PetLynx Directors Approve Positive Financials and Set AGM

The Board of Directors of PetLynx Corporation approved the Audited Financial Statements for the year ended 31 December 2011, at their meeting earlier this week.  

The statements show positive results as compared to Fiscal 2010:  

• Revenues increased by 32.8%;
• Gross margin increased by 2.35%; and, 
• Net losses decreased by 35.8%.

However the most exciting achievement is $64,959 of positive cash from operations, a first in the history of the PetLynx development.

The Board also set the annual general meeting of the shareholders of PetLynx Corporation for 1000hrs, on Tuesday, 19 June 2012. The Financial Statements, Information Circular and Proxy Forms will be mailed to shareholders on or about 28 May 2012.

PetLynx announced the Petsecure/Walmart program featuring a PetLynx Lifetime Recovery Subscription moved into retail operations today.

PetLynx has also secured a portion of the $300K bridge which was offered to existing shareholders.  This one year secured investment provides an interest rate of 12% and a very attractive conversion option into common shares.  

Contact Cindy Kreutzer 403.219.1088 for more information.

Idexx Sees Organic Growth in First Quarter

Second Quarter to Begin Launching New Products 

Although the economic climate remains challenging for businesses, Idexx Laboratories continues to bring innovative products and services to their customers. This has resulted in a 10 per cent increase in revenues during the first quarter of 2012. 

To continue their success, Idexx has proposed to launch new products to expand the diagnostic capability of veterinarians.

To read the official Press Release, click here.

Colgate-Palmolive Reports Increased Sales

Colgate-Palmolive Company (NYSE:CL) today reported worldwide Net sales of $4,172 million in fourth quarter 2011, an increase of 5.0% versus fourth quarter 2010. Global unit volume grew 4.0%, pricing increased 3.0% and foreign exchange was negative 2.0%. Excluding divested businesses, global unit volume grew 4.5%. The Sanex acquisition contributed 1.5% to sales and volume growth. Organic sales (Net sales excluding foreign exchange, acquisitions and divestments) grew 6.0%.

   
Hill's (13% of Company Sales)

Hill's Net sales grew 2.0% during fourth quarter 2011. Unit volume decreased 1.5%, pricing increased 3.0% and foreign exchange was positive 0.5%. Volume gains in Russia and Brazil were offset by declines in the U.S. and Japan. Hill's organic sales increased 1.5% during the quarter.

   

Hill's Operating profit increased 4% in fourth quarter 2011 to $152 million, or 27.0% of Net sales. This increase in Operating profit as a percentage of Net sales was due to a decrease in Selling, general and administrative expenses as a percentage of Net sales, partially offset by a decrease in Gross profit as a percentage of Net sales. The decrease in Gross profit as a percentage of Net sales was due to higher raw and packaging material costs reflecting global commodity cost increases, partially offset by cost savings from the Company's funding-the-growth initiatives and higher pricing. Selling, general and administrative expenses decreased as a percentage of Net sales due to lower advertising expenses as a percentage of Net sales.

   

Recent new product introductions contributing to sales in the U.S. include Science Diet Ideal Balance Canine, which combines natural ingredients with the power of advanced nutrition in one balanced package, Science Diet Savory Stew Canine, Science Diet Age Defying Feline (11 years plus), Prescription Diet y/d Feline Thyroid Health and the relaunch of Prescription Diet c/d Multicare Feline Bladder Health with evidence of improved efficacy and taste.

   

New pet food products contributing to international sales include reformulated Prescription Diet r/d Canine and Feline, the relaunch of Prescription Diet c/d Multicare Feline Bladder Health with evidence of improved efficacy and taste, Science Diet Mature Adult Light Canine and Feline, and reformulated Science Plan Adult Feline.

  

Read the entire report

PetHealth Announces Q2 Results

Pethealth Inc. ("Pethealth" or "the Company") (TSX:PTZ) today announced its financial results for the quarter and six months ended June 30, 2011.

According to the company financial highlights for Q2 include:

• Total revenue for the quarter ended June 30, 2011 was $8.2 million, up 4% from Q2 2010
• Net income, before taxes, was $705,000, up 239% from the prior year
• Net income, after taxes, for the quarter was $552,000 ($0.017 per share) compared to prior year's after tax net income of $708,000 ($0.022 per share), including a tax recovery of $500,000 in the prior year
• EBITDA for the quarter was $1.15 million compared to EBITDA of $659,000 for the same period in the prior year, up 75%
• Adjusted EBITDA was $1.15 million for Q2 2011 vs. $785,000 for the same period in the prior year, up 47%
• Foreign exchange had a significant impact on year over year quarterly results particularly the 6% appreciation of the Canadian dollar against the U.S. dollar

According to the company financial highlights for the six months ended 30June2011 include:

• Total revenue for the six months ended June 30, 2011 was $16.1 million, down 1% from 2010
• Net income, before taxes, was $1.45 million, up 70% from the prior year
• Net income, after taxes, for the six months ended was $1.16 million ($0.017 per share after giving effect to the $585,000 dividend payment made in the first quarter of 2011) compared to prior year's after tax net income of $1.27 million ($0.020) per share after giving effect to the $585,000 dividend payment made in the first quarter of 2010 and which included a $500,000 tax recovery in the second quarter of 2010
• EBITDA for the six months was $2.36 million compared to EBITDA of $1.76 million for the same period in the prior year, up 34%
• Adjusted EBITDA was $2.38 million for the six months vs. $1.8 million for the same period in the prior year, up 32%
• Foreign exchange had a significant impact on year over year six month results particularly the 6% appreciation of the Canadian dollar against the U.S. dollar.

The full report is available here.