JRjr33, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Reports Impairment of Goodwill for the Quarter Ended March 31, 2016
September 15, 2016 at 09:04 am IST
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JRjr33, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenue of $36,846,000 against $19,488,000 a year ago. The increase was primarily due to a full quarter of Betterware and Kleeneze included in 2016. Net revenues were $30,944,000 against $16,263,000 a year ago. Operating loss was $3,162,000 against $3,615,000 a year ago. Loss before income tax provision was $3,991,000 against $3,844,000 a year ago. Net loss attributable to the company was $4,472,000 or $0.12 per basic and diluted share against $3,647,000 or $0.12 per basic and diluted share a year ago.
For the quarter, the company reported impairment of goodwill of $191,000.
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.
JRjr33, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Reports Impairment of Goodwill for the Quarter Ended March 31, 2016