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Vertical Branding represents 29-38% YOY top line growth

02
Apr '08
Vertical Branding Inc announced fourth quarter and fiscal year 2007 financial results, and provided a sales forecast for fiscal year 2008. Highlights include:

• Fiscal year 2007 revenues of $36.3 million, a 57% increase over 2006; and
• Company forecasts fiscal year 2008 sales to be $47 million to $50 million, representing 29% to 38% year over year top line growth

“We are proud of what we have accomplished in 2007 in what, by the end of the year, became a challenging environment in ways specific to our company and occurring in the marketplace generally,” said Nancy Duitch, Chief Executive Officer of Vertical Branding Inc.

“Our overall 2007 results show that our shift of emphasis to retail distribution has significantly strengthened our long-term potential and we experienced impressive sales growth relative to 2006. Among other 2007 goals we achieved were improving the Company's balance sheet and placing four hot-selling products into higher-volume retail distribution channels.”

Fourth Quarter and Fiscal Year 2007 Results:
Revenues for the quarter and fiscal year ended December 31, 2007, were $5.8 million and $36.3 million respectively, a 45% decrease and 57% increase over comparable prior year periods. The Company's net loss for the quarter and fiscal year ended December 31, 2007, was $3.8 million and $3.4 million respectively, or $0.14 and $0.15 loss per diluted share.

This compares to prior year net income of $0.3 million for fourth quarter 2006, or $0.01 earnings per diluted share, and a net loss of $2.8 million for the fiscal year ended December 31, 2006, or $0.17 loss per diluted share.


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