JRjr33, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
December 06, 2016 at 07:04 pm EST
Share
JRjr33, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported revenue of $36.414 million against $36.954 million a year ago. Net revenues were $30.122 million against $30.475 million a year ago. Operating loss was $4.506 million against $3.278 million a year ago. Loss before income tax provision was $5.536 million against $3.843 million a year ago. Net loss attributable to the company was $4.617 million against $3.022 million a year ago. Loss per basic and diluted share attributable to common stockholders was $0.13 against $0.09 a year ago. Adjusted LBITDA was $2.375 million against $0.971 million a year ago. The operating loss increased in the second quarter due to a decrease in the gross profit as well as an increase in operating expenses of approximately $1.1 million due to the addition of Betterware. The EBITDA loss increased in the second quarter for the same reasons as the operating loss, a decrease in gross profit and an increase in operating expenses due to the addition of Betterware.
For the six months, the company reported revenue of $72.489 million against $55.906 million a year ago. Net revenues were $60.295 million against $47.782 million a year ago. Operating loss was $11.334 million against $7.473 million a year ago. Loss before income tax provision was $13.193 million against $8.445 million a year ago. Net loss attributable to the company was $11.387 million against $7.145 million a year ago. Loss per basic and diluted share attributable to common stockholders was $0.32 against $0.22 a year ago. Adjusted LBITDA was $6.306 million against $4.141 million a year ago.
JRjr33, Inc. (JRJR), formerly CVSL Inc., offers a platform of direct-to-consumer brands. The Company operates through the segments, which include Gourmet Food, Nutritional and Wellness, Home Decor, Publishing and Printing, and Other. The Gourmet Food Products segment consists of operations related to the production and sale of hand-crafted spices, oils and other food products from around the world. The Home Decor segment consists of operations related to the production and sale of premium hand-crafted baskets, and the selling of products for the home, including pottery, cleaning, health, beauty, home, outdoor and customizable vinyl expressions for display. The Nutritionals and Wellness segment consists of operations related to the selling of nutritional supplements and skin care products. The Publishing and Printing Segment consists of the operations of Happenings Communications Group, Inc. and Paperly, Inc. The Other Segment consists of the operations of Tomboy Tools, Inc.