DNA Brands Inc., producers of DNA Energy Drinks® and DNA Meat Snacks, today announced its financial results for the three and nine months ended Sept. 30, 2011.
The company reported revenues of $467,337 for the third quarter of 2011, a significant increase compared to revenues of $165,151 reported for the comparable quarter of 2010. Nine-month revenues for the period ended Sept. 30, 2011, were $1.15 million, a 22 percent increase over revenues in the same period of 2010.
Loss per share for the third quarter of 2011 was $(0.02) compared to a loss of $(0.08) for the third quarter of last year. For the nine-month period ended Sept. 30, 2011, the company reported a loss per share of $(0.08) compared to a loss of $(0.25) for the comparable nine months of the year prior.
DNA Brands highlighted achievements over the last year, noting that gross margins have increased to 46.1 percent compared to 32.0 percent in the first quarter of 2011.
The company introduced its DNA Diet CRANRAZBERRY, as well as a new taco flavored meat product this year, and entered into a new promotional agreement with the Miami Dolphins. It also expanded its retail distribution to include more than 800 Walgreens locations.
“We continue to make significant progress in expanding the DNA brand, increasing revenues, improving gross margins while at the same time carefully managing expenses and our liquidity. We remain focused on our objective of attaining profitable operations and on increasing shareholder value,” Darren Marks, DNA’s CEO stated in the press release.
Mel Leiner, DNA’s executive vice president, summarized recent expansion efforts and what the company anticipates moving through 2012.
“During 2011 we have expanded our presence in Florida and geographically to include California and Wisconsin. We are very excited by the results achieved last quarter while only commanding 10 percent of the points-of-distribution (POD) available to us,” Leiner stated. “We are confident that our goal of 50 percent plus POD penetration will be achieved in 2012. Our long term goal is for DNA to be a national brand. Our intermediate goal is to replicate the Florida program in 10 markets with similar demographics as Florida by 2014. Additionally, I am encouraged by our progress and response of first time and ongoing users of DNA products.”
For more information, visit www.dnabrandsusa.com
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