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Hoodia Products International Reports Q1 Results, Net Revenues Increase 99% Quarter-Over-Quarter Tuesday , May 15, 2007 09:00 ET
DUBLIN, CA -- (MARKET WIRE) -- 05/15/07 -- Hoodia Products International Inc. (PINKSHEETS: HDIA), the California-based manufacturer of appetite suppression products made from the Hoodia gordonii plant, today announced revenue for the first quarter ended March 2007.
Management Analysis
For the quarter, sales totaled $25,425, a net increase of 99% over Q4-06 sales of $12,798. The sales increase was primarily driven through the hoodiaproducts.com website and other internet channels, and web sales accounted for 82.6% of the quarter's revenue. Management believes the increase in sales is due to continued aggressiveness in pricing; POWERSLIM was reduced from a price point of $54.95 to $39.99 during the first quarter, and will likely remain at this price for the foreseeable future. With many of our major competitors now retailing for 30-40% more, the company believes it may be successful in capturing additional first-time buyers who were otherwise unwilling to pay the original price.
Q1-07 Sales Breakdown
January Web Sales: $7,407 January Call-In Sales: $2,439
February Web Sales: $6,686 February Call-In Sales: $1,160
March Web Sales: $6,877 March Call-In Sales: $865
New Products in Development
The company is currently in the late stages of development of two new products. Both of these products will retail for less than $5.00 and would offer Hoodia Products enhanced distribution capability because of their unique functionality and impulse-buying potential. Net margins for these products should each exceed 100%, priced competitively against any relevant peers. The company expects to make a formal announcement on these items no later than the end of Q3-2007.
Stock Issuances & Shares Outstanding
The company did not issue any stock in the first quarter. As of May 1, 2007, the company has 169,931,230 shares outstanding, with approximately 148,850,362 of those shares restricted and held by management or affiliates. The company transfer agent is Interstate Transfer Company and can be reached at (801) 281-9746.
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