MIAMI BEACH, Fla., Feb. 9, 2012 /PRNewswire/ -- Today Divine Skin (OTC Bulletin Board: DSKX) released preliminary revenue figures for the fourth quarter, $3.1 million, up 63 percent over the same quarter of 2010 and up 48 percent over the third quarter of 2011. For the year 2011, revenue totaled $9.6 million, up 78 percent over 2010.
Divine Skin CEO Daniel Khesin said, "While we experienced nearly triple-digit growth in 2011, we are far from satisfied with this result. We believe this number will improve significantly as we continue to optimize logistics.
"Our formulas are very complex, and bringing these one-of-a-kind products to market is a challenge," he continued. "The issue is our top priority going forward, and we are very excited about our prospects for 2012."
Divine Skin had a busy year. Notable achievements include:
- SALONS. In 2011 Divine Skin established new agreements with 19 salon distributors around the United States to sell its flagship brand, DS Laboratories. The new partners, each a leader in its market, employ a network of nearly 1,000 sales consultants who reach a combined 150,000 salons. In 2011 they penetrated 10 percent of their outlets, and in 2012 they project to have 30 percent selling the brand. Salon distribution, which represented a small fraction of sales prior to 2011, has become Divine Skin's fastest-growing segment, responsible for nearly half of its domestic business.
- FANTASTIC SAMS. DS Laboratories installed more locations of the huge Fantastic Sams chain of salons, supplying unique product, professional training, and promotional assistance.
- NEIMAN MARCUS. Prestigious fashion retailer Neiman Marcus picked up Divine Skin's super-premium Sigma Skin line for hair and skin.
- WHOLE FOODS. The NutraOrigin line was tested successfully in Whole Foods, a chain of 297 retail stores in the United States plus seven in Canada and six in the United Kingdom.
- NANOXIDIL. The company introduced a new compound, Nanoxidil, engineered to surpass minoxidil for efficacy and tolerability. It debuted in the new topical treatment Spectral.DNC-N.
- ASTRESSIN-B. DS Laboratories became the first biotech brand to commercialize a hair-growth treatment based on astressin-B, a peptide (protein fragment) newly discovered to regrow hair on bald mice. It debuted in the new Spectral.F7.
- API SOLUTION 9. The Polaris Research brand rolled out API Solution 9, a customizable topical kit to be sold by physicians. It delivers unprecedented concentrations of minoxidil, finasteride, and alfatradiol, and it has no direct competitor.
- ORAL ANALGESIC. Divine Skin announced its foray into pharmaceuticals with an oral analgesic to compete with Tylenol, Advil, and aspirin. Like the company's other products, it targets the market that appreciates more advanced biotechnology.
- NUTRAORIGIN. Expanding into nutritional supplements, Divine Skin acquired rights to NutraOrigin, with 63 formulas that can be incorporated easily into any health regimen.
- BRAZIL. A new Brazilian distributor conducted the successful trials and earned the required certificates needed to import product into that burgeoning market of 201 million eager consumers.
- RANBAXY LABORATORIES. Divine Skin announced a global partnership with India's largest pharmaceutical company, Ranbaxy Laboratories, to sell DS Laboratories products worldwide.
- CAPITALIZATION. Divine Skin secured new capital through Littlebanc Advisors to be used to build mounting inventory and service expanding distribution.
- AUDITORS. Top-30 auditing firm Cherry, Bekaert & Holland LLP began advising the company, bringing valuable experience with publicly traded manufacturers and lending greater credibility to financial statements.