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RBC Life Sciences, Inc. Reports Net Earnings for the Third Quarter


11/1/2010 7:59:58 AM

IRVING, Texas, Nov. 1, 2010 /PRNewswire-FirstCall/ -- (RBC Life Sciences: OTC Bulletin Board: RBCL) - RBC Life Sciences, Inc., a provider of proprietary nutritional supplements, wound care and pain management products, today reported consolidated net sales of $6.1 million for the third quarter ended September 30, 2010, compared to net sales of $6.5 million for the same period during 2009. For the third quarter of 2010, the Company reported net earnings of $133,000, or $0.01 per share, compared to a net loss of $152,000, or $0.01 per share, during the same quarter in 2009. Net sales for the nine months ended September 30, 2010 increased 9% to $20.9 million compared to net sales of $19.3 million during the same period in 2009. Net earnings for the nine months ended September 30, 2010 were $517,000, or $0.02 per share, an improvement of $563,000 compared to the net loss of $46,000, or $0.00 per share, during the same period in 2009.

"With profitable results in the third quarter, we have now reported net earnings in each quarter of this year," said RBC Life Sciences President and CEO, Clinton H. Howard. "Our net earnings for 2010 are significantly ahead of prior year results and, despite the slight decline in third quarter sales compared with the prior year, we continue to see year over year sales growth in both of our industry segments.

During the first nine months of 2010, net sales of Nutritional Products increased 9% to $16.1 million while net sales of Medical Products increased 8% to $4.8 million.

About RBC Life Sciences

Through wholly owned subsidiaries,RBC Life Sciences develops, manufactures and markets high-quality nutritional supplements and personal care products under its RBC Life brand to a growing population of consumers seeking wellness and a healthy lifestyle. Through its wholly owned subsidiary, MPM Medical, the Company also develops and markets to health care professionals in the United States proprietary prescription and nonprescription products for advanced wound care and pain management. All products are tested for quality assurance in-house, and by outside independent laboratories, to comply with regulations in the U.S. and in more than thirty countries in which the products are distributed. For more information, visit the company's Web site at www.rbclifesciences.com.

The statements above, other than statements of historical fact, may be forward-looking. Actual events will be dependent upon a number of factors and risks including, but not limited to, changes in plans by the Company's management, delays or problems in production, changes in the regulatory process, changes in market trends, and a number of other factors and risks described from time to time in the Company's filings with the Securities and Exchange Commission.

RBC Life Sciences, Inc.

Summary Results of Operations

(in thousands, except per share data)

(unaudited)


Quarters Ended September 30,


2010


2009

Net sales

$

6,126



$

6,487

Gross profit

3,290



3,215

Operating profit (loss)

171



(154)

Earnings (loss) before income taxes

133



(195)

Provision (benefit) for income taxes



(43)

Net earnings (loss)

133



(152)





Earnings (loss) per share - basic and diluted

$

0.01



$

(0.01)





Weighted average shares outstanding - basic

21,921,934



21,921,934

Weighted average shares outstanding - diluted

22,468,717



21,921,934






Nine Months Ended September 30,


2010


2009

Net sales

$

20,946



$

19,262

Gross profit

10,335



9,875

Operating profit

928



192

Earnings before income taxes

813



68

Provision for income taxes

296



114

Net earnings (loss)

517



(46)





Earnings per share - basic and diluted

$

0.02



$

(0.00)





Weighted average shares outstanding - basic

21,921,934



21,920,394

Weighted average shares outstanding - diluted

22,386,287



21,920,394





RBC Life Sciences, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)


September 30, 2010


December 31, 2009

Assets




Cash and cash equivalents

$

4,814



$

3,972


Inventories

5,236



5,344


Other current assets

1,676



1,914


Total current assets

11,726



11,230


Other assets

7,111



7,383


Total assets

$

18,837



$

18,613






Liabilities and shareholders' equity




Accounts payable and accrued liabilities

$

2,538



$

2,729


Deferred revenue

3,647



3,669


Other current liabilities

165



156


Total current liabilities

6,350



6,554


Other liabilities

2,717


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