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Medifast Announces Year-end 2007 Financial Results
Date:3/12/2008

S OF INCOME

Years Ended December 31,

(Restated) (Restated)

2007 2006 2005

Revenue $83,779,000 $74,086,000 $40,129,000

Cost of sales (21,464,000) (18,237,000) (10,161,000)

Gross profit 62,315,000 55,849,000 29,968,000

Selling, general, and

administration (56,600,000) (48,468,000) (26,419,000)

Income from operations 5,715,000 7,381,000 3,549,000

Other income (expense):

Interest expense (387,000) (369,000) (317,000)

Interest income 105,000 175,000 158,000

Other income 110,000 276,000 15,000

(172,000) 82,000 (144,000)

Income before provision for income

taxes 5,543,000 7,463,000 3,405,000

Provision for income taxes (1,706,000) (2,307,000) (1,002,000)

Net income 3,837,000 5,156,000 2,403,000

Less: Preferred stock dividend

requirement - - (291,000)

Net income attributable to common

shareholders $3,837,000 $5,156,000 $2,112,000

Basic earnings per share $0.30 $0.41 $0.17

Diluted earnings per share $0.28 $0.38 $0.17

Weighted average shares outstanding -

Basic 12,960,930 12,699,066 12,258,734

Diluted 13,644,149 13,482,894 12,780,959

Contact: Brendan Connors Lytham Partners, LLC


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SOURCE Medifast, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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