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 created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than one hundred elite professional athletes from various professional sports leagues including the National Football League, Mixed Martial Arts, and Major League Baseball. The Company's products address all categories of an active lifestyle, including muscle building, weight loss and maintaining general fitness through a daily nutritional supplement regimen. MusclePharm is sold in over 120 countries and available in over 5,000 U.S. retail outlets, including GNC and Vitamin Shoppe, and Vitamin World. MusclePharm products are also sold in over 100 online stores, including bodybuilding.com, Amazon.com and Vitacost.com. For more information, please visit www.musclepharm.com.
FORWARD LOOKING STATEMENTS
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
|SOURCE MusclePharm Corporation|
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