursue the mass-market channel, which is responsible for more than 70 percent of the annual $30 billion market for nutritional supplements in the U.S."
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
Michael Wilemon
CFO
303-215-9174
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Datum: 15.08.2013 - 02:18 Uhr
Sprache: Deutsch
News-ID 287976
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