Youngevity International gives their revenue numbers for Q3 2016, and they are very impressive if you ask me.
If you don’t know what this company is about, go ahead and read my Youngevity review.
For a quick background of Youngevity, they are a global network marketing company that have physical products and services.
They are mainly a nutritional based company that has products ranging from vitamins, juices to healthy coffee and supplements.
Their moto is “Delivering nutritional and healthy lifestyle solutions to help people live younger, longer”.
Highlights From Third Quarter Revenue in 2016
- Revenues increased 5.4% over the prior year period to $43.5 million;
- Gross Profit increased 5.3% to $26.4 million compared to the prior year period;
- Coffee Segment records significant improvement in gross profit and operating margins.
Steve Wallach, who is the CEO of Youngevity says the following:
We are excited to report record revenue for the third quarter 2016. We continue to see improved sales and customer growth in the United States and our international markets,” stated Steve Wallach, Chief Executive Officer of Youngevity International. He continued, “I was proud to see the significant improvements derived from our coffee segment as this business continues to scale.”
“The third quarter typically represents a slower selling season, however, our diversified revenue model was able to deliver record quarterly revenue to our top line,” said Dave Briskie, President and Chief Financial Officer of Youngevity International. He continued, “We were pleased to see our distributors evolving their sales organizations toward broader based consumption through our diversified platform of products and services.
Financial Results For Third Quarter 2016
Alright let’s take a look what Youngevity is excited about…
In the last three months leading towards September 30th, 2016, Youngevity’s total revenue increased by 5.4% to a whopping $43.5 million which is a bit higher compared to $41.3 million in 2015 around the same time.
About 89% of these sales came from distributors selling the products and 11% came from commercial coffee sales.
Overall the gross profit for the third quarter increased to 26.4 million compared to 25 million last year which is a 5.3% increase.
General and administrative expenses increased by 7% which is $4.5 million compared to same time period last year.
This was mostly due to the fact that Youngevity has been expanding in other countries which in turn increases labor costs, amortization costs, computer related costs, travel costs etc.
Because of the massive expansion of Youngevity, their net income has decreased significantly…
Last year around the same time, they made $416,000 where this year they made $67,000.
Now this is reported, I am sure they actually made more 😉
Youngevity Financial Reports Third Quarter 2016 – Verdict
It looks like Youngevity is headed towards the right direction with the increased total sales…
Yes, they did make a lot less in net income due to the fact that they are expanding rapidly into other countries which costs a ton of money, but in the long term it will definitely pay off.
Anyway, I hope you enjoyed this blog post and if you have any questions, leave them in the comments below.
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