Michael Salaman

CEO

Skinny Nutritional Corp.

3 Bala Plaza East, Ste. 101

Bala Cynwyd, PA 19004

610-784-2000 ext. 102

Michael@SkinnyCo.com

 

 

FOR IMMEDIATE RELEASE

 

Skinny Nutritional Corp. Expands Chain Authorizations; Lowers Cash Loss by 28%

 

Foundation for Growth with Strategic Partnership with Cott Beverages’ Cliffstar Subsidiary

 

  

Press Release Source: Skinny Nutritional Corp. On Monday April 23, 2012

 

BALA CYNWYD, PA -- (Marketwire - 04/23/12) - SKINNY NUTRITIONAL CORP. (OTC.BB.SKNY – NEWS), today announced net revenues of $5,660,930 (net of slotting fees of $368,132 and billbacks of $832,046) for the year ended December 31, 2011. This represents a decrease of $1,266,178, or 18% , as compared to 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. The Company sold approximately 786,000 cases of Skinny Water® for the year ended December 31, 2011 compared to approximately 990,000 cases for the same period in 2010, a decrease of 21%, (1 case = twelve 16 ounce bottles).

 

These decreases are due primarily to the capital constraints resulting in inventory gaps and a decrease in in-store activity, as well as lowering the wholesale price to more adequately include the effects of bill backs on a continuing basis. Direct sales to retailers were $1,577,289 as compared to $847,177 for the prior year period up 86%. Sales to our “DSD” network were $4,083,641 in 2011 compared to $6,079,931 during 2010.

 

Overall cash loss was reduced by approximately $1,259,000 during 2011. Net loss for the year ended December 31, 2011 was $7,665,855 inclusive of non-cash expenses of $4,390,130, mostly attributable to stock based compensation expense for employee options and warrants, amortization of deferred financing costs and stock issued for services, as compared to $6,914,269, inclusive of non-cash expenses of $2,379,425, for the same period last year.

 


The following information was filed by Skinny Nutritional Corp. (SKNY) on Monday, April 23, 2012 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.

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