PRNewswire
IRVING, Texas
(NASDAQ-OTCBB:RBCL)
IRVING, Texas, May 8 /PRNewswire-FirstCall/ -- -- RBC Life Sciences, Inc.,
a provider of proprietary nutritional supplements, wound care and pain
management products, reported today that its North American nutritional
supplements and medical products sales grew, year over year, during the
first quarter of 2009.
U.S.
and Canadian sales of RBC Life Sciences' nutritional supplements and
body care products increased to $1.49 million during the first quarter
of 2009 compared to $1.47 million during the first quarter of 2008. The
company's MPM Medical, Inc., brand saw its wound care and pain
management products sales increase 10 percent to $1.50 million during
the first quarter this year compared to $1.36 million during the same
quarter of 2008.
RBC
Life Sciences reported company-wide net sales of $6.02 million for the
quarter ended March 31, 2020, compared to net sales of $6.35 million
for the same quarter last year. The company also reported a net loss of
$171,000, or $0.01 per share, during the first quarter of 2009 compared
to net earnings of $355,000, or $0.02 per share, in 2008.
"One
of our priorities late last year was to invest in the expansion of our
domestic network marketing sales base," said RBC Life Sciences
President and CEO, John W. Price. "We believe this investment is
bearing fruit and will reward us moving forward, although our first
quarter expenses exceeded the gross profit we generated from increased
sales.
"Meanwhile, MPM Medical's pain management and wound care products are becoming increasingly popular within the medical field."
In
addition to the investment to expand the North American sales base,
first-quarter results were also affected by the delay in planned
shipments to certain international licensees. As a result of some
logistical factors, certain shipments scheduled for March 2009 were not
shipped until April 2009.
Despite
tough economic conditions, RBC Life Sciences has added approximately
2,000 new independent Associates since launching its domestic network
marketing rebuilding effort in November 2008. The company soon will
introduce a revised Associate compensation system that will be one of
the industry's most-rewarding commission plans.
Mr.
Price, who was promoted to CEO in January, began laying the framework
in early 2008 for increased domestic and international growth across
the company's nutritional supplements and medical products brands. In
addition to hiring a sales director, communications director, science
and technology director and a new vice president of marketing, Mr.
Price recruited a strategic-growth veteran to the board of directors.
About RBC Life SciencesRBC
Life Sciences develops, manufactures and markets high-quality
nutritional supplements and personal care products to a growing
population of consumers seeking wellness and a healthy lifestyle. Under
its MPM Medical
brand, RBC Life Sciences also develops and markets to health care
professionals in the United States proprietary prescription and
nonprescription products for advanced wound care and pain management.
All products are tested for quality assurance in-house, and by outside
independent laboratories, to comply with regulations in the U.S. and in
more than thirty countries in which the products are distributed. For
more information, visit the Company's Web site at www.rbclifesciences.com.
The
statements above, other than statements of historical fact, may be
forward-looking. Actual events will be dependent upon a number of
factors and risks including, but not limited to, changes in plans by
the Company's management, delays or problems in production, changes in
the regulatory process, changes in market trends, and a number of other
factors and risks described from time to time in the Company's filings
with the Securities and Exchange.
RBC Life Sciences, Inc.
Summary Results of Operations
(in thousands, except per share data)
(unaudited)
Quarters Ended March 31,
2009 2008
Net sales $6,016 $6,348
Gross profit 3,139 3,503
Operating profit (loss) (161) 612
Earnings (loss) before income taxes (203) 567
Provision (benefit) for income taxes (32) 212
Net earnings (loss) (171) 355
Earnings (loss) per share - basic and
diluted $(0.01) $0.02
Weighted average shares outstanding -
basic 21,917 21,114
Weighted average shares outstanding -
diluted 21,917 22,573
RBC Life Sciences, Inc.
Condensed Balance Sheets
(in thousands)
(unaudited)
March 31, December 31,
2009 2008
Assets
Cash and cash equivalents $5,631 $4,973
Inventories 5,202 5,707
Other current assets 2,467 2,245
Total current assets 13,300 12,925
Other assets 7,031 6,841
Total assets $20,331 $19,766
Liabilities and shareholders' equity
Accounts payable and accrued liabilities $2,781 $3,228
Deferred revenue 5,450 4,279
Other current liabilities 147 144
Total current liabilities 8,378 7,651
Other liabilities 2,708 2,728
Shareholders' equity 9,245 9,387
Total liabilities and shareholders'
equity $20,331 $19,766
SOURCE: RBC Life Sciences, Inc.
Web site: http://www.rbclifesciences.com/