DENVER, Oct. 10, 2011 /PRNewswire/ -- MusclePharm Corporation, a Nevada corporation ("MusclePharm" or the "Company") (OTCBB: MSLP), an expanding U.S. nutritional supplement company, is pleased to announce MusclePharm's preliminary financial results for the third quarter ending September 30, 2011.
On a preliminary basis, the Company expects unaudited gross revenues for the three months ended September 30, 2011 of approximately $5,700,000, an increase of 305% as compared to gross revenues of $1,409,016 during the corresponding three month period ended September 30, 2010. The company sales for the first nine months of 2011 are approximately $13,000,000, which is an increase of 325%, compared to all of 2010 sales of $4,000,000.
Commenting on the preliminary results, Brad Pyatt, Chief Executive Officer said, "We are extremely pleased with our enormous revenue growth we experienced during the third quarter of 2011. Our expanding product line and distribution combined with our brand recognition positions us for accelerated growth over the coming months."
Mr. Pyatt continued, "The recent additions of COO John Bluher and President Jeremy Deleuca speak volumes on the long term direction of the company and what we are striving to build at MusclePharm. Both these two proven professionals are amazing assets to our company and will add tremendous stability and overall structure as we gear up for continued growth."
The Company expects to report a small net operating loss and a loss associated with convertible financing derivatives for the three months ended September 30, 2011.
ABOUT MUSCLEPHARM CORPORATION
Headquartered in Denver, Colorado, MusclePharm is a healthy life-style company that develops and manufactures a full line of NSF and Informed Choice approved nutritional supplements that are free of banned substances. Based on years of research at the MusclePharm Sports Science Center, the products are crea
|SOURCE MusclePharm Corporation|
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