MusclePharm Corporation (OTCQB:MSLP)
Third Quarter Gross Margins Expected to Grow to 34% Compared to Negative Margins in the Same Period of 2009
MusclePharm(NYSE:R) Corporation (OTCBB:MSLP), one of the fastest growing nutritional supplement companies in the United States, announced today their preliminary financial results for the third quarter ending September 30, 2010.
On a preliminary basis, MSLP expects revenues for the third quarter of 2010 to be approximately $1.4 million, compared to revenues of $232,488 for the third quarter of 2009, and revenues of $468,109 for the second quarter of 2010. Gross Margin for the third quarter of 2010 is expected to be 34% or $480,000 compared to a negative gross margin of 6.5% or a loss of $15,139 in the third quarter of 2009. Gross margin for second quarter of 2010 was 22.8%, or $106,859.
MSLP ended the third quarter of 2010 with $897,500 of notes payable. This is a decrease of 48% compared to notes payable of $1,737,500 as of the end of the second quarter of 2010.
Commenting on the preliminary results, Brad Pyatt, Chief Executive Officer said, "We are very pleased with the 300% revenue growth and over 10% margin improvement we achieved during the third quarter. Our expanding product line combined with the rapidly growing online and retail distribution has us well positioned for continued growth in the future."
Mr. Pyatt continued, "The growth of our brand recognition through our relationship with the UFC, MMA and our many sponsored athletes has been a true testament to our superior supplements and the dedication of our management team. However, we will not be satisfied until we have the number 1 product line of NSF and scientifically approved nutritional supplements that are 100% free of any banned substances. Our company was created to address all categories of an active lifestyle including muscle building, weight loss, and maintaining general fitness through a daily nutritional supplement regimen and we believe we have only begun to address this growing market opportunity."
MSLP products are currently available in 1,200 of the top General Nutrition Centers (NYSE:GNC) in the United States, as well as Vitamin Shop, and REFLEX in Canada. MSLP’s award-winning products — Assault, Battle Fuel, Bullet Proof, Combat Powder, Recon and Shred Matrix—are also available online at gnc.com, bodybuilding.com, amazon.com and many other locations.
MSLP’s top management has extensive experience in the sports world and has harnessed this drive and focus into building a business to benefit its customers and help Fuel The Athlete Inside. Headquartered in Aurora, Colorado, MSLP is a fast-growing developer and manufacturer of safe, scientifically approved, nutritional supplements that are free of banned substances and tested by athletes. They are designed to help athletes, bodybuilders, weightlifters and fitness enthusiasts improve their performance. Each and every MSLP product is the end result of an advanced six-stage research and testing protocol involving the expertise of top nutrition scientists. In addition, the products have been field-tested by more than 100 elite professional athletes from the NFL, MMA, MLB and elsewhere. To date, MSLP has developed six products: ASSAULT, BATTLE FUEL, BULLET PROOF, COMBAT POWDER, RECON and SHRED MATRIX. Two additional products are due in stores in 2010. MSLP products offer up to twice as much of the active ingredients per serving as competing products and incorporate a proprietary mix of ingredients not available elsewhere. MSLP was founded in 2008 and is based in Aurora, Colorado.
To learn more about MSLP visit: http://www.musclepharm.com
SAIC, Inc. (NYSE:SAI) announced on October 25, 2010 that it was awarded a prime follow-on contract by the U. S. Department of Defense (DoD), Biometrics Identity Management Agency (BIMA) to continue providing biometric support services to the U.S. Central Command's (USCENTCOM) area of responsibility (NYSEARCA:AOR). The task order has a one year base period of performance, two one year options and a total value of more than $23 million. The task order was awarded under the Biometrics Operations and Support Services-Unrestricted (BOSS-U) contract.
SAIC is a FORTUNE 500® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health.
Tesoro Corporation (NYSE:TSO) has delayed the restart of its 120,000 barrel-per-day (bpd) Anacortes, Washington, refinery, after a boiler unit was damaged over the weekend, according to sources familiar with refinery operations.
A Tesoro spokesman declined to discuss operations at the refinery, which has been shut since a deadly April 2 explosion.
Tesoro Corporation engages in refining and marketing petroleum products. It operates in two segments, Refining and Retail. The Refining segment processes both heavy and light crude oils and produces primarily gasoline and gasoline blendstocks, jet fuel, diesel fuel, and heavy fuel oils.
National Semiconductor Corporation (NYSE:NSM) introduced the industry's first Ser/Des chipset with high-bandwidth digital content protection (HDCP) for automotive infotainment systems. The FPD-Link III chipset supports in-car distribution of protected video and audio content -- such as Blu-ray movies up to 720p resolution -- to create a home theater experience in the vehicle.
National Semiconductor is a leader in power management technology. Known for its easy-to-use analog integrated circuits and world-class supply chain, National's high-performance analog products enable its customers' systems to be more energy efficient.
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