- Management to Host Conference Call Today at 11:30 a.m. ET -
DENVER, May 1 /PRNewswire-FirstCall/ -- XELR8 Holdings, Inc. (Amex:
BZI), a provider of liquid nutritional, functional foods, beverages and
nutritional supplements, today announced its financial results for three
months ended March 31, 2008.
Financial and operational highlights for First Quarter of Fiscal 2008:
-- Revenue increased 138% over prior year period to $1.6 million
-- Gross profit was $1.2 million, an improvement of $0.6 million from one
-- Cash and cash equivalents were $2.5 million as of March 31, 2008
Total revenue for the first quarter ended March 31, 2008 was $1.6 million, an 82% increase compared to total revenue of $0.9 million for the fiscal year ended March 31, 2007. Gross profit grew to $1.2 million for the three months ended March 31, 2008, up 115% from $0.6 million in the prior year period. Gross margin in the quarter was 77%, an improvement of 12%, from 65% 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 March 31, 2008, decreased 43% to $0.75 million, or $(0.05) per share, compared to a loss of $1.4 million, or $(0.13) per share, in the prior year.
The Company's balance sheet continues to remain strong. As of March 31, 2008, cash and cash equivalents were approximately $2.5 million, which includes the proceeds from the $0.5 million financing completed during the quarter. Total shareholders' equity at the three months ended March 31, 2008 was $2.2 million and the Company remains debt free.
Mr. John Pougnet, Chief Executive Officer of XELR8, commented, "I am
pleased to report another record revenue quarter. Bazi continues to gain
traction in the marketplace and showed major improvements partially due to
our successful gathering of distributors in February at our national event
|SOURCE XELR8 Holdings, Inc.|
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