SANTA MONICA, Calif.,
Nov. 20, 2013 /PRNewswire/ --
BOLDFACE Group, Inc. (OTCQB: BLBK), a celebrity beauty licensing
and branding company ("BOLDFACE" or the "Company") founded by
beauty industry veterans focused on top tier entertainment and
designer brands for opportunities in the beauty, fragrance and
personal care markets, is pleased to update its shareholders on the
Company's financial results and highlights for its first quarter
2014 ended September 30, 2013.
(Logo:
http://photos.prnewswire.com/prnh/20130715/LA46982LOGO)
Highlights for the quarter and last twelve months ended ("LTM")
September 30, 2013 include:
- First quarter 2014 gross revenues of $1.552 million and net revenues of $1.269 million, compared to the Company having no
revenues in the first quarter 2013. LTM gross and net revenues of
$8.218 million and $6.600 million,
respectively.
- First quarter 2014 gross profit of $0.512 million or 40% of net revenues, including
$0.050 million of inventory reserves
for future write-offs. Gross profit was depressed due to the
associated costs with the re-labeling and rebranding of existing
inventory to Kardashian Beauty™.
- GAAP net loss / (gain) of $0.791
million or $0.01 per fully
diluted share for the quarter, including non-cash expenses of
$0.209 million in stock-based
compensation expense / shares issued for services and non-operating
expense / (gain) including $(0.871)
million for derivative liability gains.
- Successful launch of our Kardashian Beauty™ products in
Australian markets at exclusive retailers MeccaMaxima and Kit
Cosmetics.
"To date, our holiday sales of Kardashian Beauty™ products have
been incredibly strong with exclusive holiday items in Ulta Beauty
and a diverse offering in CVS, Duane
Reade, Fred Meyer, Meijer and
many other of our retail partners," said Nicole Ostoya, CEO of BOLDFACE, "The consumer
reaction has been equally as strong as our social media following
has shown a lot of love for our products. Our results reflect
an enthusiasm for Kardashian Beauty™ products and the current
success of operational controls within the Company. As we
turn the corner to spring, we look forward to sharing new product
concepts and new items to get that coveted Kardashian Beauty™
look."
About BOLDFACE
BOLDFACE is a Santa Monica,
California based celebrity beauty licensing and branding
company founded by beauty industry veterans Nicole Ostoya and Robin
Coe-Hutshing. BOLDFACE currently sells cosmetics and beauty
products under the Kardashian Beauty™ brand, and is in the process
of developing fragrance and men's grooming products by Mario Lopez and beauty and personal care
products by UGLYDOLL™. Please visit www.boldfacegroup.com for
further information.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. Any forward-looking statements contained herein are
based on current expectations, but are subject to a number of risks
and uncertainties. Factors that could cause actual future results
to differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the availability of
additional funding, and the Company's business, product
development, marketing and distribution plans and strategies. These
and other factors are identified and described in more detail in
the Company's filings with the United States Securities and
Exchange Commission, including the Company's Current Reports on
Form 8-K. The Company does not undertake to update these
forward-looking statements.
Website: http://www.boldfacegroup.com
SOURCE BOLDFACE Group, Inc.