DOYLESTOWN, Pennsylvania, Aug. 11, 2020 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com) today announced net sales of $3.6 million for the three months ended June 30, 2020, compared to net sales of $1.7 million for the three months ended June 30, 2019. The Company recognized net income for the three months ended June 30, 2020 of $70,000, or $0.01 per share, compared to a net loss of $1.2 million, or ($0.11) per share, for the three months ended June 30, 2019.
Results for the second quarter of 2020 compared to the second quarter of 2019 principally reflect the net effect of (i) an increase in net sales of $1.9 million due to an increase in third party customer orders, (ii) a decrease in administrative costs of $62,000 due principally to a decrease in professional fees, (iii) a decrease in sales and marketing expenses of $217,000 resulting from a reduction in marketing initiatives and (iv) a decrease in research and development expenditures of $30,000.The Company generated net sales for the six months ended June 30, 2020 of $5.5 million, as compared to $4.0 million for the six months ended June 30, 2019. The Company incurred a net loss for the six months ended June 30, 2020 of $0.7 million, or (0.06) per share, as compared to a net loss of 2.3 million, or (0.19) per share, for the six months ended June 30, 2019.Results for the six months ended June 30, 2020 as compared to the six months ended June 30, 2019 principally reflect the net effect of (i) an increase in net sales of $1.5 million due to an increase in third party customer orders, (ii) a decrease in administrative costs of $268,000 due principally to a decrease in professional fees, (iii) a decrease in sales and marketing expenses of $313,000 resulting from a reduction in marketing initiatives and (iv) a decrease in research and development expenditures of $65,000.About the CompanyWe are a manufacturing and marketing company with deep experience with OTC consumer healthcare products and dietary supplements. We are engaged in the research, development, manufacture, distribution, marketing and sale of OTC consumer healthcare products and dietary supplements in the United States. This includes the development and marketing of dietary supplements under the TK Supplements® brand.In addition, the Company also continues to actively pursue acquisition opportunities for other companies, technologies and products inside and outside the consumer products industry. For more information visit us at www.ProPhaseLabs.com.Investor ContactTed Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111
ProPhase Labs, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(unaudited)
ProPhase Labs, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
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