XELR8 Holdings, Inc. Announces Fourth Quarter and 2008 Annual Financi...(period one year ago due to increased sal...),Health

Date:3/31/2009

period one year ago, due to increased sales of Bazi, which carries a higher gross margin compared to the legacy products. Net loss for the year ended December 31, 2008, decreased 35% to $2.1 million, or $(0.14) per share, compared to a loss of $3.2 million, or $(0.23) per share, in the prior year period.

John Pougnet, XELR8 Holdings CEO said, "We are very pleased to report record sales numbers for the year, with both large increases in sales and gross profit margins from 2007. Our operating plan for 2009 is focused on the continued growth and market penetration of Bazi(TM), and increasing the number of independent distributors and customers, growing revenues, and generating gross profits."

"Our increase in sales reflect the continued growth of our Bazi product. Bazi represented 92% of sales for the year ended December 31, 2008. We feel that through our continued incentive and bonus programs offered to our distributors, Bazi sales will continue to grow strongly in 2009. The number of distributors continues to grow, and we continue to see no reason why that should not continue in the upcoming year. As we move forward into 2009, we believe we will move closer to achieving our goal of achieving positive cash flow, as well as increasing shareholder value," concluded Mr. Pougnet.

FINANCIAL TABLES TO FOLLOW

About XELR8 Holdings, Inc.

XELR8 Holdings, Inc. is a provider of nutritional foods and beverages designed to help enhance physical health and overall performance. XELR8 has developed a comprehensive line of nutritional supplements and functional foods designed in systems that are easy to take, simple to understand, and conveniently fit within a lifestyle. XELR8's primary product is Bazi(TM), a powerful, concentrated, antioxidant (Vitamins A, C & E) nutritional drink packed with eight different super fruits and berries, including the Chinese jujube, the South American Acai Berry,
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SOURCE XELR8 Holdings, Inc. Copyright©2009 PR Newswire. All rights reserved

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