Makeup.com is as the name implies: an online provider of â€œexclusive, hard-to-findâ€ cosmetics, perfumes, skin care and other beauty products. The company today announced its year-end financial results for the 12 months ended December 31, 2008, reflecting solid growth and improvement.
Revenues for the year increased $176,998, or 35 percent, to $683,185, as compared to $506,187 for the 2007. Gross profit surged 116 percent to $242,968, up from $112,374 reported for the year ended December 2007. Net loss for the year ended 2008 was $1,195,894, as compared to a net loss of $1,470,145 for fiscal 2007, representing a $274,251 improvement.
“We are very pleased to report another year of strong growth and improved financial results. Although 2008 had many economic challenges, we were able to increase revenue, improve profit margins and lower expenses.” Robert Rook, CEO and president of makeup.com stated in the press releases.
Rook accredits the gains to efficient advertising and increased brand awareness, as well as an enhanced online presence and customer newsletter.
“The increase in our sales was primarily due to more effective promotional programs, additional product selection, navigational improvements to the Web site and better product branding,â€ Rook stated. â€œWe expect programs we presently have in place such as search engine optimization, which is designed to increase traffic to our Web site, Web-related advertising, customer purchasing incentives, informative beauty tips and bi-monthly customer newsletters to contribute to a steady increase in our revenues over the next year.”
The company also announced efforts to better serve its shareholders and to attract new investors, recruiting the service of Barwicki Investor Relations, which has a database of 73,000 money, fund and portfolio managers and hedge funds, as well as 92,000 stock brokers and 54,000 individual investors.
“I am pleased to announce we are initiating an investor relations program. The objective with respect to our investor relations efforts will be to increase public awareness of Makeup.com among institutional and individual investors. During the past few years, we have built a business and have expanded the products and services we can provide, all of which makes this the right time to send our message to the investment community. We have retained Barwicki Investor Relations Co. to handle our investor relations efforts,” Rook concluded.