RBC Life Sciences, Inc. (OTCQB: RBCL), a provider of proprietary nutritional supplements, and wound care and pain management products, today reported consolidated net sales of $28.4 million for the year ended December 31, 2011, a 1% increase over 2010 consolidated net sales of $28.2 million. For the year ended December 31, 2011, the Company reported a net loss of $71,000, or $0.00 per diluted share, compared to net earnings of $558,000, or $0.02 per diluted share, during 2010.
"During 2011, we experienced significant sales growth in our Associate network channel. Sales increased 45% while new Associate recruiting increased 75% compared to 2010. In May 2011, we launched a new dietary supplement product, Stem-Kine™, which, along with the expansion of our business in Southeast Asia, accounted for much of the sales growth," said RBC Life Sciences President and CEO, Clinton H. Howard. "The net loss for the year resulted mainly from investments we made in a new branch office in Taiwan, which opened October 1, 2011, and a decline in our international licensee sales."
Stem-Kine is a dietary supplement that has been shown in published human clinical studies to nutritionally enable bone marrow and other stem-cell-producing tissues, which form the natural repair and renewal system of the body, to increase their production of stem cells. The Company distributes Stem-Kine under an exclusive license agreement that covers the U.S. and 41 other countries.
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