Divine Skin Announces Record Quarterly Revenue Of $1.3 Million, Up 30% From Q1 2010, Up 78% From Q2 In 2009
MIAMI BEACH, Fla., Aug. 16 /PRNewswire-FirstCall/ -- Executives at biotech developer Divine Skin Inc. (OTC Bulletin Board: DSKX) were pleased to announce their Second Quarter numbers — up 30 percent over Q1 of this year and 78 percent over Q2 of last year, while net income was up nearly 380% over Q1 and Q2 last year.
Gross revenue for the quarter was $1.33 million — a new record and a second consecutive quarterly gain — which compared with $1.07 million for Q1 and $760,000 for Q2 of 2009. Net income for the quarter was $232,000 while posting a loss of $215,000 in the same period last year.
The company develops, manufactures, and distributes advanced technologies for topical preparations, OTC drugs and prescription drugs within the personal care space. The company aims to capitalize on its research and development expertise to establish new treatments that lead to improved quality of life for many of its customers.
"Despite that this performance fell short of our target," said Divine Skin CEO Daniel Khesin. "We are very much on track with our distribution and product development strategy implementation. DS Laboratories brand has been adding new salons at a tremendous pace. Our Sigma Skin brand has just completed an agreement with Neiman Marcus – one of the highest end Department store in the US. We have so much new business in the pipeline, shareholders will be very pleased. Our main obstacle at the present moment is meeting the huge demand due to complex manufacturing requirements for our technologically driven formulations. We can easily deliver significantly more sales volume if we simply improve the efficiency of our supply chain."Khesin reaffirmed that the company is on track to supply Fantastic Sams, a chain of 1,300 franchised salons throughout the United States, by the end of Q3. The company expects that distribution agreement to be worth $4.6 million per year when fully implemented. About Divine Skin Divine Skin Inc. develops, markets, and distributes technologically advanced personal-care products through a diverse network of wholesalers, online retailers, specialty outlets, spas, salons, and medical offices in more than 20 countries. Its brands include DS Laboratories, Sigma Skin, and Polaris Research.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV