Skinny Nutritional Corp.
3 Bala Plaza East, Ste. 101
Bala Cynwyd, PA 19004
610-784-2000 ext. 103
FOR IMMEDIATE RELEASE
Skinny Nutritional Corp. Approaches One Million Cases Sold
Improvement represents an increase 71% over the same period in 2009
Press Release Source: Skinny Nutritional Corp. On Tuesday April 19, 2011
BALA CYNWYD, PA -- (Marketwire - 04/19/11) - SKINNY NUTRITIONAL CORP. (OTC.BB.SKNY – NEWS), today announced net revenues of $6,927,108 (net of slotting fees of $349,490 and billbacks of $1,129,007) for the year ended December 31, 2010. This represents an increase of $2,781,042 or 67% over revenues of $4,146,066 for the year ended December 31, 2009. The Company sold approximately 990,000 cases of Skinny Water® for the year ended December 31, 2010 compared to approximately 580,000 cases for the same period in 2009, an increase of 71%, (1 case = twelve 16 ounce bottles).
These increases are primarily due to the introduction of Skinny Water Sport®, the upgrade of our distribution network in certain territories and the influence of new distributors and new chain authorizations. Skinny Water is now sold through 47 distributors across the United States.
During 2010, we obtained a significant chain authorization, with Safeway, which has approximately 1,100 stores in 12 states. At December 31, 2010, through our account authorizations with retailers, our management believes that Skinny products have been authorized for sale with retail accounts which aggregate approximately 7,100 chain stores, including convenience stores, supermarkets, drug stores and club stores. During the second quarter of 2011, Skinny Water will begin to be available through a national pharmacy chain which is expected to significantly increase our availability in markets throughout the country.
Net loss for the year ended December 31, 2010 was $6,914,269 compared to $7,305,831 for the same period in 2009. The 2010 net loss included non-cash expenses of $2,379,425 attributable to stock based compensation expense for employee options and warrants in addition to stock issued for services. This non-cash expense was $3,184,097 for 2009.
The following information was filed by Skinny Nutritional Corp. (SKNY) on Thursday, April 21, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.