Youngevity International Inc. (YGYI—OTCQX) on Thursday said revenue rose 10 percent to a record $42.5 million in the second quarter, compared to $38.7 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 accounted for 87 percent of quarterly sales. Youngevity is also a producer of gourmet coffees sold through commercial, retail and direct selling channels.
Management said about 4 percent of revenue growth in the quarter resulted from new acquisitions, a strategy that continued earlier this week with the acquisition of Renew Interests LLC, which includes the SOZO Global and Integris brands.
“While we intend to continue to expand our distributor base, we also intend to remain diligent in identifying additional products, either developed internally or through acquisitions, which quarter after quarter has proven to be an increasingly predictable and sustainable business model,” said Davie Briskie, Youngevity President and CFO.
In the quarter ended June 30, the company posted a loss of $109,000, compared with a year-ago loss of $408,000. Adjusted EBITDA was $2.6 million, compared to $3.3 million a year earlier. Gross profit rose 7 percent from the prior-year period to $25.4 million.