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XELR8 Holdings, Inc. Announces Fourth Quarter and 2008 Annual Financial Results
Date:3/31/2009

- 53% Increase in Net Sales as compared to last year

- 65% Increase in Gross Profit as compared to last year

DENVER, March 31 /PRNewswire-FirstCall/ -- XELR8 Holdings, Inc. (OTC Bulletin Board: XELR), a provider of functional foods, beverages and nutritional supplements, announced today its 2008 Financial results for the year ended December 31, 2008.

Financial and operational highlights for fourth quarter and year ended December 31, 2008:

-- Revenues increased 25% in the fourth quarter and 53% for the year ended December 31, 2008

-- Gross profit was $1.1 million in the fourth quarter and $5.7 million for the year ended December 31, 2008, improvements of 30% and 65% respectively compared to same periods one year ago

-- Cash and cash equivalents were $1.6 million as of December 31, 2008

Total revenue for the fourth quarter ended December 31, 2008 was $1.45 million, a 25% increase compared to total revenue of $1.17 million for the fourth quarter ended December 31, 2007. Gross profit grew to $1.1 million for the three months ended December 31, 2008, up 30% from $0.8 million in the prior year period. Gross margin in the quarter was 79%, an improvement from 69% in the same quarter one year ago, due to increased sales of Bazi, which carries a higher gross margin compared to the legacy products. Net loss for the three months ended December 31, 2008, decreased 47% to $0.34 million, or $(0.03) per share, compared to a loss of $0.64 million, or $(0.04) per share, in the prior year.

Total revenue for the year ended December 31, 2008 was approximately $7.4 million, an increase of 53% compared to total revenue of $4.9 million for the year ended December 31, 2007. Gross profit improved to $5.7 million for the year ended December 31, 2008, up 65% from $3.5 million in the prior year period. Gross margin for the year was 77%, an improvement from 72% in the same
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SOURCE XELR8 Holdings, Inc.
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