- Q1 2012 Sales Increased by 270% to $874,272 over Q4 2011
- Q1 2012 Gross profits increased to 74% from 35% over Q4
2011
- Company re-iterates record revenues and profitability in
2012
VANCOUVER, BC and
MESA, AZ, May 30, 2012 /PRNewswire/ - Asantae Holdings
International Inc. (TSXV: JVA, OTC: ASNHF) ("Asantae" or the
"Company"), a producer and marketer of innovative nutritional
products through a network of independent distributors
today announced the filing of its quarterly financial
statements and related management discussion and analysis for the
period ending March 31, 2012, which
are available under the company's profile on SEDAR at
www.sedar.com. All figures are in U.S. dollars and were
prepared in accordance with International Financial Reporting
Standards (IFRS).
A summary of the financial results is below:
Sales for Q1 2012 were $874,272, as compared to $567,788 for Q1 2011 and $324,435 Q4 of 2011 (an increase of 54% and 270%
respectively). The increase in Q1 revenues is largely due to
the launch of the company's new weight-loss product, RealW8™.
Gross Profit for Q1 2012 was $648,325 (74% of Sales) as compared to
$287,760 (51% of Sales) for Q1 of
2011 and $114,587 (35% of Sales) for
Q4 2011. The increase in Gross Margins is a direct result of
improved RealW8™ margins and increased efficiencies in the supply
chain as well as a more favourable sales mix. Essentially,
the company is selling more RealW8™ than lower margin products.
Operating expenses for Q1 2012 were $909,520 as compared to $1,272,120 for Q1 2011 and $1,003,724 for Q4 of 2011. This reduction
in operating expenses was a result of management's strategic
restructuring efforts to reduce overhead and improve
efficiency.
Net comprehensive loss for Q1 2012 was
$269,603 as compared to $983,484 for Q1 2011 and $1,029,964 for Q4 2011.
"We are very pleased with our financial performance in the first
quarter of 2012," stated CEO Dan
Lundell. "This Quarter was the first demonstrable evidence
of the success of our 'Asantae 2.0' re-structuring and represents a
turning point for Asantae. In January we officially launched our
flagship weight loss product RealW8 and the adoption of this
exciting product by our network of independent affiliates has
exceeded our expectations. We are now well positioned for
continued rapid growth and profitability."
Outlook for Second Quarter and Fiscal Year 2012:
Asantae re-iterates guidance for record revenues in fiscal 2012
and profitability in Q2 and beyond.
For additional commentary and analysis, please
refer to the Company's Q1 Management Discussion and Analysis as
filed on SEDAR on May 29, 2012.
About Asantae
Asantae Holdings International Inc. (www.asantae.com) is a producer
and marketer of innovative nutritional products through a network
of independent distributors (Asantae Independent Affiliates).
Asantae's flagship product RealW8™ addresses the primary threat to
public health in the industrialized world; overweight and
obesity. Asantae's approach to this threat is based on a body
of research related to the brain chemistry of addiction, chronic
low-grade inflammation and oxidative stresses which, according to
scientific and medical research, are the underlying conditions for
most modern epidemic diseases (obesity, heart disease, diabetes,
stroke, some cancers, etc.).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements - Certain information in this news
release is forward-looking within the meaning of certain securities
laws, and is subject to important risks, uncertainties and
assumptions. This forward-looking information includes, among
other things, information with respect to the Company's beliefs,
plans, expectations, anticipations, estimates and intentions,
including the listing and trading of the Company's common shares on
the Exchange. The words "may", "could", "should", "would",
"suspect", "outlook", "believe", "anticipate", "estimate",
"expect", "intend", "plan", "target" and similar words and
expressions are used to identify forward-looking information.
The forward-looking information in this news release describes the
Company's expectations as of the date of this news release.
The results or events anticipated or predicted in such
forward-looking information may differ materially from actual
results or events. Material factors which could cause actual
results or events to differ materially from such forward- looking
information include, among others, the Company's ability to develop
new products which will receive market acceptance, to receive
market acceptance in new markets outside the United States, to engage and retain
qualified key personnel, employees and affiliates, to obtain
capital and credit and to protect its intellectual property
rights.
The Company cautions that the foregoing list of material factors
is not exhaustive. When relying on the Company's
forward-looking information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. The Company has assumed a
certain progression, which may not be realized. It has also
assumed that the material factors referred to in the previous
paragraph will not cause such forward-looking information to differ
materially from actual results or events. However, the list
of these factors is not exhaustive and is subject to change and
there can be no assurance that such assumptions will reflect the
actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON
FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS
INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY
PARTICULAR TIME.
SOURCE Asantae Holdings International, Inc