DELRAY BEACH, FL--(MARKET WIRE)--Apr 30, 2008 -- Celsius Holdings, Inc. (OTC BB: CSUH.OB) today reported revenue of $533,000 for the three months ended March 31, 2008 versus $241,000 for the same period in the previous year, an increase of 121 percent. Gross profit increased from 27.2% of net sales for the first quarter 2007 to 44.0% for the same period in 2008. The company recorded a net loss of $1,181,844 or $0.01 per basic and diluted share. This compares with net loss of $1,118,929 or $0.01 per basic and diluted share for the three months ended March 31, 2007.
Mr. Stephen C. Haley, chairman and CEO said: "We were able to more than double revenue this quarter over first quarter last year, but we expect much more of ourselves. We consider this 'solid revenue,' as there were a high percentage of reorders, but we wanted to and expect to have more growth. Some orders from our northern distributors were delayed because of the harsh winter dampening their overall sales and we had one large retailer delay their new shelf plans until May."
Mr. Haley continued: "We did make some important progress in the first quarter. We have added new distributors and retailers, such as Walgreens in Michigan, Florida, Georgia and Ohio. Our first large export order was shipped in the end of April. We also received commitments from other new retailers and distributors, but the revenue will not be recognized until the second quarter. We remain excited about the potential for Celsius, and our ability to grow this important brand in this emerging beverage category."
The company's quarterly conference call is scheduled for 4:30 p.m. ET Thursday, May 1. 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 each 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 negative calorie 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 in all geographies. The continued mission of Celsius, Inc. is to create healthy refreshment through science and innovation and growth through passion and integrity. Celsius is available through multiple channels including grocery, drug, convenience stores, gyms and nutrition stores. Celsius is proudly carried by fine establishments such as Walgreens, Krogers, Vitamin Shoppe, Raleys, QFC, Hi-Health, Valero Corner Stores, Diamond Shamrock, Hannaford Supermarkets, Heinens, Sweetbay Supermarkets, Meijer, Discount Drug Mart, King Soopers, Dillions, Fry's, Smiths, Gelsons, Demoulas Market Baskets, Bristol Farms and Central Markets. For more information about Celsius and Celsius, Inc., please visit http://www.celsius.com. For investor information, please visit https://www.celsius.com/11-5_Investor_Info.htm.
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 Celsius Holdings' 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 Celsius Holdings' 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 the reports Celsius Holdings files from time to time with the Securities and Exchange Commission. Celsius Holdings does not intend to and undertakes no duty to update the information contained in this press release.
For Further Information, Contact:.
RedChip Companies, Inc.
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