Youngevity International, Inc. (YGYI) has reported an 83.89 percent plunge in profit for the quarter ended Sep. 30, 2016. The company has earned $0.07 million in the quarter, compared with $0.42 million for the same period last year. Revenue during the quarter grew 5.41 percent to $43.56 million from $41.33 million in the previous year period. Gross margin for the quarter contracted 4 basis points over the previous year period to 60.53 percent. Total expenses were 98.68 percent of quarterly revenues, up from 97.44 percent for the same period last year. That has resulted in a contraction of 124 basis points in operating margin to 1.32 percent.
Operating income for the quarter was $0.58 million, compared with $1.06 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $1.62 million compared with $2.08 million in the prior year period. At the same time, adjusted EBITDA margin contracted 132 basis points in the quarter to 3.72 percent from 5.04 percent in the last year period.
"We are excited to report record revenue for the third quarter 2016. We continue to see improved sales and customer growth in the United States and our international markets," stated Steve Wallach, chief executive officer of Youngevity International. He continued, "I was proud to see the significant improvements derived from our coffee segment as this business continues to scale."
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