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Medifast Reports Record Sales and Net Income for Fiscal Year 2008
Date:3/12/2009

Record 2008 Revenues: $105.4 million -- Increase of 26%

2008 Diluted EPS: $0.38 vs. $0.28 -- Increase of 36%

Revenue Trending Continuing YTD 2009

OWINGS MILLS, Md., March 12 /PRNewswire-FirstCall/ -- Medifast, Inc. (NYSE: MED) announced today fourth quarter and fiscal year-end financial results for the period ended December 31, 2008.

Fourth Quarter highlights included:

  • Fourth quarter revenues increased 29% compared to 2007;
  • Diluted EPS for the quarter increased 75% to $0.07 versus $0.04 year-over-year;
  • Direct sales segment, Take Shape for Life, increased sales 76% year-over-year for the quarter;
  • Medifast Weight Control Centers quarterly revenues increased 55%

For the fourth quarter ended December 31, 2008, Medifast reported revenue of $25.5 million, a 29% increase from $19.8 million in the fourth quarter of 2007. The Company reported net income of $949,000, or $0.07 per basic and fully diluted share, compared with $601,000, or $0.05 per basic share - $0.04 per diluted share in the fourth quarter of 2007, a diluted EPS increase of 75%.

Fiscal Year highlights included:

  • Fiscal year 2008 Diluted EPS of $0.38 versus $0.28, an increase of 36%;
  • Revenues increase to $105.4 million, an increase of 26%;
  • Take Shape for Life and Medifast Weight Control Centers both experience strong revenue growth; 79% and 68% respectively

For the fiscal year ended December 31, 2008, Medifast reported revenue of $105.4 million, an increase of 26% from $83.8 million for the fiscal year ended December 31, 2007. The Company reported net income of $5.4 million, or $0.41 per
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SOURCE Medifast, Inc.
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