SANTA
MONICA, Calif., Nov. 20, 2013 /CNW/ - 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.