Youngevity International Inc. (YGYI—OTC.QX) on Thursday said revenue rose 3.8 percent to $38.2 million in the first quarter, compared to $36.8 million in the same period last year.
The California-based company sells a range of health, beauty, and home products through its direct selling division, which posted a 10 percent increase in quarterly revenue. Youngevity also is a producer of gourmet coffees sold through commercial, retail and direct selling channels.
In the quarter ended March 31, the company cleared a profit of $151,000, in the black following its year-ago loss of $369,000. Management also reported increases in gross profit, up 15 percent to $23.4 million, and operating income, up 211 percent to $1.2 million.
Steve Wallach, CEO, called the quarter one of the most active and exciting in the company’s history, with the launch of a new social selling platform and expansion into small business lending and merchant services.
Youngevity also strengthened its management team, said Wallach, with the addition of Scott Salik, Vice President of Global Content; Scott Bell, Vice President of Analytics and Promotions; and Scott McElroy, Director of Information Technology and Project Management Operations.
