ORLANDO, FL — (Marketwire) — 11/14/11 — XYMOGEN today released its 2011 third-quarter financial results. Revenues of $10.38 million catapulted XYMOGEN over its $10 million mark for a quarter. This represents a 25% increase over the Q-3 2010 revenues of $8.31 million. “We are delighted with our record-setting third-quarter performance,” said President and Chief Executive Officer Brian Blackburn. “Sales increases for Q-3 may be attributed to our most successful event ever, the June 24-26 XYMOGEN XPERIENCE in New York with nearly 200 attendees. The extraordinary response to the Evans-Burdette National Seminar Series and the continued success of our Quarterly Product Launches (QPL) continue to be the primary drivers of our growth.”
Considerable investments in its International Initiative caused a drop in EBIDTA from $798K in Q-3 2010 to $412K for Q-3 2011. Scott Bukow, VP International Development for XYMOGEN, has fast-tracked product registration for the Canadian market with several approved formulas for Q-4 sales in Canada. Bukow has leveraged his 14 years of relationships with international distributors to reach agreements for distribution of XYMOGEN formulas in several additional countries. 2012 promises to be a “banner year” for international expansion.
XYMOGEN-s 2011 nine-month sales (January-September) were $29.55 million compared to $24.22 million for the same period last year. This represents a $5.33 million or 22% increase in revenues. Based on the May 2011 issue of the Nutrition Business Journal, the practitioner channel grew 7% in 2010. XYMOGEN-s 30% growth in 2010 and its 22% increase to date for 2011 illustrate how XYMOGEN continues to outperform this business sector.
Through September 30, 2011, XYMOGEN has generated in excess of $3.5 million in investments in 2011. “The success of XYMOGEN-s 2011 private offering of stock has been a critical component in supporting our growth initiatives. We are most grateful to all investors for their trust and confidence in our XYMOGEN team,” said Blackburn. “XYMOGEN-s continued growth, coupled with the capital gains exclusion which applies to stock shares purchased prior to January 1, 2012, will make this a very astute investment decision.”
XYMOGEN has over a quarter century of experience in providing quality professional supplements to healthcare practitioners. As an independent health sciences company, XYMOGEN has introduced numerous innovations to the Functional Medicine community. XYMOGEN-s place as the fastest-growing company and brand in the practitioner channel was reinforced in 2007, 2008, 2010, and 2011, when it was recognized by Inc. magazine as one of the Inc. 500/5000 fastest-growing private companies in America.
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