ORLANDO, FL--(Marketwire - November 14, 2011) - XYMOGEN today released its 2011 third-quarter financial results. Revenues of $10.38 million catapulted XYMOGEN over its $10 million mark for a quarter. This represents a 25% increase over the Q-3 2010 revenues of $8.31 million. "We are delighted with our record-setting third-quarter performance," said President and Chief Executive Officer Brian Blackburn. "Sales increases for Q-3 may be attributed to our most successful event ever, the June 24-26 XYMOGEN XPERIENCE in New York with nearly 200 attendees. The extraordinary response to the Evans-Burdette National Seminar Series and the continued success of our Quarterly Product Launches (QPL) continue to be the primary drivers of our growth."
Considerable investments in its International Initiative caused a drop in EBIDTA from $798K in Q-3 2010 to $412K for Q-3 2011. Scott Bukow, VP International Development for XYMOGEN, has fast-tracked product registration for the Canadian market with several approved formulas for Q-4 sales in Canada. Bukow has leveraged his 14 years of relationships with international distributors to reach agreements for distribution of XYMOGEN formulas in several additional countries. 2012 promises to be a "banner year" for international expansion.
XYMOGEN's 2011 nine-month sales (January-September) were $29.55 million compared to $24.22 million for the same period last year. This represents a $5.33 million or 22% increase in revenues. Based on the May 2011 issue of the Nutrition Business Journal, the practitioner channel grew 7% in 2010. XYMOGEN's 30% growth in 2010 and its 22% increase to date for 2011 illustrate how XYMOGEN continues to outperform this business sector.
Through September 30, 2011, XYMOGEN has generated in excess of $3.5 million in investments in 2011. "The success of XYMOGEN's 2011 private offering of stock has been a critical component in supporting our growth initiatives. We are most grateful to all investors for their trust and confidence in our XYMOGEN team," said Blackburn. "XYMOGEN's continued growth, coupled with the capital gains exclusion which applies to stock shares purchased prior to January 1, 2012, will make this a very astute investment decision."
XYMOGEN has over a quarter century of experience in providing quality professional supplements to healthcare practitioners. As an independent health sciences company, XYMOGEN has introduced numerous innovations to the Functional Medicine community. XYMOGEN's place as the fastest-growing company and brand in the practitioner channel was reinforced in 2007, 2008, 2010, and 2011, when it was recognized by Inc. magazine as one of the Inc. 500/5000 fastest-growing private companies in America.
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