FitLife Brands' fourth quarter 2013 revenue increases 9% to $3.7 million

FitLife Brands, Inc.Mar 31 2014

FitLife Brands, Inc. ("FitLife") (OTCBB:FTLF), an international provider of innovative and proprietary nutritional supplements for health conscious consumers marketed under the brand names NDS Nutrition Products™ ("NDS") (www.ndsnutrition.com), PMD® (www.pmdsports.com), SirenLabs® (www.sirenlabs.com) and CoreActive® (www.coreactivenutrition.com) today announced financial results for the fiscal year ended December 31, 2013.

Highlights for the fourth quarter and full year 2013 included:

• 4Q13 revenue increased 9% to $3.7 million from $3.4 million in 4Q12
• FY13 revenue increased 9% to $19.7 million from $18.1 million in FY12
• FY13 net income was $1.3 million as compared to $1.9 million for FY12, net of the tax benefit
• FY13 and FY12 net income excluding the tax benefit and non-cash expense related to the issuance of equity to certain employees, consultants and directors was $1.7 million and $1.9 million, respectively
• Sales to international locations for the full year ended December 31, 2013 exceeded $1.0 million for the first time ever, representing approximately 6.0% of total revenue
• Recapitalized the Company to simplify the capital structure, reduce the diluted share count and lower the cost of capital
• Cash balance as of December 31, 2013 increased by $2.4 million to $3.3 million from $0.9 million at the same time last year

"2013 was a year of important milestones for FitLife," stated John S. Wilson, Chief Executive Officer of FitLife Brands. "We grew revenue, expanded internationally, launched SirenLabs®, simplified our capital structure, strengthened our balance sheet, changed the Company's name to FitLife Brands, increased our cash position by $2.4 million, and positioned the Company for a future uplisting to a national exchange. Domestic and international market expansion and expanded distribution channel opportunities remain key elements of our long-term growth plan. I am proud of the progress we have made and remain very excited about the opportunities ahead of the Company in 2014 and beyond," concluded Mr. Wilson.