This last Tuesday May 15th, A.L. International, the parent company of Youngevity held their 2012 Q1 Investors call. I have watched this company for years, and without a doubt Steve Wallach has surrounded himself with rock solid leaders, who each bring to this team a special strength which has allowed them to become one of the future legacy companies in direct selling.
Tue May 15, 2012 4:00pm EDT
AL International (JCOF) Releases First Quarter 2012 Results
Revenue Increases 11-Fold as Fully Merged Reporting Company
Company Provides Status on Completion of Audit
AL International (Pink Sheets: JCOF) (www.alintjcof.com), a global direct marketer of lifestyle and nutritional products and services and gourmet coffee, released First Quarter 2012 financial results. In post merger comparisons, the Company reported an 11-fold increase in revenues for the quarter, recording post-merger net sales of $16,478,067, compared to pre-merger sales of $1,454,371 for the same quarter in 2011. The company will host a call on the 15th of May at 4:15ET (1:15PT) to discuss the results.
Gross profits grew to $11,720,567 in Q1 2012, compared to $399,404 for the same period in 2011. First Quarter operating expenses increased to $11,801,821 versus $534,999 in 2011. Onetime expenses for Q1, which were a result of extraordinary annual convention costs and accounting and legal fees related to the audit and Form 10K Filing, were approximately $445,000. AL International recorded income from operations of $(130,818) for Q1 2012 compared to $(135,000) in the same quarter for 2011. Net income less one-time non-reoccurring expenses came in at $314,182. EBITDA for the same period was $321,273, versus a negative ($5,071) for Q1 2011. EBITDA less non-reoccurring expenses would have been $766,273.
Dave Briskie, Chief Financial Officer of AL International, said, “We are very pleased with our performance for the First Quarter of this year. Our strategy is to aggressively drive top-line revenue while maintaining a keen focus on improving EBITDA quarter to quarter. With the high onetime charges of Q1 behind us and with new processes recently implemented to take advantage of the increasing purchasing power now evident in our organization, we anticipate sharp improvement in our bottom line and EBITDA performance in the coming quarters.”
Steve Wallach, Chief Executive Officer of AL International, commented on his optimism with the Company’s results: “The First Quarter was another eventful one for our Company and we are happy with our revenue growth in both our direct selling division (Youngevity) and our coffee division (CLR Roasters). We are continuing to reap the rewards of our vertical integration strategy and the First Quarter delivered more excellent progress toward our goal of driving revenue growth. Our recent 15th Annual Event has driven momentum to our ‘90 for Life’ campaign and we are seeing robust growth in sales of our ‘Beyond Tangy Tangerine’ drink. With the recent doubling of our shipping capacity, we are equipped to support this level of growth and beyond. We look forward to growing our business and creating shareholder value, and will update our investors as we move ahead.”
Join the Conference Call on the 15th of May at 4:15ET (1:15PT):
Investors can participate in the conference call on the 15th of May at 4:15ET (1:15PT) by dialing 800-774-6070 for US callers and 630-691-2753 for international callers, and by entering passcode 9031 089#. It is advised that you dial-in five minutes prior to the call. If you wish to listen to the replay of this conference call, please visit the Investor Relations section of AL International’s website: http://www.alintjcof.com/investors.php.
Audit Completion Update:
The 2010 and 2011 audit is nearing completion, as most areas of the audit are complete. The accounting fieldwork is coming to a close and the primary audit testing phase is now behind the Company. Additional analysis is required to complete the acquisition accounting component of the audit. Once this step is finalized, the Company can wrap up its tax provisions and publish the two-year audit and begin the review process for Q1. The review period for Q1 is a far shorter process, and once completed the Company will file its Form 10K and begin the up-listing process.
About AL International
AL International, Inc. (Pink Sheets: JCOF) (www.alintjcof.com) is a fast-growing, innovative, multi-dimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” The company also is a vertically integrated producer of the finest coffees for the commercial, retail and direct sales channels. AL International was formed after the merger of Youngevity Essential Life Sciences (www.youngevity.com) and Javalution Coffee Company in the summer of 2011.
About Youngevity® Essential Life Sciences
Youngevity Essential Life Sciences (www.Youngevity.com), headquartered in San Diego, CA, is a nutrition and lifestyle-related services company dedicated to promoting vibrant health and flourishing economics. Founded in 1997 by Drs. Joel Wallach, DVM, ND, and Ma Lan, MD, as AL Global, Inc., the company adopted the name Youngevity in 2006. Youngevity is the only network marketing company to have a qualified FDA Health Claim. Dr. Wallach’s work has been published in more than 70 peer-reviewed and referenced scientific journals and books. Youngevity is a wholly-owned subsidiary of AL International, Inc.
About CLR Roasters
CLR Roasters (www.cafelarica.com) was established in 2001 and is a wholly-owned a subsidiary of AL International. CLR Roasters produces coffees under its own Cafe LaRica brand, as well as under a variety of private labels through major national sales outlets and to major customers. It also produces a unique line of coffees with health benefits under the JavaFit® brand.
Safe Harbor Statement
This release includes forward-looking statements on our current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements relating to our business plan and growth strategy through acquisition. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in our forward-looking statements. The information on this conference call is provided only as of the date of this conference call, and we undertake no obligation to update any forward-looking statements contained in this conference call based on new information, future events, or otherwise, except as required by law.
The Investor Relations Group:
Adam Holdsworth, 212-825-3210
Enrique Briz, 212-825-3210