Archive for October, 2009
Medifast Reports Record Third Quarter 2009 Financial Results
by admin on Oct.31, 2009, under Uncategorized
PR Newswire, Oct 29, 2009
Record Quarterly Revenues: $45.0 million vs. $27.3 million – Increase of 65% Record Quarterly Diluted EPS: $0.23 vs. $0.11 – Increase of 109% Company Generates $5.3 million of Free Cash Flow
OWINGS MILLS, Md., Oct. 29 /PRNewswire-FirstCall/ — Medifast, Inc. , a provider of leading clinically proven portion-controlled weight-loss programs, announced today third quarter financial results for the period ended September 30, 2009.
Third Quarter 2009 highlights included:
-- Third quarter revenues increased 65% to $45.0 million, compared to
2008;
-- Diluted EPS for the quarter increased 109% to $0.23 versus $0.11
year-over-year;
-- Direct sales segment, Take Shape for Life, increased sales 105%
year-over-year for the quarter;
-- Medifast Weight Control Centers quarterly revenues increased 106%;
-- Direct response quarterly revenues increased 14% versus a year ago;
-- Operating margins improve to 12.4% versus 8.8% in the comparable
quarter;
-- Generated Free Cash Flow of $5.3 million.
For the third quarter ended September 30, 2009, Medifast reported revenue of $45.0 million, a 65% increase over the $27.3 million reported in the third quarter of 2008. The Company reported net income of $3.4 million, or $0.23 per fully diluted share, compared with $1.5 million, or $0.11 per fully diluted share in the third quarter of 2008, a diluted EPS increase of 109%.
For the nine months ended September 30, 2009, Medifast reported revenue buy generic phentermine of $119.4 million, an increase of 49% from the $80.0 million reported for the nine months ended September 30, 2008. The Company reported net income of $8.9 million, or $0.60 per fully diluted share, for the nine month period, versus $4.5 million, or $0.32 per fully diluted share, in 2008.
“We are extremely pleased to report yet another quarter of record revenues and net income,” commented Michael S. McDevitt, Chief Executive Officer of Medifast, Inc. “The Medifast program is clearly resonating with consumers as a strong value proposition with the best possible support options for rapid and safe weight loss, as well as the recommendation of 20,000 physicians over 30 years. The growth reported in our direct sales, direct response and clinics segments re-enforces our belief that the outlook for all distribution channels remains strong.”
Revenues in the direct sales segment, Take Shape for Life, increased 105% to $27.9 million compared with $13.6 million in the same quarter of 2008. Revenue growth was driven by an increase in the number of active health coaches, which resulted in increased customer product sales. The number of active health coaches during the third quarter increased to approximately 5,800 compared with 3,200 during the period a year ago, an increase of 81% and up from 4,650 at the end of the second quarter of 2009. The net increase of 1,150 health coaches during the quarter is a record for the company and should lead to continued strong growth in the segment. The growth in Take Shape for Life is a result of the hard work, commitment and passion of our coaches. To help fuel this growth, the Company continued to improve tools and training, particularly during its July 2009 National Convention. The unique opportunity to supplement income while helping family, friends and associates improve their quality of life continues to gain significant traction.
During the second quarter, sales in the Company’s direct response segment experienced growth of 14% during the quarter to $12.2 million compared with $10.6 million a year ago. This is the first year-over-year increase in five quarters for the direct response segment, as diligent controls of the revenue-to-spend metric, which measures advertising effectiveness, cultivated a 2.7 to 1 ratio for the third quarter, compared with 2.5 to 1 a year ago on an advertising spend increase of $200,000. The increase in the revenue-to-spend metric, coupled with the increase in advertising spend, provided tremendous margin improvement for the segment. Medifast Direct’s continued improvement in its advertising effectiveness was primarily attributable to several factors to including a more focused print campaign, continued improvements in the contact center conversion rates, and the use of its customized web analytics tool, C3 Metrics, implemented this time last year, which allows the Company to more accurately track originating clicks and customer conversion related to our web spending.
The Company reported record revenues in its Medifast Weight Control Centers segment of $4.5 million, a 106% increase compared to the third quarter of a year ago, driven by strong same-store sales and new clinics opened during the year
Merry Maids Celebrates Thirty Years of Industry Leadership
by admin on Oct.31, 2009, under Uncategorized
Market Wire, October, 2009
Merry Maids, ( www.merrymaids.com ) the world’s largest home cleaning franchise network, turns 30 years old. The company’s Canadian operations will mark the occasion by making donations to Toronto’s Hospital for Sick Kids and to the Canadian Women’s Foundation.
Established in 1979 in Omaha, Nebraska, the company joined the ServiceMaster Family of brands in 1988 and is the world’s largest home cleaning franchise network employing more than 8,000 home cleaning professionals, cleaning some 300,000 homes, apartments and condos in North America every month.
“Merry Maids is an important member of the ServiceMaster family of brands” said Bob Brennan, President of ServiceMaster of Canada. “Our coast to coast network of franchisees has made a significant contribution to the quality image dryer vent cleaning that is so critical to the success of all service businesses.”
From its humble beginnings in Omaha, Nebraska in 1979 the company has grown in a very old fashioned way – by cleaning houses, apartments and condos better than anyone else. Today, the company is the largest home cleaning company in the world with over 600 locations in the United States and Canada. Its business is growing globally with operations in Hong Kong, Japan, South Korea, Malaysia, the Philippines, United Kingdom, the United States and Canada.
“It has been a true privilege to work with our owners in Canada and grow together,” said Bob Goodwin, Business Leader of Merry Maids of Canada. “By choosing Merry Maids, our customers can relax knowing our team of professionals is dedicated to the needs of their home. Our owners understand customer service and the promise of our customers’ trust is something we will never fail to appreciate.”
In growing, the company also offers numerous benefits to its franchisees including:
-- Financing for new franchisees to own a Merry Maids and for existing
franchisees to expand their business
-- The industry's best management and operating software
-- A full benefits program for franchisees and their employees providing
life insurance, long term disability, medical, vision care and dental
coverage
-- Centralized purchasing/supply of branded leading edge products and
equipment
-- A commitment to the promotion of green products and services for
employees and customers
-- National marketing partners including: Shoppers Drug Mart; The Bay;
Zellers; Home Outfitters; HBC Rewards; the Royal Bank of Canada;
AmeriSpec; Wal-Mart. Merry Maids also offers AIR MILES reward miles
About Merry Maids
Merry Maids is the world leader in the maid service industry. Our professional home cleaning system has been imitated, but never duplicated
FamilyLife Supports Military Marriages in San Diego
by admin on Oct.31, 2009, under Uncategorized
PR Newswire, Oct 28, 2009
Organization offers reduced admission for military couples to marriage conferences Nov. 6 – 8 and 20 the magic of making up – 22
SAN DIEGO, Oct. 28 /PRNewswire/ — In response to rising suicide and divorce rates within the U.S. military, FamilyLife, a non-profit ministry dedicated to supporting marriages and families, will present its Weekend to RememberA’ marriage conference at a significant discount to military couples in the San Diego area from Nov. 6 – 8 at The Westin San Diego (400 West Broadway) and Nov
Lightweight: Mr. Rogers’ neighborhood
by admin on Oct.31, 2009, under Uncategorized
Flex, Nov, 2009 by Greg Merritt
“For the last six years, I’ve been doing national shows and getting seconds and thirds; it was frustrating, but f80 treadmill I finally got a national win, so it feels good. Hopefully, it’s a springboard toward more things to come.” So said Travis Rogers after winning the USA lightweight class. Rogers, 37, a landscaper and personal trainer from Levittown, Pennsylvania, sported the best upper half among the lights, with biceps that could’ve held their own in any class.
Wyoming’s Marc Bennett was as shredded as coleslaw, with skin so thin that you could read his blood type, but he needs upper-body density
Centre money boost; TOP CLASS: PAGES 47-49
by admin on Oct.30, 2009, under Uncategorized
Evening Chronicle (Newcastle, England), Oct 29, 2009
A DAY centre for people with learning disabilities is celebrating a grant of pounds 847.
The Reap and Sow group, based at Marquisway Centre, Team Valley, Gateshead, will use the money to set up a sensory garden and allotment. They plan to grow fruit and vegetables to sell through Gateshead Food Co-op thanks to the grant from The Gateshead Housing Company’s Community Fund.
Wendy Scope, mobility vehicles from Gateshead Council’s Community Based Services, said the grant is a boost that will give people attending the centre a chance to become active.
Single effort blossoms to schoolwide drive
by admin on Oct.30, 2009, under Uncategorized
0 Comments | Oakland Tribune, Oct 28, 2009 | by Anonymous
Laurel Paxton, 18, of Pleasant Hill, and Helen Lamb, 16, of San Ramon, students at Oakland College Preparatory School, donated more than 400 pounds of peanut butter to the Monument Crisis Center in Concord earlier this month through a school fundraiser.
Laurel, who had worked at the center, noticed the families did not have enough protein in their diets and organized a similar drive years ago, resulting in a donation of 200 pounds of peanut butter. She even donated the meat from a 4-H pig she raised to the center.
Last year, when the economy forced more families to request assistance, the center cupboards were bare. Laurel said, “I knew what I needed to do to help.”
Oakland Prep has decided that the peanut butter drive started by Laurel will be an annual event, with Helen stepping in to serve as chairwoman next year.
As we noted in our last issue, the nonpartisan Law Library of Congress has published a report affirming that Manuel Zelaya’s removal from the Honduran presidency was lawful and constitutional, even if his subsequent deportation to Costa Rica was not
by admin on Oct.30, 2009, under Uncategorized
National Review, Nov 2, 2009
As we noted in our last issue, the nonpartisan Law Library of Congress (LLC) has published a report affirming that Manuel Zelaya’s removal from the Honduran presidency was lawful and constitutional, even if his subsequent deportation to Costa Rica was not. Notwithstanding the LLC’s findings, the Obama administration still considers Zelaya’s ouster an illegal “coup,” and it still wants the Hugo Chavez disciple reinstalled as president.
During a recent trip to Tegucigalpa, Republican senator Jim DeMint asked U.S. ambassador Hugo Llorens to justify the “coup” allegation; Llorens directed him to a report drafted by State Department legal adviser Harold Koh. The problem is, that report has not been released
TripIt Pro Now Available to Travelers Around the World
by admin on Oct.28, 2009, under Uncategorized
Market Wire, October, 2009
TripIt, the trip management company,
today announced that TripIt Pro is now available to travelers outside the
United States. TripIt Pro is a premium service that gives frequent
travelers a new level of control, convenience and peace of mind while
traveling.
TripIt Pro works in conjunction with the award-winning TripIt itinerary
service, providing additional time-saving travel tools:
-- Mobile Alerts -- Receive the latest info about flight delays,
cancellations, connections, gate changes, baggage claim and more, on any
mobile device, for any airline no matter where the flight was booked.
-- Alternate Flights -- Get re-booking options for any flight delays or
cancellations, including flight status and available seats, across all
available airlines.
-- Point Tracker -- Keep track of frequent traveler accounts, balances
and expirations, all in one place, with expanded support for more
international airlines.
-- Inner Circle -- Automatically share every trip with key people like an
administrative assistant or spouse.
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“One quarter of our customers live outside the United States, so we’re
thrilled to give them access to TripIt Pro,” commented Gregg Brockway,
TripIt president. “With their feedback, we’ve steadily expanded support to
cover hundreds of international airlines, hotels and other travel
providers.”
TripIt is extending their popular charter member program to travelers
outside the United States. Non-U.S. travelers can sign up for a free trial
before November 30, 2009 at www.tripit.com/pro and enter promo code CHARTER
to lock in a special charter price of only $49 per year ($69 standard
price)
Protein timing for muscle growth
by admin on Oct.28, 2009, under Uncategorized
Muscle & Fitness, Dec, 2009
A recent study further validates our recommendation that you should use both whey and casein protein to build muscle mass. In an eight-week study, researchers had two groups of young men perform a resistance-training program, then consume a 70-gram protein shake consisting of 82% casein at different times of day. One group supplemented in the morning and immediately following training, and buy phentermine no prescription the second group took the protein in the morning and again five hours after training. At the end of the study, the group who consumed the shake later in the day added more than 2 pounds more muscle than the first group
What’s new in research? Online surveys.(Financial Executives Research Foundation)
by admin on Oct.27, 2009, under Uncategorized
Financial Executive, September, 2009
Over the past year, Financial Executives Research Foundation (FERF) has invited FEI members to participate in a number of online surveys. FERF incoming Chair Robert R. (Bob) Walker says these polls can function as a sort of virtual networking.
“Surveys provide another opportunity for networking, based on the commonality of our members, who have highly paid surveys online relevant demographics as senior financial executives.” (See “Trustee Spotlight” on page 2.)
Bill Overell, vice chair of FEI’s Committee on Finance & Information Technology (CFIT), and president of Overell Solutions, adds: “FEI members can benefit themselves and their companies by responding to these surveys, which provide key reference points that can assist them in priority setting and decision…
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