QualityStocks would like to highlight Liberator, Inc. (OTCBB: LUVU). The company produces and sells specialty furnishings for the global sexual wellness market. Liberator's products include furniture, apparel, and home decor items, plus bath and body products.
In the company’s news yesterday,
Liberator recently reported their Q1 2013 financials for the period ended September 30, 2012.
The Georgia-based company recorded revenue of $3.2 million, up 9% from the same quarter in fiscal 2012. They reported gross profit from continuing operations of $1.0 million, up from the $.9 million reported for the same period a year earlier. They reported income from continuing operations of approximately $91,000, compared to a net loss of approximately $52,000 in Q1 fiscal 2012. And they reported net income of approximately $6,000, compared to a net loss from continuing operations of approximately $147,000 in Q1 fiscal 2012. Finally, they reported adjusted EBITDA of $145,809, compared to an adjusted EBITDA loss of $10,519 in Q1 fiscal 2012.
Liberator President and CEO Louis Friedman commented on the numbers: “We are pleased with our first quarter results that again show solid growth and continuing momentum in all business channels. We achieved record sales for our OneUp Innovations subsidiary with sales through our wholesale channel increasing by 13% from the first quarter of last year, followed by an 8% increase in our direct to consumer revenue. As we expand our mainstream brick and mortar presence with our new vacuum compressed retail packaging, we also expect to grow our e-Commerce business by significantly reducing freight costs for the consumer.”
In addition, Liberator highlighted recent corporate events:
• On November 13, 2012, Liberator announced that it has begun shipping its Wedge® and Ramp® products in new compressed retail point-of-purchase packages.
• On September 19, 2012, Liberator announced an agreement with Cupido Sensual International (HK) Limited for the distribution of Liberator products in mainland China, Hong Kong, and Macau. Cupido has agreed to purchase a minimum of $7.0 million in Liberator products over the next 5 years.
They indicated that their strategy for growth is based on leveraging the company’s existing lines of branded products with an on-going focus on growing domestic sales, as well as expanding its distribution in Europe and Asia. Mr. Friedman expressed confidence in their current operations and strategy, indicating that he was confident the company’s positive momentum will continue into the holiday selling season.
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