Youngevity International Inc. on Monday reported record quarterly sales of its nutrition and lifestyle products. Revenue totaled $41.3 million in the third quarter, up 9.9 percent from a year ago.
Year to date, revenue has increased 20.8 percent to $116.9 million. In the third quarter, the Chula Vista, California-based company derived 90 percent of revenue from direct selling operations and the remaining 10 percent from its commercial coffee business. Gross profit increased 19.3 percent to $25 million.
Earnings climbed from $185,000 in the prior year to $416,000. Earnings before interest, taxes, depreciation and amortization remained flat at $2.1 million. The company reported an expense reduction of $1.1 million resulting from the change in fair value of warrant derivatives, due to the lower market price of Youngevity stock.
“We are very pleased with our performance to date, and we are on track for a year of record revenue,” CEO Steve Wallach said in a statement. “From an international perspective, we opened an office in Singapore, the gateway to the rest of Asia. The launch of the office has brought our products into this major market.”
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