RBC Life Sciences Inc., a provider of proprietary nutritional supplements, and wound care and pain management products, reported consolidated net sales of $6.1 million for the quarter ended March 31, 2012, which compares to consolidated net sales of $6.5 million for the comparable quarter in 2011. For the quarter ended March 31, 2012, the Company reported a net loss of $73,000, or $0.00 per share, compared to net earnings of $143,000, or $0.01 per share, for the same quarter in 2011.
"In the first quarter of 2012, our Associate network channel continued its growth trend with an increase of 4 percent," said RBC Life Sciences President and CEO, Clinton H. Howard. "Sales of our new dietary supplement product, Stem-Kine, continued to be a positive factor in this channel along with improving sales results in the Taiwan market, which we opened last year. The net loss for the quarter was primarily attributable to a $140,000 non-recurring charge that resulted from the disposal of inventory that did not meet our quality standards."
Stem-Kine is a dietary supplement that has been shown in published human clinical studies to nutritionally enable bone marrow and other stem-cell-producing tissues, which form the natural repair and renewal system of the body, to increase their production of stem cells. The Company distributes Stem-Kine under an exclusive license agreement that covers the U.S. and 41 other countries.