Attached files
| file | filename |
|---|---|
| 8-K - RBC LIFE SCIENCES, INC. | v192620_8k.htm |
| EX-10.1 - RBC LIFE SCIENCES, INC. | v192620_ex10-1.htm |
EXHIBIT
99.1
RBC Life Sciences®
August 3,
2010
RBC
Life Sciences Reports 16% Second Quarter Sales Growth
Irving, Texas (RBC Life Sciences:
OTCBB: RBCL) — RBC Life Sciences, Inc., a provider of proprietary nutritional
supplements, wound care and pain management products, today reported
company-wide net sales of $7.8 million for the second quarter ended June 30,
2010, compared to net sales of $6.8 million for the same period during 2009, an
increase of 16%. Net sales for the six months ended June 30, 2010
also increased 16% to $14.8 million compared to net sales of $12.8 million
during the same period in 2009.
For the
second quarter of 2010, the Company reported net earnings of $172,000, or $0.01
per share, compared to net earnings of $277,000, or $0.01 per share, during the
same quarter in 2009. Net earnings for the six months ended June 30,
2010 were $383,000, or $0.02 per share, compared to $106,000, or $0.00 per
share, during the same period in 2009.
“We are
pleased to report year over year sales growth in both of our industry segments
as well as significant improvement in earnings during the first six months of
2010,” said RBC Life Sciences President and CEO, Clinton H.
Howard. “We are particularly pleased with continued recovery of our
international licensee business after the challenges we faced in that market
last year.”
Net sales
to licensees, which represent 59% of consolidated net sales, increased 28%
during the first six months of 2010 over the comparable period in
2009.
About RBC Life
Sciences
Through
wholly owned subsidiaries,
RBC Life Sciences develops, manufactures and markets high-quality
nutritional supplements and personal care products under its RBC Life brand to a
growing population of consumers seeking wellness and a healthy lifestyle.
Through its wholly owned subsidiary, MPM Medical, the
Company also develops and markets to health care professionals in the United
States proprietary prescription and nonprescription products for advanced wound
care and pain management. All products are tested for quality assurance
in-house, and by outside independent laboratories, to comply with regulations in
the U.S. and in more than thirty countries in which the products are
distributed. For more information, visit the company's Web site at www.rbclifesciences.com.
The
statements above, other than statements of historical fact, may be
forward-looking. Actual events will be dependent upon a number of factors and
risks including, but not limited to, changes in plans by the Company's
management, delays or problems in production, changes in the regulatory process,
changes in market trends, and a number of other factors and risks described from
time to time in the Company's filings with the Securities and Exchange
Commission.
Contact:
Steve
Brown
972-893-4000
steve.brown@rbclifesciences.com
RBC Life
Sciences - Second Quarter 2010
Page
2
RBC
Life Sciences, Inc.
Summary
Results of Operations
(in
thousands, except per share data)
(unaudited)
|
Quarters Ended June 30,
|
||||||||
|
2010
|
2009
|
|||||||
|
Net
sales
|
$ | 7,838 | $ | 6,759 | ||||
|
Gross
profit
|
4,182 | 3,521 | ||||||
|
Operating
profit
|
357 | 508 | ||||||
|
Earnings
before income taxes
|
318 | 466 | ||||||
|
Provision
for income taxes
|
146 | 189 | ||||||
|
Net
earnings
|
172 | 277 | ||||||
|
Earnings
per share – basic and diluted
|
$ | 0.01 | $ | 0.01 | ||||
|
Weighted
average shares outstanding – basic
|
21,922 | 21,922 | ||||||
|
Weighted
average shares outstanding – diluted
|
22,387 | 22,477 | ||||||
|
Six Months Ended June 30,
|
||||||||
|
2010
|
2009
|
|||||||
|
Net
sales
|
$ | 14,820 | $ | 12,775 | ||||
|
Gross
profit
|
7,045 | 6,660 | ||||||
|
Operating
profit
|
757 | 347 | ||||||
|
Earnings
before income taxes
|
679 | 263 | ||||||
|
Provision
for income taxes
|
296 | 157 | ||||||
|
Net
earnings
|
383 | 106 | ||||||
|
Earnings
per share – basic and diluted
|
$ | 0.02 | $ | 0.00 | ||||
|
Weighted
average shares outstanding – basic
|
21,922 | 21,920 | ||||||
|
Weighted
average shares outstanding – diluted
|
22,322 | 22,509 | ||||||
RBC Life
Sciences - Second Quarter 2010
Page
3
|
RBC
Life Sciences, Inc.
|
||||||||
|
Condensed
Balance Sheets
|
||||||||
|
(in
thousands)
|
||||||||
|
(unaudited)
|
||||||||
|
June
30,
|
December
31,
|
|||||||
|
2010
|
2009
|
|||||||
|
Assets
|
||||||||
|
Cash
and cash equivalents
|
$ | 3,697 | $ | 3,972 | ||||
|
Inventories
|
4,804 | 5,344 | ||||||
|
Other
current assets
|
2,002 | 1,914 | ||||||
|
Total
current assets
|
10,503 | 11,230 | ||||||
|
Other
assets
|
7,207 | 7,383 | ||||||
|
Total
assets
|
$ | 17,710 | $ | 18,613 | ||||
|
Liabilities
and shareholders’ equity
|
||||||||
|
Accounts
payable and accrued liabilities
|
$ | 2,444 | $ | 2,729 | ||||
|
Deferred
revenue
|
2,715 | 3,669 | ||||||
|
Other
current liabilities
|
163 | 156 | ||||||
|
Total
current liabilities
|
5,322 | 6,554 | ||||||
|
Other
liabilities
|
2,758 | 2,840 | ||||||
|
Shareholders’
equity
|
9,630 | 9,219 | ||||||
|
Total
liabilities and shareholders’ equity
|
$ | 17,710 | $ | 18,613 | ||||
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