Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

As Seen On TV, Inc. (ASTV) Achieves Record Q3, Nine-Month Sales

|Includes: As Seen On TV, Inc. (ASTV)

As Seen On TV, the parent company of direct response marketing company TV Goods, today reported third-quarter results reflecting the company's increased product commercialization and growth strategies.

The company achieved record revenues of $5.8 million, an increase of 124 percent compared to revenues of $2.6 million in the comparable quarter of 2011.

ASTV reported a quarterly loss of $15.1 million, or $0.38 per share, compared to net income of $2.25 million, or $0.09 per share, a year earlier.

Third-quarter gross profit margin was 52 percent, up from 46 percent a year earlier.

For the first nine months of fiscal year 2012 ended December 31, 2012, ASTV reported revenues of $6.9 million, an increase of 105 percent over revenues of $3.4 million in for the comparable nine months of the year prior.

The net loss for the nine-month period of 2012 was $13.7 million, or a loss of $0.39 per share, deeper than a loss of $10.2 million, or $0.62 per share, in same nine months of 2011.

Gross profit margin of 44 percent was realized in the first nine months of 2012, up from 43 percent a year earlier.

As previously announced, ASTV has entered into an agreement to acquire eDiets.com, Inc. in a stock transaction. The terms of the agreement provide for the issuance of 19,077,252 shares of ASTV common stock in exchange for 100% of the outstanding shares. The eDiets shareholder meeting called to approve the merger is on tap for February 27, 2013.

For more information go to TVGoodsInc.com and AsSeenOnTV.com

Please see disclaimer on the QualityStocks website: disclaimer.qualitystocks.net