AL International, Inc. (JCOF) Announces Fourth Quarter and Fiscal Year 2012 Results
Shareholder Conference Call 4:15 PM EST
For the year ended December 31, 2012, AL International's consolidated revenue increased approximately 84% to $75.0 million compared to $40.7 million for the year ended December 31, 2011. The increase in revenue is attributed primarily to the increase in our product offerings and the number of distributors and customers resulting from our acquisitions during 2011, the effect of a new marketing campaign, and growth of the CLR Roasters private label business.
Al International's gross profit for the full year of fiscal 2012 increased 77% to $43.8 million compared to $24.7 million recorded in the prior fiscal year. Operating expenses decreased 75% to $44.1 million compared to $176.2 million for the year ended December 31, 2011. The decrease was primarily attributed to the goodwill impairment expense of $151.4 million recorded in connection with the reverse merger in July 2011. Net of the goodwill impairment, the operating expense for the year ended December 31, 2011 was $24,432,000, and the change to the year ended December 31, 2012 was an approximate 81% increase, which includes an increase of $684,000 in amortization expense of acquired intangible assets, and $1,130,000 in non-cash expense related to the increase in contingent acquisition liabilities.
At December 31, 2012 we had cash and cash equivalents of approximately $3.0 million and working capital of $1.4 million compared to cash and cash equivalents of $1.4 million and a working capital deficit of $101,000 as of December 31, 2011. The increase in cash and improvement in working capital was due to increased revenues and gross profit.
Our net cash provided by operating activities for the year ended December 31, 2012 was $3.6 million compared to $520,000 for the year ended December 31, 2011. The increase in operating cash flow was due to more efficient inventory management and improvements in earnings.
The Company reported a net loss available to common stockholders of $442,000, compared to a net loss available to common stockholders of $152.3 million for the year ended December 31, 2011. The improvement was due primarily to a decrease in impairment-related charges, and an improvement in gross margins.
The Company reported a 39% increase in total revenues for the fourth quarter of fiscal 2012, recording net sales of $19.2 million compared to $13.8 million for the fourth quarter in fiscal 2011. Gross profit for the fourth quarter of fiscal 2012 increased approximately 45% to $11.3 million compared to $7.8 million for the same quarter in 2011. AL International reported net income available to common stockholders of $151,000 in the fourth quarter of fiscal 2012 versus a net loss available to common stockholders of $548,000 for the same quarter for 2011.
"We are very encouraged with our continued improvement in profitability quarter over quarter. Pre-tax profits, excluding the $1,130,000 in non-cash expense related to the increase in contingent acquisition liabilities and $690,000 in other income related to the reduction of a note payable, more than doubled from Q3 to Q4 to $674,000," said Dave Briskie, CFO of AL International, Inc.
Conference Call Information
AL International will host a conference call today at 4:15 p.m. Eastern Time to discuss its financial results, quarterly highlights and business outlook. Investors can access the conference call by dialing Toll: +1 (609) 318-0024 and entering the access code: 307-730-091. It is advised that you dial-in at least five minutes prior to the call.
The conference call will be recorded and available for replay shortly after the conclusion of the call. Recorded calls are available in the Investor Relations section of AL International's website: http://www.alintjcof.com/investors.php
About AL International
AL International, Inc. (OTC Pink: JCOF) (www.alintjcof.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a "network of networks." The Company also is a vertically-integrated producer of the finest coffees for the commercial, retail and direct sales channels. AL International was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com) and Javalution Coffee Company in the summer of 2011.
About Youngevity Essential Life Sciences
Youngevity® Essential Life Sciences (www.youngevity.com), headquartered in San Diego, CA, is a nutrition and lifestyle-related services company dedicated to promoting vibrant health and flourishing economics. Founded in 1997 by Drs. Joel Wallach, DVM, ND, and Ma Lan, MD, as AL Global, Inc., the Company adopted the name Youngevity in 2006. Youngevity® is the only direct selling company to have a qualified FDA Health Claim. Dr. Wallach's work has been published in more than 70 peer-reviewed and referenced scientific journals and books.
About CLR Roasters
CLR Roasters (www.clrroasters.com) was established in 2001 and is a wholly-owned a subsidiary of AL International. CLR Roasters produces coffees under its own Cafe LaRica brand, as well as under a variety of private labels through major national sales outlets and to major customers. It also produces a unique line of coffees with health benefits under the JavaFit® brand.
Safe Harbor Statement
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," "encouraged" and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release based on new information, future events, or otherwise, except as required by law.
AL International, Investor Relations
800-982-3189 X 6509
KEYWORDS: United States North America California
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