Ambit Energy once again has been named a leading retail electric provider, based on an annual customer satisfaction study by J.D. Power.
Youngevity International Inc. (YGYI—OTCQX) on Thursday said revenue rose 10 percent to a record $42.5 million in the second quarter, compared to $38.7 million in the same period last year.
Why is the field of nutrition often more about marketing products than educating people about the fundamentals of healthy eating?
Video Source: NutritionFacts.org
SAN DIEGO, CA–(Marketwired – Aug 11, 2016) – 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 second quarter and six months ended June 30, 2016.
Second Quarter 2016 Highlights:
“Once again, the management team at Youngevity is excited to report record revenue for the second quarter 2016. We continue to see strong sales and customer growth in the United States and our international markets,” stated Steve Wallach, Chief Executive Officer of Youngevity International. He continued, “I was proud to see the significant improvements derived from our coffee sector as this business begins to scale.”
“Again, we are very pleased with our ongoing performance as we continue to grow top-line revenue,” said Dave Briskie, President and Chief Financial Officer of Youngevity International. He continued “Our distributors continue to develop outstanding sales organizations that have a keen focus on customer acquisition, lead by a very diversified quality line of products. While we intend to continue to expand our distributors, we also intend to remain diligent in identifying additional products, either developed internally or through acquisitions, which quarter after quarter has proven to be an increasing predictable and sustainable business model.”
Second Quarter 2016 Financial Results:
For the three months ended June 30, 2016, the Company reported revenue of $42.5 million, compared to $38.7 million in 2015, a 9.7% increase whereby 87% of our revenue was derived from our direct selling segment and approximately 13% of our revenue from our commercial coffee segment. The increase in direct selling revenue is attributed primarily to the increase in our product offerings, the increase in the number of distributors selling our product and the increase in the number of customers consuming our products. Approximately 4.4% of the increase was derived from new acquisitions.
Gross profit for the second quarter of 2016, increased approximately 6.8% to $25.4 million as compared to $23.8 million for the three months ended June 30, 2015. Gross profit as a percentage of revenue decreased to 59.8% in the current quarter compared to 61.5% in the same period last year.
Operating expenses for the three months ended June 30, 2016, increased approximately 11.1% to $23.9 million as compared to $21.5 million for the three months ended June 30, 2015. The main contributor to the increase was derived from a significant increase in sales and marketing expense which increased 65.6% to $2.6 million in the current quarter from $1.6 million in the same period last year. This was primarily due to the Company’s annual convention held in the first quarter in 2015 as compared to the current year convention held in the second quarter of the current year.
For the second quarter of 2016, the general and administrative expense increased 6.7% to $4.5 million from $4.2 million for the three months ended June 30, 2015, primarily due to increases in employee compensation and consulting fees.
For the three months ended June 30, 2016 total other expense decreased to $1.6 million as compared to $3.3 million for the three months ended June 30, 2015. The decrease was primarily due to the change in fair value of the warrant derivative liability from $2.2 million in 2015 to $484,000 for the three months ended June 30, 2016.
For the second quarter of 2016, the Company reported a net loss of $109,000 as compared to a net loss of $408,000 for the three months ended June 30, 2015.
EBITDA (earnings before interest, taxes, depreciation and amortization) as adjusted to remove the effect of stock based compensation expense and change in fair value of warrants, or “Adjusted EBITDA,” was $2.6 million for the three months ended June 30, 2016 compared to $3.3 million in the same period for the prior year.
Fiscal 2016 First Six Months Results:
For the six months ended June 30, 2016, our revenue increased 6.8% to $80.7 million as compared to $75.5 million for the six months ended June 30, 2015. During the six months ended June 30, 2016, we derived approximately 89% of our revenue from our direct selling segment and approximately 11% of our revenue from our commercial coffee segment. The increase in direct selling revenue is attributed primarily to the increase in our product offerings, the increase in the number of distributors selling our product and the increase in the number of customers consuming our products as well as $3.7 million derived from new acquisitions.
For the first six months of fiscal 2016, gross profit increased approximately 10.7% to $48.8 million as compared to $44.1 million for the six months ended June 30, 2015.
For the first six months of fiscal 2016, total operating expenses increased approximately 11.3% to $46.1 million as compared to $41.4 million for the six months ended June 30, 2015.
Total other expense decreased to $2,027,000 for the first six months ended June 30, 2016, as compared to $4,480,000 for the six months ended June 30, 2015. This decrease was primarily due to the change in fair value of warrant derivative from an expense of $2,301,000 in the six months ended June 30, 2015 to a gain of $166,000 in the six months ended June 30, 2016.
For the six months ended June 30, 2016, the Company reported net income of $42,000 as compared to a net loss of $777,000 for the six months ended June 30, 2015. The net increase of $819,000 was primarily attributable to the change in fair value of warrant derivative discussed above, offset by an income tax benefit of $1,040,000 for the six months ended June 30, 2015 compared to an income tax expense of $618,000 for the same period in the current year.
EBITDA (earnings before interest, income taxes, depreciation and amortization) as adjusted to remove the effect of stock based compensation expense and the change in the fair value of the warrant derivative or “Adjusted EBITDA,” was $4.8 million for the six months ended June 30, 2016 compared to $4.5 million in the same period for the prior year.
Conference Call Information
Management will host a conference call today at 4:15 PM Eastern Daylight Time (1:15 PM Pacific Daylight Time), to discuss the Company’s financial results, for the second quarter and six months ended June 30, 2016. Investors can access the conference call by dialing Toll: 1 (415) 655-0060 and entering the access code: 792-908-778. It is advised that you dial-in at least five minutes prior to the call. The conference call will be recorded and available for replay shortly after the conclusion of the call. Recorded calls are available in the Investor Relations section of the Youngevity International website: http://ygyi.com/calls.php
Non-GAAP Financial Measure — Adjusted EBITDA
This news release includes information on Adjusted EBITDA, which is a non-GAAP financial measure as defined by SEC Regulation G.
Management believes that Adjusted EBITDA, when viewed with our results under GAAP and the accompanying reconciliations, provides useful information about our period-over-period growth. Adjusted EBITDA is presented because management believes it provides additional information with respect to the performance of our fundamental business activities and is also frequently used by securities analysts, investors and other interested parties in the evaluation of comparable companies. We also rely on Adjusted EBITDA as a primary measure to review and assess the operating performance of our company and our management team.
Adjusted EBITDA is a non-GAAP financial measure. We calculate adjusted EBITDA by taking net income, and adding back the expenses related to interest, income taxes, depreciation, amortization, stock based compensation expense and change in the fair value of the warrant derivative, as each of those elements are calculated in accordance with GAAP. Adjusted EBITDA should not be construed as a substitute for net income (loss) (as determined in accordance with GAAP) for the purpose of analyzing our operating performance or financial position, as Adjusted EBITDA is not defined by GAAP. A reconciliation is provided at the end of this press release.
GILBERT, Ariz., Aug. 10, 2016 /PRNewswire/ — Isagenix International , a global health and wellness company, ended its annual 2016 Celebration event in Las Vegas today by raising more than $100,000 for Make-A-Wish ® through fundraising and generous customer and corporate pledges. Additionally, Isagenix and Make-A-Wish surprised teen Jordyn, a 16-year-old battling a rare form of liver cancer, with an on-stage wish reveal in front of more than 14,000 customers. Next summer, her wish to travel toLondon will be granted!
“Our team’s passion for impacting overall health and the wellbeing of others is reflected in our continued support of children’s charities,” said Kathy Coover, Isagenix Co-Founder and Executive Vice President. “We enjoy coming together every August to bring happiness and positive experiences for children battling life-threatening medical conditions.”
During the past 14 years, Isagenix has raised more than $8 million for children’s charities. This includes more than $5 million for Make-A-Wish since 2012, which has helped to grant more than 580 wishes to deserving children throughout the seven countries where they partner. This year alone, Isagenix has raised more than $2 million for Make-A-Wish. More than 520,000 Isagenix customers and staff have the opportunity to contribute to Make-A-Wish on an ongoing basis.
“Isagenix customers and employees remain committed to positively impacting and improving world health through our support of Make-A-Wish children to enrich the human experience with hope, strength, and joy,” said Travis Garza, Isagenix Chief Sales and Marketing Officer.
iMarketsLive , a Forex education platform dedicated to teaching people how to trade forex and futures to a global audience, is excited to announce Alex Morton as their new Executive Vice President of Sales.
Alex has had a very distinguished career in the Network Marketing industry, breaking company records, generating significant revenue increases, & causing intense enthusiasm & passion in the sales force.
Alex pioneered a “Millennial Movement” within those companies. This caused an industry wide phenomenon where the majority of companies attempted to crack the code on the Millennial Generation.
Alex is a best-selling author penning two books on personal development. He also is a transformational speaker, transforming tens of thousands of lives across the globe.
He is very excited to team up with the CEO of iMarketsLive, Christopher Terry , and impact people all over the world using the iMarketsLive trading products and services.
“We are very excited that Alex has chosen to work with iMarketsLive, he is very dynamic, professional, and has a drive for success that is unparalleled.
Alex is a huge asset to our company and he loves that our business model allows everyone to achieve success just by using our educational services!”
iMarketsLive provides a full array of retail trading products and services to a global audience for those who want to participate in the Forex & Futures Markets. iMarketsLive’s services include a Live Educational Services, Hands Free Mirror Trading as well as a Robotic Trade Scanner and other amazing services.
iMarketsLive has a bundled their products/services with a Network Marketing compensation plan that allows its IBO’s to earn a generous income by simply sharing their services with others and building a residual income though building a network of IBO’s and customers. For more information please visit www.imarketslive.com