Youngevity International, Inc. (OTCQX: YGYI ) (www.YGYI.com ), a global direct marketer of nutritional and lifestyle products and also a vertically-integrated producer of gourmet coffees for the commercial, retail and direct sales channels, today reported financial results for the first quarter ended March 31, 2016.
2016 First Quarter Highlights:
“The first quarter of 2016 was one of the most active and exciting quarters in the Company’s history,” stated Steve Wallach, Chief Executive Officer of Youngevity International.
He added, “We were excited to announce the appointment of three senior members to the Youngevity management team: Scott Salik as Vice President of Global Content, Scott Bell as Vice President of Analytics and Promotions, and Scott McElroy as Director of Information Technology and Project Management Operations.
These three industry leaders hit the ground running and the Company has benefitted from their strategic planning and tremendous industry experience. In addition to building out our management team, we launched a new and innovative social selling platform and are expanding the Company’s offerings into small business lending and merchant services.”
Dave Briskie, President and Chief Financial Officer of Youngevity, said,
“We are pleased to see strong improvements in profitability and continued growth. Our direct selling division was the main contributor to our continued growth logging a 10% increase in revenues over last year.
Although our gourmet coffee business did not have a strong quarter in terms of growth we believe it is well positioned for a strong second half to 2016. In January, we secured three new top tier distribution partners for Cafe La Rica and Josie’s Java Hose Brands, which extends our distribution coverage into 10 additional states. In February alone, we received orders for a total of 18.5 million pounds of Green Coffee.
And just this month, we had the pleasure of announcing that the Siles Family Plantation Group has been recertified as Fair Trade Organic for 2016 as well as Rainforest and Bird Friendly. We continue to work for a safe and sustainable environment, while supporting the social development of workers and communities in and around our plantations in Nicaragua.”
First Quarter 2016 Financial Results:
About Youngevity International
Youngevity International, Inc. (OTCQX: YGYI ) (www.YGYI.com ) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels.
The Company was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com ) and Javalution Coffee Company in the summer of 2011. The Company was formerly known as AL International, Inc. and changed its name to Youngevity International Inc. in July 2013. For more information, visit www.YGYI.com or find us on Facebook https://www.facebook.com/Youngevity or follow us on Twitter @youngevity https://twitter.com/youngevity .