Bond Labs Achieves Turnaround; Generating Record 2011 Results
January 31 2012 - 10:00AM
Business Wire
Bond Laboratories, Inc. (OTCBB:BNLB), a national provider of
innovative and proprietary nutritional supplements for health
conscious consumers marketed primarily through its wholly owned
operating division, NDS Nutrition Products (“NDS”), today announced
preliminary results from operations for the year ended December 31,
2011 capping an exciting year marked by numerous significant
achievements. Key milestones include:
- Posted record revenue of $12.1 million
for the year ended December 31, 2011 as compared to $8.1 million
for the year ended December 31, 2010, an increase of $4 million or
48.4%.
- Achieved positive net income of almost
$600,000 and cash provided by operations of more than $100,000 for
the period ended December 31, 2011, as compared to a net loss of
$3.2 million and cash used in operations of $1.9 million for the
year ended December 31, 2010. These milestones are particularly
noteworthy for the Company, which had never before posted
profitable annual results or similarly generated positive cash flow
from operations.
- Ended the year debt-free other than its
existing credit line, which the Company expanded but did not draw
down on during the year.
- Managed to dramatically grow revenue,
expand its distribution footprint, eliminate debt, and maintain its
track record of innovation with the introduction of many exciting
new products without raising any additional equity or debt capital
during the year.
“2011 has been a transformational year for Bond Labs as we
continue to execute our strategy and focus on our vision of
providing our customers with innovative and highly-effective
solutions for weight-loss, general nutrition and sports performance
that consistently exceed expectations,” stated John Wilson, Bond
Labs’ Chief Executive Officer. “Achieving profitability was an
important milestone for Bond Labs as we seek to build on our recent
success made possible by an intensely brand-loyal and expanding
customer base. I am excited about the future of our industry with
an emphasis on Bond Labs’ role and position in the approximately
$24B annual domestic market for nutritional supplements. I look
forward to continuing our growth trend through both domestic and
international expansion in 2012, and remain extremely excited about
the Company’s prospects for the year ahead,” concluded Mr.
Wilson.
The results referenced herein are unaudited, preliminary and
remain subject to potential adjustment. Final audited financial
results will be included in our Annual Report on Form 10-K for the
year ended December 31, 2011, which will be filed with the
Securities and Exchange Commission on or before March 30, 2012.
About Bond Labs
Bond Laboratories is a manufacturer of innovative nutritional
supplements. The Company produces and markets products through its
NDS Nutrition division. NDS’ products number over 50 brands of
energy, sports and dietary supplements. These products are sold
directly through specialty health and nutrition retailers,
including top-selling products at GNC® franchises. Bond Labs is
headquartered in Omaha, Nebraska. For more information, please
visit http://www.bond-labs.com.
Forward-Looking Statement:
Statements in this release that are
forward looking involve known and unknown risks
and uncertainties, which may cause the
Company’s actual results in future periods to
be materially different from any
future performance that may be suggested in this
news release. Such factors may include, but are not limited
to: the ability to of the Company to continue to grow revenue; the
Company’s ability to continue to achieve positive cash flow given
the Company's existing and anticipated operating and other costs;
and the outcome of the Company’s pending litigation with the U.S.
Department of Labor and our former President alleging violations of
certain unlawful employment practices in connection with his
separation from the Company. Many of these risks and uncertainties
are beyond the Company's control.
Reference is made to the discussion of risk
factors detailed in The Company’s filings with the
Securities and Exchange Commission, including its reports on Form
10-K and 10-Q. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the dates
on which they are made.