isatori inc (IFIT) Key Developments
iSatori, Inc. Provides Earnings Guidance for the First Quarter Ended March 31, 2015
Apr 22 15
iSatori, Inc. provided earnings guidance for the first quarter ended March 31, 2015. For the quarter, the company's total revenue, after discounts, trade promotions, and retail allowances, is estimated to be approximately $3.4 million compared to $3.2 million a year ago. A positive net income is estimated to be reported.
iSatori, Inc. Announces the Removal of the Weight-Loss Supplement MX-LS7(TM) v2 from the Supplement Market
Apr 11 15
iSatori, Inc. announced the removal of the weight-loss supplement MX-LS7(TM) v2 from the supplement market, accelerating the previously planned deletion of the item. Although an ingredient in question, Acacia rigidula, only makes up a small percentage of the total MX-LS7(TM)v2 formula and appears to be DSHEA compliant, out of precaution, iSatori is ceasing its distribution and sales of MX-LS7(TM)v2.
iSatori, Inc. Announces Management Changes
Apr 9 15
iSatori, Inc. announced that on April 3, 2015, Michael Wilemon informed the company of his retirement as the company's Chief Financial Officer. Seth Yakatan, a current member of the company's Board of Directors, has been appointed to serve as the company's Interim Chief Financial Officer, and in that capacity, he will serve as the company's principal financial officer and principal accounting officer. Andrea Clem, the company's current Controller, has been appointed Executive Vice President of Finance and will assume the day-to-day financing and accounting roles under the direction of Mr. Yakatan. Mr. Yakatan has served as a director of the company since September 16, 2014 and currently also serves as Vice President of Business Development for Invion Ltd. Mr. Yakatan brings more than 24 years of experience as a life sciences business development and corporate finance professional, actively supporting small cap and major companies in achieving corporate, financing, and asset monetization objectives. Prior to founding Katan Associates in 2001, Mr. Yakatan worked in merchant banking at Union Bank of California, N.A., in the Specialized Lending Media and Telecommunications Group. Andrea has been with iSatori for almost 10 years, first as Accounting Manager and then Controller She previously served Aspen Healthcare, as a Financial Analyst, and Lafarge North America, as a Regional Level Accountant for its Ready Mix product line.
iSatori, Inc. Announces Earnings Results for the Full Year Ended December 31, 2014
Mar 23 15
iSatori, Inc. announced earnings results for the full year ended December 31, 2014. For the year, the company reported total revenue of $9,654,788 compared to $10,665,038 a year ago. Loss from operations was $1,087,145 compared to $919,017 a year ago. Loss before income taxes was $891,712 compared to $955,814 a year ago. Net loss was $1,170,409 or $0.09 per basic and diluted share compared to $958,642 or $0.08 per basic and diluted share a year ago. Net product revenues, after discounts, returns, and marketing trade promotions, for the year ended December 31, 2014 were $9,513,606 compared with net product revenues of $10,507,038 in 2013. The reduction in revenues is primarily a result of an industry-wide disruption in the dietary supplement weight-loss segment of its business beginning in the third quarter and running through the fourth quarter 2014, compounded with a non-reoccurring, but an unplanned substantial product return from a retail customer.
iSatori, Inc. Launches its Newest Patented Weight Loss Pill DygloTrim(TM) with Dyglomera(r), Under the Biogenetics Brand, to Retail Stores Nationwide
Jan 14 15
iSatori, Inc. announced the launch of its new weight-loss innovation called DygloTrim, featuring patented Dyglomera(r). The Company has built a strong reputation for creating scientifically engineered, clinically effective weight-loss supplements through its BioGenetic Laboratories division, as evidenced by its numerous top-selling diet support supplements. The Company has already received sizable orders from GNC for Dyglotrim(TM), and recently shipped those orders.