CHESTERFIELD, Mo., Oct. 31, 2013 (GLOBE NEWSWIRE) -- Reliv International, Inc. (Nasdaq:RELV), a maker of nutritional supplements that promote optimal health, today reported its financial results for the third quarter of 2013.
Net sales for the quarter were $16.5 million, an 8.3 percent increase from the third quarter last year. Net U.S. sales totaled $13.2 million, an increase of $1.1 million, or 9.0 percent, compared to third-quarter 2012 net sales. Net sales outside of the United States rose 5.4 percent in the third quarter of 2013 compared to the prior-year quarter, led by the European market where net sales increased by 21.3 percent.
Income from operations for the third quarter of 2013 increased to $402,000 compared to a loss of $32,000 in the same quarter of 2012 due to the increase in net sales in the United States. Net income for the third quarter of 2012 included a one-time after-tax gain of approximately $247,000 resulting from a discounted balance due on a purchase agreement entered into in a previous year. As a result, net income for the third quarter of 2012 was $287,000 or $0.02 per diluted share, compared to net income for the third quarter of 2013 of $293,000 or $0.02 per diluted share.Third quarter 2013 net sales grew in the United States as Reliv continues to focus on its LunaRich® product line. The LunaRich product line contains elevated levels of lunasin, a naturally occurring soy peptide that works at the epigenetic level in cells to promote optimal health. Reliv acquired the exclusive rights to certain intellectual property related to lunasin and its production from Soy Labs, LLC in July 2013. "The word is getting out about lunasin as new studies emerge," said Robert L. Montgomery, Chairman and CEO of Reliv. "Reliv's LunaRich® products deliver more bioactive lunasin than any other product available today, and for the first time we control an ingredient in its entirety, from the extraction process to the patented mechanisms of action within the body." U.S. third-quarter net sales were led by the flagship products in the LunaRich line, Reliv Now® and LunaRich X™, which made up 18.1 and 13.2 percent of U.S. sales, respectively.