RBC Life Sciences Reports 18 Percent Higher Revenues in the First Quarter of 2008

Genetic Engineering & Biotechnology News

RBC Life Sciences, Inc. today announced that net sales for the first quarter ended March 31, 2008, increased 18 percent to $6.35 million, compared to net sales of $5.39 million for the quarter ended March 31, 2007. The Company's net earnings for the first quarter of 2008 improved 9 percent to $355,000, or $0.02 per share, compared to net earnings of $325,000, or $0.02 per share, in the first quarter of 2007. Diluted shares outstanding for the 2008 quarter were 22,573,000, compared to 21,557,000 for the first quarter of 2007.

"We are pleased with RBC's continued growth in the first quarter," said Clinton Howard, Chairman and CEO. "Our Nutritional Products segment grew more than 14% compared to last year's first quarter, due primarily to an increase in revenues from our international licensees. Our Medical Products group showed 32% growth quarter over quarter, due to an increase in the customer base for our wound care products and increased sales to our largest customer in this segment. We look forward to continued growth from each of our segments in 2008."