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Celsius Holdings Reports Increased Revenue 2nd Quarter Revenue Increased 166%
Date:8/11/2008

DELRAY BEACH, Fla., Aug. 11 /PRNewswire-FirstCall/ -- Celsius Holdings, Inc. (OTC Bulletin Board: CSUH.OB) reported net sales today for the three month period ending June 30, 2008 of $1.0 million -- a substantial increase as compared to $376,000 for the three month period ending June 30, 2007. The company also reported a net loss of $916,000 (or $0.01 per basic and diluted share) for the three months ending June 30, 2007. This compares with net loss of $726,000 (or $0.01 per basic and diluted share) for the three months ending June 30, 2007.

Mr. Stephen C. Haley, Chairman and CEO of Celsius Holdings, Inc., commented, "We are pleased with the increase in net sales, which mainly resulted from a large international export order. We did see US growth from additional points of distribution as well as increased reorders from our established retailers.

"Operationally," Mr. Haley continued, "we focused on increasing our shelf presence within some key retail partners, and we were able to gain additional important retailers in our target areas. We increased our footprint in several Walgreens' districts and added a few Florida divisions of CVS in the drug channel. We added key grocers, including HEB in Texas as well as Bloom in North Carolina. As we gained enough account distribution in focus geographies, we were able to begin local marketing efforts through media such as radio."

Mr. Haley continued by stating: "Gross Margins were impacted in several ways compared to the first quarter of this year. Our cost of raw materials and the high percentage of international revenue forced margins lower. This was offset to a lesser extent by a higher mix of cans versus bottles. Predicting international revenue is still difficult as we are not in total control of each country's regulatory approval timeline. Where we launch in an international region with localized packaging, the orders will be sizable and can have material impact on top line revenue as well as margins."

The company's quarterly conference call is scheduled for 4:30 p.m. EDT, Thursday, August 14, 2008. The call may be accessed through live webcast links on the company's Internet home page, http://www.celsius.com . The webcast will be archived and available on the company's website for one month following the call.

About Celsius Holdings, Inc.

Celsius Holdings, Inc. (OTC Bulletin Board: CSUH.OB) markets Celsius(R), the original, great-tasting calorie burner backed by science through its wholly owned operating subsidiary, Celsius, Inc. Celsius, Inc. is dedicated to providing a healthier, daily refreshment through science and innovation. Information about Celsius Holdings, Inc. is available on our website. More information about Celsius, the original, great-tasting calorie burner, is available at http://www.celsius.com .

Forward-looking Statements

This press release may contain statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of Celsius Holdings' future results of operations and/or financial position, or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," "would," or similar words. You should not rely on forward-looking statements since Celsius Holdings' actual results may differ materially from those indicated by forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations affecting our business; and other risks and uncertainties discussed in the reports Celsius Holdings files from time to time with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.

Contact Info:

Jan Norelid, 866-4-CELSIUS, jnorelid@celsius.com

Celsius Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

June 30, December 31,

ASSETS 2008 2007

(unaudited)

Current assets $1,031,000 $1,158,093

Long-term note receivable 1,000,000 1,250,000

Other long-term assets 166,829 125,037

Total Assets $2,197,829 $2,533,130

LIABILITIES AND STOCKHOLDERS' DEFICIT

Current liabilities $2,487,346 $2,808,732

Convertible note payable, net of debt discount 1,298,242 1,314,914

Other liabilities 30,747 14,236

Total Liabilities 3,816,335 4,137,882

Stockholders' Deficit: (1,618,506) (1,604,752)

Total Liabilities and Stockholders' Deficit 2,197,829 $2,533,130

Condensed Consolidated Statements of Operations

Three-month Period

Ending June 30,

2008 2007

(Unaudited) (Unaudited)

Net sales $1,000,109 $375,668

Cost of sales 631,321 301,661

Gross profit 368,788 74,007

Selling and marketing expenses 705,135 372,915

General and administrative expenses 423,492 377,755

Loss from operations (759,839) (676,663)

Interest expense, net 156,580 49,621

Net loss $(916,419) $(726,284)

Weighted average shares outstanding -

basic and diluted 123,126,449 101,377,081

Loss per share - basic and diluted $(0.01) $(0.01)

Condensed Consolidated Statements of Operations

Six-month Period

Ending June 30,

2008 2007

(Unaudited) (Unaudited)

Net sales $1,533,491 $617,058

Cost of sales 930,216 476,739

Gross profit 603,275 140,319

Selling and marketing expenses 1,553,351 717,599

General and administrative expenses 888,397 687,407

Contract termination expense - 500,000

Loss from operations (1,838,473) (1,764,687)

Interest expense, net 259,790 80,526

Net loss $(2,098,263) $(1,845,213)

Weighted average shares outstanding -

basic and diluted 115,691,540 96,509,146

Loss per share - basic and diluted $(0.02) $(0.02)


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SOURCE Celsius Holdings, Inc.
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