Inergetics: 2013 Third Quarter Earnings Announcement
14 Nov, 2013, 05:00 ET
NEWARK, N.J., Nov. 14, 2013 /PRNewswire/ -- Inergetics, Inc. (NRTI), a leading developer of nutritional supplements, today filed its 10Q for the third quarter ending September 30, 2013.
Inergetics continues to drive revenue growth through expanded distribution of its brands nationwide through agreements with additional retail outlets. Revenue growth during the third quarter was primarily attributed to the success of Martha Stewart™ Essentials - a complete line of women's whole-food-based supplements.
In the quarter, the Company signed a sales agreement with a major U.S. retail chain for distribution of Martha Stewart™ Essentials. Under the terms of this agreement, the distribution of these products in the quarter was expanded to more than 8,000 stores nationwide. Purchase orders were received and processed, the product was shipped and received by the retailer, and invoices distributed. However, GAAP accounting principles require that the full revenue secured from this agreement may not be recognized within the Company's financial statements until the first quarter of 2014.
Inergetics continues to implement the terms of this nationwide retail distribution agreement and continued distribution expansion of Martha Stewart ™ Essentials as well as its portfolio of core brands. The Company also continues to implement new marketing programs to support distribution and sell-through of its brands.
About Inergetics, Inc.
Inergetics' portfolio of brands includes: Martha Stewart™ Essentials, a complete line of whole-food based supplements created specifically for women; Surgex® Sports Nutrition, the preferred nutritional supplement of Army Sports; Bikini Ready®, a leader in weight loss lifestyle solutions; and SlimTrim™, the affordable, premium value diet brand.
To learn more about Inergetics, visit www.inergetics.com, and the Inergetics brands' websites at: www.marthastewartessentials.com, www.surgexsports.com, www.surgexsportsblitz.com, www.slimtrim1.com, www.slimtrim.net, www.bikinireadylifestyle.com, www.kahunasands.com.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of Inergetics set forth herein and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts," or similar expressions, are "forward-looking statements." Although Inergetics' management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause Inergetics' future results to differ materially from those anticipated. Inergetics assumes no obligation to update any of the information contained or referenced in this press release.
SOURCE Inergetics, Inc.
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