Bond Labs Reports 2ndQuarter and YTD Results
Impressive Domestic and International Growth Trends Continue
OMAHA, Neb.--(BUSINESS WIRE)-- Bond Laboratories, Inc. (OTCBB:BNLB) ("Bond Labs"), a national provider of innovative and proprietary nutritional supplements for health conscious consumers, today announced significant continued core business revenue growth and positive net income for the second fiscal quarter and year-to-date results.
Revenue for the three months ended June 30, 2013 was $5.1 million as compared to $5.2 million for the comparable period in 2012, a decrease of 2.3%. Revenue for the six months ended June 30, 2013 was $11.1 million as compared to $10.1 million for the comparable period in 2012, an increase of 9.7%. Revenue for the three and six month periods ended June 30, 2012 included $0.8 million and $1.6 million of non-recurring revenue, respectively, primarily related to the sell through of certain products containing DMAA, an established and widely used ingredient that experienced increased scrutiny from the FDA. Excluding non-recurring revenue related to products containing DMAA that were reformulated during 2012, revenue for the three and six month periods ended June 30, 2013 increased 14.5% and 30.7%, respectively, as compared to the comparable periods in 2012.
Net income for the three and six month periods ended June 30, 2013 was $0.5 million and $1.1 million, respectively, as compared to $0.8 million and $1.5 million, respectively, for the comparable periods in 2012. In addition to approximately $0.3 million of incremental non-cash issuance costs incurred during the first half of 2013 over the comparable period in 2012 and the impact of the non-recurring DMAA activity from 2012, net income for the three and six months periods ended June 30, 2013 reflect ongoing investment by the Company to enhance its sales and marketing efforts, which management believes will drive future domestic and international growth.
During the six month period ended June 30, 2013, Bond Labs generated $1.5 million of cash flow from operations as compared to $0.3 million for the comparable six-month period ended June 30, 2012.
"With the recent introduction of our new SirenLabs line, Bond Labs now boasts three high-quality product lines exclusive to the GNC franchise system: NDS, PMD Sports Nutrition and SirenLabs. Strong brand awareness, a high-quality reputation and commitment to providing our customers with innovative and truly differentiated solutions continue to be the primary drivers behind our success both domestically and internationally," stated John S. Wilson, Chief Executive Officer of Bond Labs. "International expansion remains a critical element of our future growth plan. We now sell a subset of our total product portfolio in eight of the approximately fifty countries with GNC locations. Our growth strategy is focused on both expanding the number of countries in Bond Labs' distribution footprint as well as increasing the average number of SKUs sold through each country. It is truly an exciting time at the company and I look forward to continuing to execute our growth plan to expand the business and create shareholder value," 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 60 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.
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
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