FitLife Brands Inc. (OTCBB:FTLF), an international provider of innovative and proprietary nutritional supplements for health conscious consumers marketed under the brand names NDS Nutrition Products™, PMD®, SirenLabs® and CoreActive® announced financial results for the third quarter ended Sept. 30, 2014.
Highlights for the third quarter of 2014 include:
- Revenue increased 12.3 percent to $5.5 million
- Operating margin increased 180 basis points to 11.7 percent of sales versus the prior year
- Net income of $564,079 versus $485,591, an increase of 16.2 percent during the same period last year
- Diluted earnings per share of $0.07 versus $0.05 during the previous year
Revenue for the three months ended Sept. 30, 2014, was $5.5 million as compared to $4.9 million for the comparable period in 2013, an increase of 12.3 percent. For the three month period ended Sept. 30, 2014, the Company reported net income of $564,079 versus net income of $485,591 in the comparable period during 2013.
For the first nine months of 2014, revenue was $17.8 million as compared to $16.0 million for the first nine months of 2013, an increase of 11.3 percent. For the nine month period ended September 30, 2014, the Company reported net income of $2.2 million versus $1.5 million in the comparable period in 2013, an increase of 41.4 percent.
The Company ended the quarter with $3.6 million in cash, versus $3.3 million at the end of 2013. During the first nine months of 2014, total debt, excluding the line of credit, decreased by $365,059 to $2.1 million.
“Our third quarter results reflect the continued strength of our business. We have posted double-digit revenue growth for 14 of the past 15 quarters,” stated John S. Wilson, chief executive officer of FitLife Brands. “With continued success in the introduction of new innovative products and flavors, a commitment to our existing franchise-exclusive brands, the rollout into additional international franchise locations, and upcoming launch of our new corporate-exclusive product line during the first quarter of 2015, we believe we have a long runway of organic growth in front of us.”