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XFit Brands, Inc. Releases Its Second Quarter Earnings With A 27% Increase In Six Month Revenues Vs. Prior Year
XFit Brands, Inc. Releases Its Second Quarter Earnings With A 27% Increase In Six Month Revenues Vs. Prior Year.
About this update from Xfit Brands Inc
[{"type":"text","content":"\n\n\n\nXFit Brands, Inc. Releases Its Second Quarter Earnings With A 27% Increase In Six Month Revenues Vs. Prior Year\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nXFit Brands, Inc. Releases Its Second Quarter Earnings With A 27% Increase In Six Month Revenues Vs. Prior Year\n- Continued growth fuelled by expansion of one-stop-shop strategy with major fitness outlet operators\n- Recurring item sales and improved supply chain partnership supported a gross margin increase of 69%, an 11 basis point increase vs. prior year\nPR Newswire\nLAKE FOREST, Calif., Feb. 18, 2016\n\n\n\nLAKE FOREST, Calif., Feb. 18, 2016 /PRNewswire/ -- XFit Brands, Inc. (OTC: XFTB), a global supplier of fitness and MMA equipment sold at retail and fitness outlets worldwide whose brands include XFit Brands®, Throwdown®, and Transformations™, today announced earnings for its second fiscal quarter, with Net Revenue increasing 27%, Gross Margin improving 69%. \n\nXFit reported revenues from operations for the six months ended December 31, 2015, of $1,132,518, a 27% increase versus the six months ended December 31, 2014.  Gross profit increased by $204,598, or 68.7% over the same period.  Gross profit margin increased to 44% for the six months ended December 31, 2015 as compared to 33% in the prior year period.  This significant improvement in gross profit margin materialized from both a shift in mix to higher margin recurring functional fitness items and an improvement in manufacturing cost of goods sold and supply chain efficiencies. \n\nDriving the improvement in top-line growth and gross profit was the continued execution of the company's one-stop shop strategy with existing and new major national fitness operators.  The firm's broader functional fitness portfolio, supply chain expertise and customer service abilities enabled the Company's strategy to gain further traction and significantly impacted financial performance during the quarter.\n\nFor the three months ended December 31, 2015, the company's Operating Income improved 51% to a narrowed loss ...