Revenue Grows at AL International; Firm Reports LossFriday, August 17, 2012
AL International, holding company for Youngevity Essential Life Sciences, reported a second quarter net loss of $261,000 compared with a net loss of $96,000 for the same quarter of 2011.
Revenue for the quarter increased 121 percent to $18.9 million, up from $8.56 million in the same quarter of last year.
CEO Steve Wallach said the company’s strong second quarter improved the cash position, increasing to $3.1 million from the $1.2 million in the prior year.
“As we continue to drive top-line revenue, we believe we will see cost efficiencies that will have a positive impact to the bottom line for our shareholders,” Wallach said.
The company makes nutritional and other health food products, selling them through direct sales channels.
Shares of ALI, traded on the Pink Sheets exchange under JCOF.PK, closed up 2 cents Aug. 16 to 24 cents. Its 52 week range is 18 to 35 cents.