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

Common stock; par value

$.001 per share; 20,000,000

authorized; 14,332,210 and

13,709,098 shares issued and

outstanding, respectively 14,000 14,000

Additional paid-in capital 29,870,000 26,953,000

Accumulated other comprehensive

income (209,000) 321,000

Retained earnings 14,304,000 9,818,000

43,979,000 37,106,000

Less: cost of 286,478 and 270,534

shares of common stock in treasury,

respectively (2,013,000) (1,971,000)

Less: unearned compensation (4,947,000) (2,715,000)

Total Stockholders' Equity 37,019,000 32,420,000

TOTAL LIABILITIES AND

STOCKHOLDERS' EQUITY $49,376,000 $43,724,000

MEDIFAST, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

Three Months Ended Nine Months Ended

September 30, September 30,

2008 2007 2008 2007

Revenue $27,281,000 $21,846,000 $79,987,000 $63,975,000

Cost of sales 6,522,000 5,523,000 19,299,000 15,944,000

Gross Profit 20,759,000 16,323,000 60,688,000 48,031,000

Selling, general, and

administration 18,363,000 14,766,000 53,820,000 43,116,000

Income from operations 2,396,000 1,557,000 6,868,000 4,915,000

Other income/(expense)

Interest expense,

net (50,000) (159,000) (159,000) (284,000)


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

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