Bond Labs reports record Q1 results

Revenue for the three months ended March 31, 2013 was $6.1 million as compared to $5.0 million for the comparable period last year, an increase of 22.3%. Net income for the three months ended March 31, 2013 was $0.6 million as compared to $0.7 million for the comparable period in 2012.

Excluding non-cash charges related to the issuance of common stock to certain employees and consultants for the fair value of services rendered, adjusted net income for the quarter ended March 31, 2013 increased 28.4% to $0.9 million from $0.7 million for the comparable quarter ended March 31, 2012.

The increase in adjusted net income, while partially offset by higher selling and marketing costs principally related to ongoing international expansion efforts, was driven by both increased sales volume and improved gross margin.

"Quarterly revenue exceeded $6 million for the first time in the history of the company. Moreover, shipments to international GNC® franchise locations increased significantly during the quarter," commented John S. Wilson, Chief Executive Officer of Bond Labs. "Our continued focus on launching innovative and highly effective products remains a key driver of our success and ongoing growth. I anticipate that international sales will represent a greater portion of total sales for the quarters and years ahead, and remain very excited about the current state and future prospects for the business," concluded Mr. Wilson.