AMS Health Sciences, Inc. Announces Second Quarter 2006 Financial Results
15 August 2006 - 6:24AM
Business Wire
AMS Health Sciences, Inc. (AMEX:AMM) today announced a net profit
from continuing operations for the second quarter 2006 of $32,617,
or $0.01 per common (diluted) share, on 7.5 million shares
outstanding. Results for the three months ended June 30, 2006,
including discontinued operations, was a net loss of $(152,900) or
$(0.02) per common share, on 7.5 million shares outstanding. This
compares to a net loss of $(769,446), or $(0.11) per common
(diluted) share, on 7.2 million shares outstanding in the second
quarter of 2005. Sales totaled $2.4 million for the quarter
compared to sales of $3.5 million for the quarter ended June 30,
2005. Sales for the first six months of the current fiscal year
totaled $4.7 million compared to $7.5 million for the same period
in 2005. Net loss for the first six months of 2006 was $(469,215),
or ($0.06) per common (diluted) share, on 7.5 million shares
outstanding, compared to a net loss of $(2,107,869), or ($0.30) per
common (diluted) share, on 7.1 million shares outstanding, in the
year 2005. Results for the first six months of 2006 include a net
profit from continuing operations of $52,017, or $0.01 per common
(diluted) share. Cost of sales in the second quarter of 2006
decreased by $905,191 to $1,487,485, or 62% of net sales. During
the same period in 2005, cost of sales was $2,392,676, or 68% of
net sales. Cost of sales in the first six months of 2006 decreased
by $2,882,169 to $3,052,639, or 64% of net sales, compared to cost
of sales of $5,934,808, or 79% of net sales, in the same period of
2005. Total marketing and administrative expenses decreased by
$1,079,212 to $867,415, or 36.2% of net sales, during the second
quarter of 2006. During the same period in 2005 total marketing and
administrative expense were $1,946,627 or 55.2% of net sales. For
the first six months of 2006, marketing and administrative expenses
decreased by $2,070,178 to $1,698,079, or 35.7% of net sales,
compared to expenses of $3,768,257, or 49.9% of net sales, during
the first six months of 2005. "The key element to focus on is our
profit from continuing operations in 2006 of $52,017 versus a loss
in 2005 of $2,107,869. We continue to establish the fact that we
can make a profit in our core operations. We have eliminated many
of the detractors that hurt us in 2005 and early 2006 and can now
turn all of our efforts to driving top of line sales and bottom
line profits," said Dr. Jerry W. Grizzle, Chairman and CEO. AMS
Health Sciences, Inc., sells more than 60 natural nutritional
supplements, weight management products, and natural skincare
products through independent distributors across the U.S. and
Canada. More information about the Company is available at
http://www.amsonline.com.
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