JRjr33, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
January 04, 2017 at 02:31 am IST
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JRjr33, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $34,100,000 compared to $36,954,000 a year ago. Net revenues were $28,497,000 compared to $31,116,000 a year ago. Operating loss was $4,125,000 compared to $4,401,000 a year ago. Loss before income tax was $5,676,000 compared to $4,967,000 a year ago. Net loss attributable to the company was $4,698,000 or $0.13 per basic and diluted share compared to $3,895,000 or $0.11 per basic and diluted share a year ago. Adjusted LBITDA was $1,677,000 compared to $1,664,000 a year ago. The operating loss decreased in the third quarter due to a decrease in the gross profit which was a result of lower profit margins. The net loss increased as a result of the increase in operating losses as well as the increase in interest expense as a result of the company taking on additional debt in quarter four of last year as well as $859,000 in late filing penalties to Dominion.
For the nine months, the company reported revenue of $106,589,000 compared to $91,915,000 a year ago. Net revenues were $88,793,000 compared to $79,774,000 a year ago. Operating loss was $15,458,000 compared to $11,130,000 a year ago. Loss before income tax was $18,868,000 compared to $10,226,000 a year ago. Net loss attributable to the company was $16,085,000 or $0.45 per basic and diluted share compared to $7,647,000 or $0.23 per basic and diluted share a year ago. Adjusted LBITDA was $7,982,000 compared to $2,386,000 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.