Yesterday after the closing bell, Nexia Holdings announced its unaudited salon gross revenues for the year 2008 which totaled $2,113,943. Landis Salons, Inc., held by Green Endeavors Ltd. (GRNE.PK), a majority owned subsidiary of Nexia, saw revenues grow 4.2% compared to 2007 revenues of $2,025,281.
The Salt Lake City Landis salon recognized revenues of $1,829,381 (unaudited) in 2008, a 2.7% decrease from 2007 revenues of $1,879,798. The Bountiful Landis Salon’s revenues for 2008 were $284,562 (unaudited), an astonishing increase of 48.9% from 2007 revenues of $145,483; this salon was acquired by Nexia during August of 2007.
Richard Surber, President and CEO of Nexia, commented, “I am pleased to report that our salon operations have shown resilience during an economically challenging time. The number of services performed actually increased during 2008. We did see a dip in product sales. We are laying the groundwork for expansion and profitability in 2009 for our salons. More information will be forthcoming as our accounting staff gears up for filing Nexia’s annual report.”
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