Vitacost.com, Inc. Announces Divestiture of Manufacturing Operations
29 8월 2012 - 9:00PM
Vitacost.com, Inc. (Nasdaq:VITC), a leading online retailer of
health and wellness products, announced that effective September 1,
2012, the Company has entered into an agreement to exit its
manufacturing operations and lease its manufacturing facilities to
a third party provider. Approximately forty percent of the
Company's proprietary products are currently supplied by contract
manufacturers, and this transaction outsources the remaining
portion. The transaction is expected to be margin accretive over
the next 12 months and neutral in the near term as the Company
sells through its existing inventory. In addition, the Company
expects the transaction to have approximately a $4.0 million to
$5.0 million positive impact on cash in 2013 through the reduction
in proprietary inventory levels.
"We are extremely pleased with this agreement. This strategy
will help streamline our operations and allow us to focus our full
attention on the growth drivers of our business, which are
expanding and serving our customer base, combined with broadening
our product mix and selection," stated Jeffrey Horowitz,
Vitacost.com's Chief Executive Officer. "We will continue to
maintain our extremely high quality standards and remain fully
committed to growing our Vitacost branded proprietary products as
they will continue to be a core part of our business going forward.
We have been working with this contract manufacturing partner for
over a year, and expect a seamless transition of our manufacturing
operations and personnel."
About Vitacost.com, Inc.
Vitacost.com, Inc. (Nasdaq:VITC) is a leading online retailer of
health and wellness products, including dietary supplements such as
vitamins, minerals, herbs and other botanicals, amino acids and
metabolites, as well as cosmetics, organic body and personal care
products, pet products, sports nutrition and health
foods. Vitacost.com, Inc. sells these products directly
to consumers through its
website, www.vitacost.com. Vitacost.com,
Inc. strives to offer its customers the broadest selection of
healthy living products, while providing superior customer service
and timely and accurate delivery.
Forward-Looking Statements
Except for historical information contained herein, the
statements in this release are forward-looking and made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements made herein, which
include statements regarding the Company's future growth prospects
and financial performance, the expected impact of the transaction
on working capital, the streamlining of the Company's business, the
Company's customer acquisition strategy and expectations regarding
the pace of customer growth, the Company's expectations regarding
the transition of its manufacturing operations and personnel and
the Company's plans to expand its product mix and selection involve
known and unknown risks and uncertainties, which may cause the
Company's actual results in current or future periods to differ
materially from those anticipated or projected herein. Those risks
and uncertainties include, among other things, the current global
economic downturn or recession; difficulty expanding the Company's
distribution facilities; significant competition in the Company's
industry; unfavorable publicity or consumer perception of the
Company's products on the Internet; the incurrence of material
product liability and product recall costs; inability to defend
intellectual property claims; costs of compliance and the Company's
failure to comply with government regulations; the Company's
failure to keep pace with the demands of customers for new
products; or the lack of long-term experience with human
consumption of some of the Company's products with innovative
ingredients. Those and other risks are more fully described in the
Company's filings with the Securities and Exchange Commission,
including the Company's Form 10-K for the full year ended December
31, 2011 and in the Company's subsequent filings with the
Securities and Exchange Commission made prior to or after the date
hereof.
CONTACT: Investor Contact:
Vitacost.com
Kathleen Reed
Director of Investor Relations
561.982.4180
ICR, Inc.
John Mills
Senior Managing Director
310.954.1105
Versatech (NASDAQ:VITC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Versatech (NASDAQ:VITC)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024