DELRAY BEACH, FL -- 11/07/09 --
In the news release, "Celsius Holdings
Reports Increased Revenue," issued Friday, November 06, 2009, by Celsius
Holdings, Inc. (OTCBB: CSUH), we are advised by the company that the period
for second set of figures for the Condensed Consolidated Statements of
Operations financial table should read "For the Nine Months Ended September
30," rather than "For the Six Months Ended September 30," as originally
issued. Complete corrected text follows.
Celsius Holdings Reports Increased Revenue
DELRAY BEACH, FL - November 06, 2009 - Celsius Holdings, Inc. (OTCBB: CSUH)
today reported revenue of $1.3 million for the three months ended September
30, 2009 versus $436,000 for the same period in the previous year, an
increase of 208.4%. Revenue for the nine month period ended September 30,
2009 was $3.5 million versus $2.0 million for the same period in the
previous year, an increase of 76.8%. The company recorded a net loss of
$2.7 million for the three month period ended September 30, 2009 versus
$1.8 million for the same period last year, or $0.02 and $0.01 per basic
and diluted share, respectively.
Mr. Stephen C. Haley, chairman and CEO, said: "We are moving into the
growth phase for the company. Reorders remain strong and we added several
significant retailers during the quarter. We announced recent retailer
additions such as XtraMart, Fred Meyer, Wegmans, Wright Wisner, Tops, Duane
Reade, SuperValu and Shoprite. This shows that our focus remains to
increase distribution and Celsius has already or will be hitting the
shelves of these and other retailers over the upcoming months."
Mr. Haley continued: "We are seeing retailer and consumer acceptance
growing and in September we launched a substantial national marketing
campaign to build consumer awareness and we are executing with multiple
marketing vehicles from television and radio to print and internet."
The company's quarterly conference call is scheduled for 4:30 p.m. ET
Tuesday, November 10. The call may be accessed through live webcast links
on the company's internet homepage, http://www.celsius.com. The webcast
will be archived and available on the company's website for one month
following the call.
About Celsius Holdings, Inc.
Celsius Holdings, Inc. (OTCBB: CSUH) markets Celsius®, the original,
great tasting calorie burner that is backed by science, through its
wholly-owned operating subsidiary, Celsius, Inc. Celsius, Inc. is dedicated
to providing healthier, everyday refreshment through science and
innovation. Information about Celsius Holdings, Inc. is available at our
website. More information about Celsius, the original, great tasting
calorie burner, is available at http://www.celsius.com.
Forward-looking Statements
This press release may contain statements that are not historical facts and
are considered forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements contain
projections of Celsius Holdings' future results of operations and/or
financial position, or state other forward-looking information. In some
cases you can identify these statements by forward-looking words such as
"anticipate," "believe," "could," "estimate," "expect," "intend," "may,"
"should," "will," "would," or similar words. You should not rely on
forward-looking statements since Celsius Holdings' actual results may
differ materially from those indicated by forward-looking statements as a
result of a number of important factors. These factors include, but are not
limited to: general economic and business conditions; our business strategy
for expanding our presence in our industry; anticipated trends in our
financial condition and results of operation; the impact of competition and
technology change; existing and future regulations affecting our business;
and other risks and uncertainties discussed in the reports Celsius Holdings
files from time to time with the Securities and Exchange Commission.
Celsius Holdings does not intend to and undertakes no duty to update the
information contained in this press release.
Celsius Holdings, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(unaudited)
September 30, December 31,
2009 2008
------------ -------------
ASSETS
Current assets $ 3,042,016 $ 1,750,576
Long-term note receivable - 250,000
Other long-term assets 209,659 202,193
------------ -------------
Total Assets $ 3,251,675 $ 2,202,769
============ =============
LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY
Current liabilities, other $ 1,392,406 $ 733,537
Current liabilities, related parties 1,580,000 120,000
Convertible note payable, net of debt discount 2,415,281 562,570
Other long term liabilities 185,497 775,435
------------ -------------
Total Liabilities 5,573,184 2,191,542
Stockholders' (Deficit) Equity (2,321,509) 11,227
------------ -------------
Total Liabilities and Stockholders'
(Deficit) Equity $ 3,251,675 $ 2,202,769
============ =============
Celsius Holdings, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(unaudited)
For the Three Months For the Nine Months
Ended September 30, Ended September 30,
2009 2008 2009 2008
------------ ------------ ------------ ------------
Net revenue $ 1,343,002 $ 435,484 $ 3,480,475 $ 1,968,975
Cost of revenue 766,553 456,293 1,987,389 1,386,509
------------ ------------ ------------ ------------
Gross profit 576,449 (20,809) 1,493,086 582,466
Selling and
marketing
expenses 2,620,103 1,356,642 5,295,383 2,909,993
General and
administrative
expenses 624,007 434,182 1,427,747 1,322,579
------------ ------------ ------------ ------------
Loss from
operations (2,667,661) (1,811,633) (5,230,044) (3,650,106)
Interest expense,
net 50,244 32,592 105,785 292,382
------------ ------------ ------------ ------------
Net loss $ (2,717,905) $ (1,844,225) $ (5,335,829) $ (3,942,488)
============ ============ ============ ============
Basic and diluted:
Weighted average
shares
outstanding 150,842,575 136,388,430 149,774,074 122,626,170
============ ============ ============ ============
Loss per share $ (0.02) $ (0.01) $ (0.04) $ (0.03)
============ ============ ============ ============
Contact Info:
Kim Morgan
(561) 750-9800 x233
Email Contact
Jan Norelid
(866) 4-CELSIUS
Email Contact
