Bond Labs Reports Record 1st Quarter Results
Bond Labs Reports Record 1st Quarter Results
Quarterly Revenue Exceeds $6 Million
OMAHA, Neb.--(BUSINESS WIRE)-- Bond Laboratories, Inc. (OTCBB:BNLB) ("Bond Labs"), an international provider of innovative and proprietary nutritional supplements for health conscious consumers, announces significant continued revenue growth and positive net income for the first quarter. Revenue for the three months ended March 31, 2013 was $6.1 million as compared to $5.0 million for the comparable period last year, an increase of 22.3%. Net income for the three months ended March 31, 2013 was $0.6 million as compared to $0.7 million for the comparable period in 2012. Excluding non-cash charges related to the issuance of common stock to certain employees and consultants for the fair value of services rendered, adjusted net income for the quarter ended March 31, 2013 increased 28.4% to $0.9 million from $0.7 million for the comparable quarter ended March 31, 2012. The increase in adjusted net income, while partially offset by higher selling and marketing costs principally related to ongoing international expansion efforts, was driven by both increased sales volume and improved gross margin.
"Quarterly revenue exceeded $6 million for the first time in the history of the company. Moreover, shipments to international GNC® franchise locations increased significantly during the quarter," commented John S. Wilson, Chief Executive Officer of Bond Labs. "Our continued focus on launching innovative and highly effective products remains a key driver of our success and ongoing growth. I anticipate that international sales will represent a greater portion of total sales for the quarters and years ahead, and remain very excited about the current state and future prospects for the business," concluded Mr. Wilson.
About Bond Labs
Bond Laboratories is a manufacturer of innovative and proprietary nutritional supplements for health conscious consumers. The Company produces and markets products through its NDS Nutrition division. NDS' products number over 50 brands of energy, sports, and dietary supplements. These products are sold directly through specialty health and nutrition retailers, and are included among the top-selling products at GNC® franchises. Bond Labs is headquartered in Omaha, Nebraska. For more information, please visit http://www.bond-labs.com.
Safe Harbor
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
Surety Financial Group, LLC
Bruce Weinstein, 410-833-0078
KEYWORDS: United States North America Nebraska
INDUSTRY KEYWORDS:
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