MIAMI BEACH, Fla., Aug. 16 /PRNewswire-FirstCall/ -- Executives at
biotech developer Divine Skin Inc. (OTC Bulletin Board: DSKX) were
pleased to announce their Second Quarter numbers — up 30 percent
over Q1 of this year and 78 percent over Q2 of last year, while net
income was up nearly 380% over Q1 and Q2 last year.
Gross revenue for the quarter was $1.33
million — a new record and a second consecutive quarterly
gain — which compared with $1.07
million for Q1 and $760,000
for Q2 of 2009. Net income for the quarter was $232,000 while posting a loss of $215,000 in the same period last year.
The company develops, manufactures, and distributes advanced
technologies for topical preparations, OTC drugs and prescription
drugs within the personal care space. The company aims to
capitalize on its research and development expertise to establish
new treatments that lead to improved quality of life for many of
its customers.
"Despite that this performance fell short of our target," said
Divine Skin CEO Daniel Khesin. "We
are very much on track with our distribution and product
development strategy implementation. DS Laboratories brand
has been adding new salons at a tremendous pace. Our Sigma Skin
brand has just completed an agreement with Neiman Marcus – one of the highest end
Department store in the US. We have so much new business in the
pipeline, shareholders will be very pleased. Our main obstacle at
the present moment is meeting the huge demand due to complex
manufacturing requirements for our technologically driven
formulations. We can easily deliver significantly more sales volume
if we simply improve the efficiency of our supply chain."
Khesin reaffirmed that the company is on track to supply
Fantastic Sams, a chain of 1,300 franchised salons throughout
the United States, by the end of
Q3. The company expects that distribution agreement to be worth
$4.6 million per year when fully
implemented.
About Divine Skin
Divine Skin Inc. develops, markets, and distributes
technologically advanced personal-care products through a diverse
network of wholesalers, online retailers, specialty outlets, spas,
salons, and medical offices in more than 20 countries. Its brands
include DS Laboratories, Sigma Skin, and Polaris Research.
DS Laboratories, the flagship brand, offers unique
high-performance topical solutions to deliver maximum efficacy that
encompass the entire personal care landscape.
(www.dslaboratories.com).
The Sigma Skin brand is an ultra excusive brand designed to meet
the needs of upscale retailers like Bergdorf Goodman and
Neiman Marcus in the United States, Saks Fifth Avenue in
Mexico, and Harvey Nichols in the United Kingdom. Products are designed to
reverse hair loss and other signs of aging (www.sigmaskin.com).
Polaris Research makes high-potency hair re-growth formulations
that are prescribed by doctors. (www.polarisresearch.co.uk).
Divine Skin's management believes the company has established
itself as a leader in topical therapies, especially hair-growth,
through aggressive pursuit of innovation and technology. Products
employ comprehensive formulas with multiple methods of action
against common skin conditions. Many utilize proprietary
encapsulation techniques for improved bioavailability.
SOURCE Divine Skin Inc.
Copyright . 16 PR Newswire