Youngevity International, Inc. (YGYI) Misses Q4 EPS by 24c

Youngevity International, Inc. (NASDAQ: YGYI) reported Q4 EPS of ($0.27), $0.24 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $34.02 million versus the consensus estimate of $42.5 million.

Steve Wallach, Chairman and CEO of Youngevity International stated, "Although we have recently made great strides in producing revenue growth this year, the third quarter posed a number of challenges as we faced seasonally slower sales for the direct selling segment and our commercial coffee segment contributed to a seasonally slower quarter. Additionally, our commercial hemp segment was still operating on a pre-revenue basis for this quarter. We enter Q4 with the anticipation of sales growth contribution coming from our latest acquisition within the direct selling segment and with Khrysos Industries beginning to generate revenue which has us anticipating finishing 2019 year with double digit revenue growth."

Dave Briskie, President and CFO of Youngevity International stated, "We are not pleased with Q3\'s performance, however, we are confident that we made the appropriate moves in Q3 pivoting our commercial hemp enterprise business model. The decision to expand Khrysos Industries into an 82,000 square foot, pharma grade, post processing facility has prolonged the period of time we will operate our commercial hemp enterprise on a pre-revenue basis, however, ultimately this decision is expected to accelerate our ability to compete, scale, and grow profitable revenue as we close out 2019 and move into 2020."

For earnings history and earnings-related data on Youngevity International, Inc. (YGYI) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Hydrofarm Holdings Group, Inc. (HYFM) Misses Q2 EPS by 134c