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Medifast Diversified Business Model Drives Strong Revenue and Earnings Growth for the Third Quarter of 2008
Date:11/6/2008

Take Shape For Life Sales Increase by 99% Year-over-Year; Represents 50% of

Sales

Diluted EPS Increases by 57% for the Quarter

3rd Consecutive Quarter of 25% Revenue Growth

OWINGS MILLS, Md., Nov. 6 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED) announced today third quarter financial results for the period ended September 30, 2008.

Financial highlights included:

-- Third quarter revenues increased 25% compared to 2007;

-- Diluted EPS for the quarter increased 57% to $0.11 versus $0.07 year-

over-year;

-- Direct sales segment, Take Shape for Life, increased sales 99% year-

over-year;

-- Medifast Weight Control Centers quarterly revenues increased 77%

-- Current ratio of 2.5 to 1

-- 36th consecutive quarter of profitability

For the third quarter Medifast reported revenue of $27.3 million, a 25% increase from $21.8 million in the third quarter of 2007. The Company reported net income of $1.5 million, or $0.11 per basic share and $0.11 per fully diluted share, compared with $1 million, or $0.07 per basic and diluted share in the third quarter of 2007.

For the nine months ended September 30, 2008, Medifast reported revenue of $80 million, an increase of 25% from $64 million for the nine months ended September 30, 2007. The Company reported net income of $4.5 million, or $0.34 per basic share and $0.32 per fully diluted share, versus $3.2 million, or $0.25 per basis share and $0.24 per fully diluted share, in 2007.

"We are extremely pleased with the financial results of the third quarter, particularly the positive trending we are continuing to see into the months of September a
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SOURCE Medifast, Inc.
Copyright©2008 PR Newswire.
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