Youngevity International Inc (NASDAQ: YGYI) is likely to have a strong day in the market today after the company released its earnings for the third quarter as well as the nine months ending on September 30, 2017. To read the full report, click here! Here are the highlights from the report:
YGYI Reports Q3 Financial Results
As mentioned Youngevity International released its earnings for the third quarter this morning. Here are the key highlights from the report:
- Revenue – In terms of revenue, YGYI did overwhelmingly well in the third quarter., During the quarter, the company generated $44.395 million in revenue. That figure is up 1.9% as compared to $43.562 million generated in the quarter before.
- International Revenue – In the press release, the company said that international revenue in the Direct Selling Division climbed dramatically. In fact, in this particular area, revenue was up by 36% led by Asia.
- Coffee Division Revenue – Revenue in the coffee division also saw dramatic growth, gaining 29.2% year over year.
In a statement, Steve Wallach, CEO and Co-Founder at YGYI had the following to offer with regard to the quarter’s performance:
“I am pleased to see the performance of our international markets contribute to the top line of our direct selling business. We have invested heavily in establishing a global footprint and we believe that we will begin to enjoy returns on these significant investments in the coming quarters. I am equally pleased to see the revenue growth taking place in our Coffee Division, especially the sales success taking place with our Café La Rica™ Brand. We expect the strength of this brand has significant potential to bring shareholder value.”
The above statement was followed up by Dave Briskie, President and CFO at Youngevity International. Here’s what he had to offer:
“We invested heavily in creating a platform that is capable of creating top line revenue growth throughout a number of verticals and in various markets across the globe. We anticipate that we will be able to leverage our platform and drive top line growth. With that said, as we complete 2017 and move through 2018 we will focus on our plans to improve our profitability, expand our liquidity, and strengthen our balance sheet.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on YGYI. In particular, we’re interested in following the growth in international sales as well as the coffee division as the fast paced growth witnessed in Q3 was impressive to say the least. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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