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Stocks Under $10 with 50-100% upside potential - 14 days FREE! Announces Results For The Fourth Quarter And Full Year 2012

Stocks in this article: VITC

Fourth Quarter Revenue Up 26% Year-Over-Year With Continued Strength in New Customers and Order Growth Total Active Customers of 1.7 Million

BOCA RATON, Fla., Feb. 28, 2013 (GLOBE NEWSWIRE) --, Inc. (Nasdaq:VITC), a leading online retailer of health and wellness products, today reported financial results for the fourth quarter and full year ended December 31, 2012. The number of shipped orders on increased 23% year-over-year in the fourth quarter with new customers up 28% compared to the fourth quarter of 2011.

The Company reported net sales of $85.0 million for the fourth quarter of 2012, a 26% increase from net sales of $67.4 million for the fourth quarter of 2011. Gross profit in the fourth quarter increased 23% year-over-year to $19.2 million – the highest quarterly result in the Company's history. Non-GAAP adjusted EBITDA for the fourth quarter of 2012 was a loss of $1.0 million compared to a loss of $1.7 million in the fourth quarter of 2011, excluding certain items. The Company reported an operating loss of $3.2 million in the fourth quarter of 2012 and in the fourth quarter of 2011, excluding certain items.

For the full year 2012, net sales increased 27% year-over-year to $330.7 million. The number of shipped orders on increased 26% in 2012, as the number of new customers increased 45% from 2011.

"During 2012, we continued to execute on our initiative to grow our customer base as we added nearly 940,000 new customers on our website – bringing our total active customer base to 1.7 million at year-end," stated Jeffrey Horowitz, Chief Executive Officer. "We also continue to expand our product offerings with the addition of over 5,000 net SKUs during the year in our core Vitamin, Mineral, Herb, and Supplement business and in complementary healthy living categories, such as natural beauty care, sports nutrition and health foods. We also achieved numerous customer satisfaction and service awards during the year, as we are always focused on serving the needs of our customers. As we move into 2013, we remain focused on expanding our customer base and improving the efficiency of our operations."

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