This article was originally published in The Tan Sheet
Third-quarter revenues increased 47% to $1.5 mil. and net loss decreased 99.5% to $11,000, Vital Living announces Nov. 3. As gross profit rose 70% to $853,000, CEO Stuart Bensons attributed the company's "substantially improved financial results" to the "corporate turnaround" program that was initiated last year. "The compay's ability to execute successfully its business plan by focusing on its core competencies led to a dramatic improvement in the bottom line, as we approached breakeven in the third quarter," Benson added. Strong revenue growth "resulted primarily from increased sales of our core product, GreensFirst, combined with the positive momentum achieved in our extended Doctors for Nutrition brand," CFO Gregg Linn said. Vital Living intends to expand its regional distributor base as well as introduce a proprietary quality-assurance program called Vital Assure...
You may also be interested in...
Chief medical officer Samit Hirawat outlines R&D successes – though there have been some setbacks since it bought Celgene for $74bn last year – and the company’s commitment to clinical trial diversity.
Letter from department’s general counsel responds to request from the company for a pre-enforcement advisory opinion. Despite the letter, Lilly maintains its ‘limited distribution program is fully consistent with applicable laws and regulations.’
Trademarks are registered and published for opposition with the US Patent and Trademark Office and are published weekly in the agency's Official Gazette.