EXHIBIT 99.1
RBC Life Sciences®
November 1, 2010
RBC Life Sciences Reports Net Earnings for the Third Quarter
Irving, Texas (RBC Life Sciences: OTCBB: 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 e nded 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 a 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 R BC 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 mo re 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 Commissi on.
Contacts:
Steve Brown
972-893-4000
steve.brown@rbclifesciences.com
RBC Life Sciences - Third Quarter 2010
Page 2
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 outst anding - diluted | 22,468,717 | | | 21,921,934 | |
| | | | |
| | Nine Months Ended September 30, |
| | 2010 | | 2009 |
| Net sales | $ | 20,946 | | | $ | 19,262 | &nbs p; |
| 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 | |
| | | | |
| | | | |
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RBC Life Sciences - Third Quarter 2010
Page 3
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 | | | 2,840 | |
| Shareholders' equity | 9,770 | | | 9,219 | |
| Total liabilities and shareholders' equity | $ | 18,837 | | | $ | 18,613 | |
