Celsius Holdings, Inc. announced that revenues for the first quarter of this year nearly doubled from the previous yearâ€™s total of $533,000 to $971,000. The company also told investors today that during the period operations resulted in a net loss of $1.2 million, or $0.01 per basic and diluted share, which equaled the reported amount of the same period last year.
Mr. Stephen C. Haley, chairman and CEO stated, â€œWe continue to see improved sales from most parts of the country, especially in our focus areas. We added several key retailers and distributors this quarter and the reorders from established customers continue to increase. Gross margins remain in the 44% range.â€
Mr. Haley added, â€œWe increased our marketing investment to build the brand with most of the increase targeted into areas where we have the widest distribution. While increasing the marketing investment, we reduced our G & A expenses year over year. We will continue our efforts to keep overhead low in order to put available capital into marketing.â€
Investors are invited to participate in the company’s quarterly conference call at 4:30 p.m. ET on Thursday, May 7. The call can be accessed through live webcast links on the company’s internet home page, http://www.celsius.com. The webcast will be archived and available on the company’s website for one month following the call.