CVSL Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
November 08, 2015
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CVSL Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported revenue of $36.954 million against $24.017 million a year ago. Operating loss was $4.401 million against $5.759 million a year ago. Loss from operations before income tax provision was $4.967 million against $6.364 million a year ago. Net loss attributable to the company was $3.895 million against $5.623 million a year ago. Loss per basic and diluted share attributable to common stockholders was $0.11 against $0.11 a year ago. Proforma loss per basic and diluted s hare attributable to common stockholder was $0.11 against $0.23 a year ago. Total revenue increased $13.0 million, or 54.0%, primarily due to the company's acquisition of Kleeneze in March of 2015, in addition to organic growth, especially in the gourmet food products segment. Operating loss decreased by $1.4 million This was primarily due to gain in cost efficiencies due to eliminating redundant overhead.
For the nine months. the company reported revenue of $91.915 million against $75.274 million a year ago. Operating loss was $11.130 million against $12.605 million a year ago. Loss from operations before income tax provision was $10.226 million against $14.241 million a year ago. Net loss attributable to the company was $7.647 million against $12.305 million a year ago. Loss per basic and diluted share attributable to common stockholders was $0.23 against $0.25 a year ago. Proforma loss per basic and diluted s hare attributable to common stockholders was $0.23 against $0.50 a year ago.
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.