Wednesday October 24, 3:24 pm ET
DELRAY BEACH, FL--(MARKET WIRE)--Oct 24, 2007 -- Celsius Holdings, Inc. (the "Company") (OTC BB: CSUH.OB) today reported revenue for the three month period ended September 30, 2007 was $508,000 as compared to $376,000 for the prior quarter, the three month period ended June 30, 2007 and as compared to $414,000 for the three month period ended September 30, 2006. The Company also reported a net loss of $784,000 or $0.01 per basic and diluted share for the three months ended September 30, 2007. This compares with net loss of $418,000 or $0.01 per basic and diluted share for the three months ended September 30, 2006.
Mr. Stephen C. Haley, chairman and CEO, said: "We are pleased to announce that we are seeing much more activity around our brand and have been successful in placing Celsius in many new retailers during the last few months. The revenue included more high profile retailers as well as significant reorders from multiple channels, grocery, convenience and health & fitness. The increase was not huge yet but the 'quality' of the revenue was high."
"Operationally," Mr. Haley said, "with our growing sales force and distribution coverage, our revenue is becoming more predictable. With this we have been able to get our gross margin back up to close to where we believe it should be. With more revenue, better forecasts and better purchasing leverage our gross profit was over 47% in the quarter."
Mr. Haley continued by stating, "We are pleased that the registration statement required under our stock purchase agreement with Fusion Capital has been declared effective by the Securities and Exchange Commission and we have started to get our financing from this source. Since October 16 we have sold Fusion Capital shares totaling $300,000. This will give us the possibility to more actively market our products and should show positive results to our revenue growth."
The company's quarterly conference call is scheduled for 4:30 p.m. ET, Thursday October 25, 2007. The call may be accessed through live webcast links on the company's Internet home page, www.celsius.com. The webcast will be archived and available on the company's website for one month following the call.
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (OTC BB: CSUH.OB) manufactures Celsius through its wholly owned operating subsidiary, Celsius, Inc. Celsius, Inc. is quickly gaining attention in the emerging $36 billion functional food and beverage industry, as the creator of the calorie burning beverage category and as a pioneer and leader in developing healthier beverage choices. Celsius, Inc. is building unique distribution strategies to gain broad penetration in all channels serving its consumer targets. The continued mission of Celsius, Inc. is to create healthy refreshment through science and innovation and growth through passion and integrity. For more information about Celsius and Celsius, Inc., please visit http://www.celsius.com. For investor information, please visit http://www.redchip.com.
Forward-Looking Statements
This press release may contain statements, which are not historical facts and are considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements contain projections of the Company's future results of operations, financial position or state other forward-looking information. In some cases you can identify these statements by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words. You should not rely on forward-looking statements because the Company's actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to: general economic and business conditions; our business strategy for expanding our presence in our industry; anticipated trends in our financial condition and results of operation; the impact of competition and technology change; existing and future regulations effecting our business, and other risks and uncertainties discussed in reports the Company files from time to time with the Securities and Exchange Commission. The Company does not intend to and undertakes no duty to update the information contained in this press release.
For Further Information, Contact:
RedChip Companies, Inc.
541 S. Orlando Avenue, Suite 206, Orlando, FL 32751, (800) 733-2447,
Fax: (407) 644-0758, info@redchip.com
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