SALT LAKE CITY, March 29, 2011 /PRNewswire/ -- Green Endeavors, Inc. (OTCQB: GRNE), a subsidiary of Nexia Holdings, Inc. (PINKSHEETS: NXHD), filed its Form 10-K with the Securities and Exchange Commission yesterday reporting consolidated net income of $43,939. Salon revenues increased 10.1% in fiscal 2010 to $2,250,998, compared to $2,044,351 a year ago. During 2010, Green experienced a 6.2% growth rate in same-store sales and 3.9% second salon growth over the previous year. Some promising results as reported in the filing:
- Our 2010 service revenue is up 13.5% over 2009.
- Our Marmalade salon is off to a good start by exceeding initial revenue predictions.
- Our net income for 2010 was $43,939 compared to a net loss that exceeded $385,000 in 2009.
- Green's total number of employees at December 31, 2010 was estimated to be 78, with 75 people employed directly in the salons and three working on the corporate management level.
- Our balance sheet is slowly strengthening. Total assets increased over total liabilities by $206,559.
- Total assets are up $642,202 or 146% over 2009.
- Total liabilities are up $435,643 or 11%.
The expansion plans for Landis Lifestyle Salons are currently moving forward; the success of the recently opened Marmalade salon is providing a sound track record on which future salon expansion can be based. Specific plans are moving forward for an additional salon to be located in the Draper, Utah area during the current year.
Green's management team was pleased that this filing was made on time, as it maintains Green's current reporting status with the SEC and provides current and updated information for its shareholders and investors.
About Green Endeavors, Inc.:
Green Endeavors, Inc. (OTCQB: GRNE), Green's Website, operates salons under the name Landis Lifestyle Salons through its subsidiaries Landis Salons, Inc. and Landis Salons II, Inc., see Landis Salons Website for more information. Our salons are built around the world-class AVEDA™ product line. Green strongly encourages the public to read the above information in conjunction with its reports filed at www.sec.gov and on www.pinksheets.com. Investors should not invest more than they can afford to lose in penny stocks.
Green Endeavors is a subsidiary of Nexia Holdings, Inc. (PINKSHEETS: NXHD), headquartered in Salt Lake City, Utah, Nexia is a diversified holdings company with operations in entertainment, health & beauty, and real estate. You can find out more at Green Endeavors Facebook, and Landis Salons Facebook. More information can be found by visiting www.nexiaholdings.com, Nexia Holdings' Facebook, Multivu Link or visit The Kane Files Facebook.
SOURCE Green Endeavors, Inc.