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MusclePharm Corporation (OTCQB:MSLP)
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, the Company 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.
The Company 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."
MSLP, one of the fastest growing nutritional supplement companies in the United States, announced today that Canada's fastest growing sports and wellness retailer, REFLEX, has recently began to carry MSLP products in all 21 of their locations with 4 more under construction.
"We are excited to have the opportunity to expand MusclePharm's retail presence in Canada with REFLEX," commented Brad Pyatt, MSLP's Chief Executive Officer. "Our products continue to resonate well with consumers and we look forward to working with REFLEX in our future targeted healthy living and wellness marketing campaigns to further increase MusclePharm's brand awareness and product sales."
MSLP products are currently carried in over 150 GNC Canada Locations and will now be available in all 21 REFLEX locations.
"We are extremely happy about our partnership with MusclePharm and are looking forward to big things for both ourselves and MusclePharm this year," commented Derek Carey, President of REFLEX. "We are a very big supporter of the UFC and will be doing large advertising and promotional campaigns in conjunction with MusclePharm during the upcoming UFC events in Canada."
A123 Systems, Inc. (NasdaqGM: AONE) a developer and manufacturer of advanced Nanophosphate (NYSE:TM) lithium ion batteries and systems,reported recently that it will release its third quarter 2010 financial results for the period ended September 30, 2010 after the market close on Tuesday, November 9, 2010. On that day, management will hold a conference call and webcast at 5:00 p.m. ET to review and discuss the Company's results for the third quarter. A recorded version of this webcast will be available two hours after the call and accessible at http://ir.a123systems.com/.
A123 Systems, Inc., together with its subsidiaries, engages in the design, development, manufacture, and sale of rechargeable lithium-ion batteries and battery systems primarily in the United States. Its batteries and battery systems are based on its Nanophosphate technology for application development in the transportation, electric grid services, and consumer markets. The company also offers its products worldwide.
FormFactor Inc. (NasdaqGS: FORM) announced the appointment of Edward Rogas, Jr. as a member of the company's Board of Directors. Mr. Rogas' considerable experience in the semiconductor equipment industry further strengthens the board's technology and industry expertise. Mr. Rogas held management positions at Teradyne, Inc. for over 30 years, including serving as Sr. Vice President from 2000 through 2005. He currently serves on the Boards of Vitesse Semiconductor Corporation and Vignani Technologies Pvt Ltd.
FormFactor, Inc. engages in the design, development, manufacture, sale, and support of semiconductor wafer probe card products and solutions based on MicroSpring interconnect technology. Its wafer probe cards are used by semiconductor manufacturers to perform wafer sort and test on the semiconductor die, chips, or the whole semiconductor wafer in the front end of the semiconductor manufacturing process.
Arris Group Inc. (NasdaqGS: ARRS)reported the preliminary and unaudited financial results for the third quarter 2010. Revenues in the third quarter 2010 were $274.3 million, as compared to third quarter 2009 revenues of $275.8 million and compared to second quarter 2010 revenues of$280.4 million. Through the first three quarters of 2010 and 2009, revenues were $821.3 million and $807.8 million, respectively. Adjusted net income (a non-GAAP measure) in the third quarter 2010 was $0.19 per diluted share, compared to $0.25 per diluted share for the third quarter 2009 and $0.24per diluted share for the second quarter of 2010. Year to date, adjusted net income was$0.67 per diluted share for 2010 as compared to $0.69 per diluted share in 2009.
ARRIS Group, Inc. develops, manufactures, and supplies telephony, data, video, construction, rebuild, and maintenance equipment for the broadband communications industry worldwide. It operates in three segments: Broadband Communications Systems (NYSE:BCS); Access, Transport, & Supplies (ATS); and Media & Communications Systems (NYSE:MCS).
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