Pompano Beach, Aug. 20, 2013 (GLOBE NEWSWIRE) -- DS Healthcare Group, Inc. (NASDAQ:DSKX), a leading developer ofpersonal care products, today announced results for the three andsix months ended June 30, 2013. Net revenues increased 35% for the first six months of 2013 to$7,392,846, over revenues of $5,482,244 in the same period of 2012.Revenue growth was primarily due to the acquisition of theCompany's Mexican subsidiary and carryover of unfilled orders fromthe fourth quarter of 2012. Gross profits for the six months endedJune 30, 2013 increased by 35% to $3,375,769 as compared to$2,501,081 in the same period of 2012. Net loss attributable toshareholders during the six months ended June 30, 2013 was$(1,125,056) or $(0.10) per basic and diluted share, as compared to$(808,423) or $(0.08) per basic and diluted share in the sameperiod of 2012. Net revenues for the second quarter of 2013 were $3,431,154, a2% decline from revenues of $3,498,262 in the second quarter of2012. Revenues decreased slightly due to the Company's new policiesrelated to extending credit to new and existing customers,preventing the Company from shipping some goods on its schedule.Gross profits increased by 10% to $1,601,087 in the second quarterof 2013, as compared to $1,450,761 in the second quarter of fiscal2012. Net loss attributable to shareholders in the second quarterof 2013 was $(757,063) or $(0.06) per basic and diluted share ascompared to $(368,086) or $(0.03) per basic and diluted share inthe second quarter of 2012. . The Company reported total current assets of $8,042,076 andtotal shareholders' equity of $3,204,332 on June 30, 2013. "In the first half of 2013 we have achieved record revenues. Wecontinue to launch new products and expand further into promisingnew markets like Brazil, through our distribution partner andMexico, through our newly acquired Mexican subsidiary. There istremendous enthusiasm in the market for our products and we striveto deliver more products to more people to meet their needs. Ourcustomers have a passion for our products because they areextremely effective. We reported results from a clinical study weconcluded during the second quarter which showed that ourSpectral.DNC-S is effective in the promotion of healthy hair and inthe cessation of thinning hair in males. We are optimistic aboutthe remainder of 2013 as we continue to execute on a tremendousmarket opportunity," stated DS Healthcare President and CEO DanielKhesin.
About DS Healthcare GroupDS Healthcare Group Inc. leads in the development anddistribution of topical therapies for personal care, including whatmanagement believes is the world's most effective topical treatmentfor hair loss. Its products are sold through a network of salons,pharmacies, online retailers, specialty retailers and selectdepartment stores. Its brands include DS Laboratories ( www.DSLaboratories.com), SigmaSkin (www. ( www.SigmaSkin.com),Polaris Research Laboratories ( www.PolarisResearchLabs.com)The Pure Guild ( www.ThePureGuild.com) and NutraOrigin ( www.NutraOrigin.com) Forward-looking statements Except for statements of historical fact, the matters discussedin this press release are forward-looking and made pursuant to theSafe Harbor provisions of the Private Securities Litigation ReformAct of 1995. "Forward-looking statements" describe futureexpectations, plans, results, or strategies, and are generallypreceded by words such as "future," "plan" or "planned," "expects,"or "projected." These forward-looking statements reflect numerousassumptions and involve a variety of risks and uncertainties, manyof which are beyond the company's control that may cause actualresults to differ materially from stated expectations. These riskfactors include, among others, limited operating history,difficulty in developing and marketing products, intensecompetition, and additional risks factors as discussed in reportsfiled by the company with the Securities and Exchange Commission,which are available at http://www.sec.gov.
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