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Vitacost.com Announces Results for the First Quarter 2013
Revenue on vitacost.com Website up 22% Year-Over-Year; Total Company Revenue Increased 17%
271,000 New Customers Added on vitacost.com Website
BOCA RATON, Fla., May 8, 2013 – Vitacost.com, Inc. (NASDAQ:VITC), a leading online retailer of health and wellness products, today reported financial results for the first quarter ended March 31, 2013. The number of shipped orders on the Company’s core vitacost.com website increased 17% year-over-year in the first quarter benefiting from the addition of 271,000 new customers, the most in Company history.
Revenue on the Company’s core vitacost.com website increased 22% compared to the first quarter of the prior year. The Company reported total net sales of $97.8 million for the first quarter of 2013, a 17% increase from total net sales of $83.6 million for the first quarter of 2012. The total sales increase was partially offset by an expected 47% year-over-year decline in sales through Amazon as the Company refined its Amazon sales strategy in the first quarter of 2012. Gross profit in the first quarter increased 18% year-over-year to $22.6 million. Non-GAAP adjusted EBITDA for the first quarter of 2013 was a loss of $0.4 million compared to a loss of $4.0 million in the first quarter of 2012, excluding certain items in both periods. The Company reported an operating loss of $2.9 million in the first quarter of 2013 compared to an operating loss of $6.0 million in the first quarter of 2012, excluding certain items in both periods.
“During the past year, we have made significant improvement across our business, gaining efficiencies throughout the organization,” stated Jeffrey Horowitz, Chief Executive Officer. “We have been able to narrow our non-GAAP adjusted EBITDA loss from $4.0 million a year ago to $0.4 million in the first quarter of 2013, while continuing to generate strong top-line results as our sales increased to $97.8 million this quarter. Going forward, we remain focused on continuing to grow our customer base while driving an improvement in operating results.”
First Quarter Financial Highlights
Customer Acquisition: The Company added 271,000 new customers in the first quarter of 2013 on its vitacost.com website, an increase of 9% year-over-year. In total, the Company added 362,000 new customers in the first quarter of 2013, a decrease of 13% year-over-year, due to an expected reduction in the Company’s Amazon channel.
The following information was filed by Vitacost.Com, Inc. (VITC) on Wednesday, May 8, 2013 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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