ENGLEWOOD, Colo.--(BUSINESS WIRE)--April 18, 2005--OraLabs Holding Corp. (NASDAQ: OLAB - News) today announced that year end revenues were $13,130,579 with a loss of ($.12) per share, or ($565,108). This compares to 2003 reported revenues of $14,068,220 with earnings of $.00 per share, or $1,222.
Revenues decreased $937,640 and net income decreased $566,330. The decreases can be significantly attributed to lower gross margins and lower overall sales accompanied by increased general and administrative expenses.
A more detailed explanation of these results can be found in the 2004 Form 10-KSB, Part II, Results of Operations.
OraLabs, Inc. manufactures Ice Drops® and Sour Zone(TM) brands oral care products; and Lip Rageous®, Lip Naturals®, Chap Ice®, Essential Lip Moisturizer, Leashables®, Chapgrip®, Soothe & Shine® brands of lip balm. The product line includes breath drops and sprays, sour drops and sprays, lip balms and a variety of private label products. The Company's products are currently sold in the USA nationally as well as numerous foreign countries. The products are sold through wholesale distributors as well as by direct sale to mass retailers, grocery stores, convenience stores and drug stores.
The Company's dietary supplement products include 5-HTP and Cheat & Lean(TM).
Forward-Looking and Cautionary Statements
Except for historical information and discussions contained herein, statements included in this release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Reference is made in particular to statements regarding anticipated sales growth, expectations regarding financial results for the quarter and expectations regarding future outcomes. These statements are based on the company's current beliefs and expectations as to such future outcomes. These statements involve a number of risks, uncertainties, and other factors that could cause results to differ materially, as discussed in the Company's filings with the Securities and Exchange Commission.