News! KAHI posts a Net Quartly PROFIT! - Kaire Holdings Inc. Announces Record Third Quarter Sales and Posts First Ever Quarterly Net Profit
November 13, 2000 09:35:00 AM ET
LOS ANGELES--(BUSINESS WIRE)--Nov. 13, 2000--Kaire Holdings Inc. KAHI, an emerging developer of tightly focused consumer-driven companies, announced that for the three months ended Sept. 30, 2000, revenues increased $1,956,038 to $2,017,966 over the same periods in 1999, and for the nine months ending Sept. 30, 2000, revenues increased $2,608,436 to $2,806,810 over the same periods in 1999.
Gross profit from product sales and services was $676,713 and $969,574 for the three and nine months ended Sept. 30, 2000, an increase of $676,583 and $825,704 over the same periods in 1999. Net income for the three months ended Sept. 30, 2000, was $28,193 compared to the ($582,708) in the same period in 1999. These increases are due to the acquisition of Classic Care Pharmacy and the growth of the YesRx.com Internet division.
SG&A expense increased to $646,570 from $158,080 for the three months ended Sept. 30, 2000. The increase is due to the acquisition of Classic Care Pharmacy.
Kaire chairman and CEO Steven Westlund stated, "These events validate the company's 22-month long effort to develop a profitable business model that integrates e-commerce technologies with traditional business concepts. Having achieved this goal, we now can turn our attention to growth and building shareholder value. We expect to see continued growth in the next quarter and throughout 2001 from existing operations and from the development of new products and services such as the Health Advocate Program".
Westlund added "We are very pleased with the company's performance and especially the staff; they have done an exceptional job. Looking ahead, we intend to keep a tight focus on expenses as the company grows to maintain profitability and build shareholder value. The complete Form 10Q for the third quarter will be available from the company web site (www.kaireholdingsinc.com) early this week."
About Kaire Holdings Inc.
Kaire Holdings Inc. KAHI is a public holding company, which is rapidly expanding through the development of unique and proprietary consumer and business solutions, planned acquisitions, joint ventures and strategic relationships.
Kaire specializes in creating Internet-enabled companies that offer tightly focused products and services supported by extensive content resources for targeted market segments. In implementing this strategy, Kaire integrates e-commerce, content and community with traditional brick and mortar companies. This business strategy enables Kaire to develop and market products and services that meet or exceed the heightened expectations of consumers and the business community in the burgeoning new economy.
Kaire believes strongly in the Internet as a delivery and marketing platform for its specialized products and services, and it intends to exploit the full potential of the Internet as it pursues an aggressive expansion and development strategy.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "expect," "intend to" and similar conditional expressions are intended to identify forward looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in any forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
© 2000 BusinessWire
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Don't forget ... Mr. Westlund, CEO of Kaire Holdings, will be having a LIVE chat with shareholders tonight!
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JMHO, FWIW ....
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