Youngevity International Inc (NASDAQ: YGYI) has some big news that just broke. The company published second quarter results, and those results were positive to say the least. Today, we’ll talk about what we saw from the report and what we’ll be watching for ahead.
YGYI Publishes Second Quarter Earnings
As mentioned above, Youngevity International is likely to have a strong day in the market today after releasing overwhelmingly positive first quarter results. Here are the key points released with the results…
- Top-Line Revenue – YGYI did incredibly well when it comes to top line revenue. In fact, the company saw an increase of $2.8 million in revenue from the first quarter of the year.
- Direct Selling – Much of the revenue growth came from the direct selling segment of the company. In fact, on the direct selling side, YGYI said its revenue increased by 6.9% over the first quarter.
- Coffee Revenue – On the CLR Roasters side of the coin, things proved to be just as positive. The company said that its coffee segment revenues increased by 9.1% in the second quarter, compared to the first quarter.
- EBITDA – Finally, EBITDA came in at $745 thousand for the quarter. This proved to be overwhelmingly positive as in the first quarter, the company posted a loss of $1.24 million.
In a statement, Steve Wallach, CEO and co-Founder at YGYI, had the following to offer…
“We are encouraged to see our revenue and adjusted EBITDA bounce back from the levels achieved in the last two quarters. A 7.2% revenue increase over last quarter and a nearly $2 million improvement in adjusted EBITDA over the last quarter is certainly a move in the right direction. As our plans for international growth gain traction we anticipate a return to quarter over prior quarter growth.”
The above statement was followed up by Youngevity International’s President and CFO, Dave Briskie, who had the following to offer…
“Following the fourth quarter of 2016 and the first quarter of 2017 which we felt were lackluster our executive team has refocused and increased its commitment toward driving consolidated revenue growth, strengthening our adjusted EBITDA, accelerating our international sales, and driving top line revenue growth for our coffee segment. In the second quarter, we made solid progress in each of these key metrics and we will be measuring our performance in these areas in the coming quarters with an expectation of continued progress for the remainder of 2017 and into 2018.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on YGYI. In particular, we’re interested in following the growth in both the direct sales and coffee segments as things are definitely picking up when looking at the report. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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