Youngevity International, an omni-direct lifestyle company based in Chula Vista, California, recently announced financial results for the first quarter ended March 31, 2018.
Revenues increased 11.0 percent over the prior year. Direct selling sales were up 6.2 percent and commercial coffee revenues up 39.9 percent over prior year.
“We are pleased to see revenue growth for both segments in the first quarter,” said Steve Wallach, chairman and CEO of Youngevity. “Our international markets are beginning to contribute more significantly to overall revenue lead by top-line growth coming from Asia. We believe this overall growth is sustainable in the coming quarters.”
Youngevity sells product types ranging from nutritional formulas, gourmet coffees, and most notably body related such as supplements.
The president and CFO of Youngevity, Dave Briskie, added, “We have been focused on the fundamentals as we entered 2018. We feel we made significant progress by improving adjusted EBITDA and strengthening our balance sheet as well. The recent financing and debt conversion contributed significantly to the improvement in our Stockholders’ Equity and will help reduce borrowing costs in the coming quarters.”
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