US: Skinny Nutritional Corp losses deepen, sales jump
Skinny Nutritional Corp has announced a loss of more than US$6m for 2008, but saw sales of zero-calorie water nearly triple for the year.
Net profit for the 12 months of 2008 deepened to $6.2m, compared to $5.7m in 2007, Skinny Nutritional Corp said yesterday (2 April).
The group, which makes zero-calorie Skinny Water in six fruit flavours, said that net sales for the year rose by 189% to nearly $2.2m.
"The company has made an investment in marketing the brand, establishing a distribution network and building it's sales and marketing team. These expenses represent the majority of the company's losses for 2008," said Skinny.
Ron Wilson, who became president and CEO on 1 December 2008, said: "Since I became CEO, my goal has been to create a long-term, sustainable business model. In pursuit of this goal we have already made a dramatic reduction in our cost of goods. As a result of this and other initiatives, we expect our gross margin to improve in future periods."
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