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November 01, 2012

Financial News

Financial News, November 2012

AL International

AL International (JCOF—OTC.BB), a global direct marketer of lifestyle and nutritional products and gourmet fortified coffee, released second quarter 2012 financial results. The company reported a 121 percent increase in revenues for the quarter, recording net sales of $18.94 million, compared to $8.56 million for the same quarter in 2011.

Gross profits increased to $10.75 million in Q1 2012, compared to $5.29 million for the same period in 2011. First quarter operating expenses increased to $10.74 million, versus $5.28 million for the same period in 2011. AL International recorded income from operations of $5,000 for Q2 2012, compared to $8,000 in 2011. The company reported a net loss of $261,000 with $472,000 in EBITDA in the second quarter, versus a net loss of $96,000 with $175,000 in EBITDA for the same quarter for 2011.

In other company news, AL International announced the successful completion of the audit of its financial statements for the two years ended Dec. 31, 2011 and 2010. The audit was performed by an independent CPA firm registered with the PCAOB (Public Company Accounting Oversight Board).

The audited financial statements include the operating results and financial position of the company and its wholly owned subsidiaries AL Global Corp., CLR Roasters LLC, Financial Destination Inc., FDI Management Inc., MoneyTrax LLC, Youngevity Australia Pty. Ltd. and Youngevity NZ Ltd. The audit also covers the company’s non-controlling interest in AL Corporation Holding Pte. Ltd. and DrinkAct Southeast Asia Inc.

As of Dec. 31, 2011, the company’s audited Consolidated Balance Sheet reported total stockholders’ equity of approximately $9.08 million, an increase of approximately $2.01 million as compared to the company’s previously announced unaudited statements.

AL International Inc. is an innovative, multidimensional company that offers a wide range of consumer products and services, primarily through person-to-person selling relationships that comprise a “network of networks.” AL International was formed after the merger of Youngevity Essential Life Sciences and Javalution Coffee Company in the summer of 2011.

Just Energy Group Inc.

Just Energy Group Inc. (JE—NYSE and JE—TSX) reports first quarter results for the three months ended June 30, 2012.

The company forecasted higher published guidance for gross margin and Adjusted EBITDA growth for fiscal 2013 than what was achieved for fiscal 2012, and the first quarter evidenced this resurgence in the company’s growth.

Gross margin was $114.3 million, up 21 percent (19 percent per share).

Adjusted EBITDA was $42.3 million, up 13 percent (11 percent per share), reflecting earnings before marketing expenditures to add new gross margin.

Funds from Operations was $2.1 million, versus $24.9 million in Q1, fiscal 2012, as all cash from operations was used to fund higher than expected customer additions and faster than expected growth of the Momentis network marketing division. Adjusted Funds from Operations was $29.2 million.

First quarter results are ahead of the published annual guidance of 10 percent to 12 percent growth in gross margin (21 percent to date) and 8 percent to 10 percent growth in Adjusted EBITDA (13 percent to date).

At the same time the company’s core business was growing at a rapid rate, a number of investments in new growth channels were made during the quarter. The most significant of these was the investment in the Momentis network marketing division. A year ago, Momentis had 5,000 independent representatives. At June 30, 2012, the total had reached 66,000, up 18,200 in the past three months.

Just Energy Group Inc. also filed notice with the Toronto Stock Exchange and the New York Stock Exchange announcing its October dividend. A dividend of CAN$0.10333/common share (CAN$1.24 annually) was payable Oct. 31, 2012, to shareholders of record at the close of business on Oct. 15, 2012. This dividend is designated as an “eligible dividend” for Canadian income tax purposes.

Just Energy also reports that at Sept. 30, 2012, the conversion price for each CAN$1,000 of its outstanding 6 percent convertible unsecured subordinated debenture issued on Oct. 2, 2007, has been adjusted in accordance with the Trust Indenture dated Oct. 2, 2007, as supplemented from time to time, to CAN$27.82 convertible into 35.95 common shares of Just Energy Group Inc.

Established in 1997, Just Energy is primarily a competitive retailer of natural gas and electricity. It is the parent company of direct seller Momentis.

LifeVantage Corp.

LifeVantage Corp. (LFVN—NASDAQ), a science-based nutraceutical company and maker of patented dietary supplement Protandim®, the Nrf2 Synergizer®, reported financial results for the fourth quarter ended June 30, 2012.

For the fourth fiscal quarter ended June 30, 2012, the company reported record net revenue of $44.6 million, compared to $15.0 million for the same period in fiscal 2011, an increase of 197 percent. On a sequential quarter basis, net revenue increased 23 percent from the $36.2 million reported for the company’s 2012 third fiscal quarter ended March 31, 2012.

Gross profit for the fourth fiscal quarter ended June 30, 2012, increased to $38.2 million, compared to $12.9 million for the same period last year, delivering a gross margin of 85.6 percent, compared to 85.9 percent for the prior year period.

Operating expenses for the fiscal year 2012 fourth quarter increased to $30.8 million from $11.0 million for the prior year period, but decreased as a percent of revenue to 69.1 percent for the fiscal year 2012 fourth quarter, compared to 72.9 percent of revenue for the same period last year. On a sequential quarter basis, operating expenses as a percentage of revenue increased slightly from 68.5 percent in the third fiscal quarter.

Operating income improved to $7.3 million for the fourth fiscal quarter, compared to $2.0 million in the same period last year and $6.4 million in the third fiscal quarter. This was the company’s eighth consecutive quarter of achieving operating income. Operating income margin was 16.5 percent in the fourth fiscal quarter, compared to 13.0 percent in the same period last year and 17.7 percent in the third fiscal quarter.

Net Income for the fourth quarter of fiscal year 2012 was $4.8 million, or 4 cents per diluted share. This compares to a net loss in the fourth quarter of fiscal year 2011 of $47.2 million, or 56 cents per diluted share.

The company also announced that its common stock has been approved for listing on The Nasdaq Capital Market. Shares of LifeVantage’s common stock commenced trading on the Nasdaq Capital Market under its current ticker symbol “LFVN,” at market opening on Sept. 12, 2012.

Prior to the listing of its common stock on the Nasdaq Capital Market, LifeVantage’s common stock was traded on the OTC Bulletin Board.

LifeVantage is a leader in Nrf2 science and sells wellness and anti-aging products to reduce oxidative stress at the cellular level. The company was founded in 2003 and is headquartered in Salt Lake City.

RBC Life Sciences Inc.

RBC Life Sciences Inc. (RBCL—OTC.BB) products, reported consolidated net sales of $6.5 million for the quarter ended June 30, 2012, compared to $7.5 million for the second quarter of 2011. For the quarter, the company reported net earnings of $23,120, or zero cents per share, compared to net earnings of $17,030, or zero cents per share, for the same quarter in 2011.

Through wholly owned subsidiaries, RBC Life Sciences develops, markets and distributes high-quality nutritional supplements and personal care products under its RBC Life brand to a growing population of consumers seeking wellness and a healthy lifestyle.

Tupperware Brands Corp.

Tupperware Brands Corp. (TUP—NYSE) announced that its board of directors declared the company’s regular quarterly dividend of 36 cents per share, payable on Oct. 5, 2012, to shareholders of record as of Sept. 19, 2012.

Tupperware Brands Corp. is a portfolio of global direct selling companies, selling innovative, premium products across multiple brands and categories through an independent salesforce of 2.7 million.

Direct Selling News has accumulated this information from public sources, including press releases and SEC filings. The information is presumed accurate and reliable. However, it is not an endorsement of any investment opportunity. Proper and considerable due diligence should be completed before making any investment.