Welcome, visitor! Register

Youngevity Sales Up 56% To $134 Million In 2014

Uncategorized March 31, 2015

Youngevity Sales Up 56% To $134 Million In 2014
Rate this post

Youngevity Sales Up 56% To $134 Million In 2014

 

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 fourth quarter and full year ended December 31, 2014.

2014 Full Year Highlights:

  • Net Revenue increased 56.5% over the prior year to $134.0 million.
  • Gross Profit increased 48.8% to $76.3 million compared to the prior year.
  • Net Income of $5.4 million compared to $2.7 million. The increase in net income in 2014 was substantially due to a tax benefit of $4.7 million, which was mostly attributable to valuation allowance adjustments relating to deferred taxes.

“2014 was a strong year for Youngevity as we delivered solid financial results while continuing to make strategic investments to grow our diverse product line and geographical presence,” stated Steve Wallach, Chief Executive Officer of Youngevity International.

Mr. Wallach continued, “We are excited about our growth opportunities ahead of us and believe that the strategies we have in place will position the Company for long-term growth and produce strong results in 2015. We believe that international markets represent the greatest future opportunity for Youngevity and we will continue to work toward our objective of becoming a significant participant in the global marketplace.”

Dave Briskie, Chief Financial Officer of Youngevity, said, “We continue to deliver results per our operating plan and growth strategy. We produced record revenues in 2014 and we achieved our objective of expanding our opportunities for delivering multiple revenue streams in multiple markets, and product categories while being fiscally responsible.

In 2014, our direct selling segment revenue grew 51% and our commercial coffee segment revenue grew 101% over the prior year. As we enter 2015, we remain focused on accelerating our revenue via targeted acquisitions, global expansion, and steady organic growth in both our direct selling and coffee business segments. We are confident in our unique business model and look forward to continuing to accelerate our strategic international expansion efforts to deliver long-term shareholder value.”

2014 Full Year Results:

For the year ended December 31, 2014, the Company reported net revenue of $134.0 million, compared to $85.6 million in 2013, a 56.5% increase. The increase in direct selling revenue is attributed primarily to the increase in the Company’s product offerings, the number of distributors selling our products and the increase in the number of customers consuming our products. Also, $14.5 million in additional revenue was derived from our acquisitions. The increase in revenues in commercial coffee is primarily due to the addition of the green coffee business.

Gross Profit for the year ended December 31, 2014, increased 48.8% to $76.3 million as compared to $51.3 million for the year ended December 31, 2013. Gross Profit as a percentage of revenues decreased to 56.9% for the year ended December 31, 2014, compared to 59.9% in the same period last year, primarily due to the lower margins in the green coffee business, margin compression from fixed price contracts and expenses incurred in connection with the coffee production facility expansion.

Operating expenses for the year ended December 31, 2014, increased approximately 55.4% to $73.0 million as compared to $47.0 million for the year ended December 31, 2013. Distributor commissions increased to 45.2% as a percentage of direct selling revenues, compared to 42.9% in the prior year, primarily due to added incentive programs and higher level achievements by distributors. Other increased operating costs were due to start-up costs related to the MK Collaborative line of business that was launched in the first quarter and costs related to the international expansion efforts, particularly in Russia and Nicaragua.

As of December 31, 2014, the Company evaluated the realizability of the deferred tax asset and determined that it is more likely than not that the deferred tax asset will be realized. Therefore, the Company has reversed the majority of the valuation allowance. A valuation allowance still remains on the state and foreign tax attributes. The net change in the valuation allowance and deferred taxes resulted in a tax benefit of $4.7 million recorded in the fourth quarter of 2014.

Net income for the year ended December 31, 2014, increased 102.5% to $5.4 million as compared to net income of $2.7 million for the year ended December 31, 2013. The increase of $2.7 million was primarily attributable to the income tax change of $4.8 million, which was primarily due to the recognition of the income tax benefit of $4.7 million in the fourth quarter discussed above, offset by a decrease in income before income taxes of $2.1 million.

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 $6.6 million for the year ended December 31, 2014 compared to $7.3 million in the same period for the prior year, a decrease of 9.4%.

Total assets as of December 31, 2014, were $55.7 million, compared to $34.9 million as of December 31, 2013.

Stockholders’ equity as of December 31, 2014, was $18.6 million, compared to $11.5 million as of December 31, 2013.

About Youngevity International

Youngevity International, Inc. (OTCQX: YGYI) (www.YGYI.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels.

The Company was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com) and Javalution Coffee Company in the summer of 2011. The Company was formerly known as AL International, Inc. and changed its name to Youngevity International Inc. in July 2013. For more information, visit www.YGYI.com or find us on Facebook https://www.facebook.com/Youngevity or follow us on Twitter @youngevity https://twitter.com/youngevity.

http://www.businessforhome.org/2015/03/youngevity-sales-up-56-to-134-million/

top-5-australian-business-directories-free-listing

No Tags

310 total views, 1 today

  

Sponsored Links

Leave a Reply

  • PACL - आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला

    by on March 11, 2015 - 59 Comments

    PACL – आज आ सकता है निवेशकों के दो करोड़ रुपए का फैसला5 (100%) 2 votes मध्य प्रदेश/रतलाम। PACL में फंसे निवेशकों की राशि पर फैसला बुधवार को आने की संभावना है। सेट यदि कंपनी को रुपए लौटाने का आदेश देता है तो एक साल बाद निवेशकों को पैसा मिलेगा। कंपनी आरडी, एफडी सहित अन्य […]

  • KWIL कंपनी ने उगाहे झारखंड से 300 करोड़

    by on February 17, 2015 - 13 Comments

    KWIL कंपनी ने उगाहे झारखंड से 300 करोड़Rate this post कोलकाता: Kolkata Weir Industries Limited नाम की चिटफंड कंपनी पर पांच वर्षो में झारखंड से 300 करोड़ रुपये की उगाही कर गायब होने का आरोप है.  इस चिटफंड कंपनी के एजेंट तमाल कुमार जाना ने बताया : झारखंड में कंपनी ने 2009 में अपना व्यवसाय शुरू किया […]

  • The Direct Selling Association – No Backbone When You Are Under Sieg

    by on September 3, 2015 - 0 Comments

    The Direct Selling Association – No Backbone When You Are Under SiegRate this post The Direct Selling Association – No Backbone When You Are Under Sieg   According to the Direct Selling Organisation (DSA) website: “DSA’s services to members are designed to meet the needs of one person critical to the industry’s growth and future […]

  • VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तार

    by on May 1, 2015 - 0 Comments

    VISHWAMITRA INDIA और SAI PRASAD पर हुई छापेमारी, 24 गिरफ्तारRate this post झारखंड /जमशेदपुर – चिटफंड कंपनियों पर नकेल कसने के लिए झारखंड उच्च न्यायालय की फटकार के बाद सरकारी मशीनरी हरकत में आ गई है. रांची जिला प्रशासन ने गुरुवार को दो चिटफंड कंपनियों के विरुद्ध अभियान चलाया.  पुलिस ने गुरुवार को राजधानी में […]

  • Talk Fusion Anticipates Record-Breaking Dream Getaway

    by on September 30, 2015 - 0 Comments

    Talk Fusion Anticipates Record-Breaking Dream GetawayRate this post Talk Fusion Anticipates Record-Breaking Dream Getaway   With only 6 weeks left in the qualification period, Talk Fusion is already expecting attendance to break all previous records for their 6th Dream Getaway vacation incentive from December 3-7, 2015. Talk Fusion rewards qualified Associates from across the globe […]

Subscribe to News via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 24 other subscribers