FitLife Brands Announces Fiscal 2016 Third Quarter, Nine Months Results

FitLife Brands, Inc. ("FitLife") (OTCBB: FTLF), an international provider of innovative and proprietary nutritional supplements for health conscious consumers marketed under the brand names NDS Nutrition Products™ ("NDS") ( www.ndsnutrition.com), PMD® ( www.pmdsports.com), SirenLabs® ( www.sirenlabs.com), CoreActive® ( www.coreactivenutrition.com), Metis Nutrition™ ( www.metisnutrition.com), iSatori™ ( www.isatori.com), Energize ( www.tryenergize.com), and BioGenetic Laboratories, ( www.biogeneticlabs.com), today announced results for its fiscal third quarter ended September 30, 2016.

Highlights for the third quarter and nine months ended September 30, 2016 include:
  • Total revenue for the third quarter was $5.3 million
  • Net loss for the third quarter was $0.4 million or $0.03 per share.
  • For the nine months ended September 30, total revenue was $21.6 million versus $15.1 million as reported or $14.1 million on an adjusted basis for the first nine months of 2015.
  • Core FitLife revenue for the nine months was $15.5 million, an increase of 10% over the adjusted $14.1 million in the same period a year ago.
  • iSatori contributed $6.2 million in revenue for the nine-month period.
  • Net income for the nine months ended September 30 was $1.5 million or $0.13 per share compared to $0.6 million or $0.07 per share last year.

For the third quarter ended September 30, 2016, total revenue was $5.3 million compared to $6.3 million reported in the third quarter of 2015. As previously announced, 3Q15 revenue included $0.6 million in vendor funded discounts (VFD). Using the same accounting treatment as the third quarter of 2016, revenue in the same period a year ago would have been $5.7 million. Core FitLife revenue during the third quarter was $4.2 million and iSatori contributed $1.1 million. The decline in core FitLife revenue from $5.7 million adjusted revenue last year was primarily attributable to the movement of GNC's franchise convention from the third to the end of the second quarter. As a result, the Company recognized $1.3 million in convention-related revenue in the second quarter 2016, whereas the company did not record any convention-related revenue until the third quarter of 2015.