Pompano Beach, April 25, 2013 (GLOBE NEWSWIRE) -- DS Healthcare Group, Inc. (NASDAQ: DSKX), a leading developer of hair care, facial care and other personal care products, announced today its Annual Report for 2012. Total net revenues increased $1,551,562, or 16%, from $9,672,861 for the year ended December 31, 2011 to $11,224,424 for the year ended December 31, 2012. Such expansion also resulted in an increase in operating expenses. While the company's net loss increased to a $3,623,110 net loss for the year ended December 31, 2012, the company anticipates recognizing revenues of approximately $2,000,000 of product orders during December 2012 that it was unable to fulfill prior to December 31, 2012. These product orders were subsequently shipped during the three months ended March 31, 2013.
The Company's chief executive officer, Daniel Khesin, stated, "2012 was a tremendous year for DS Healthcare. We launched new products, expanded into new markets, while increasing our presence in existing ones, commenced quotation on NASDAQ and completed our first acquisition. Our continued growth and expansion, while resulting in an increased net loss for the year, marked another record year of revenues. While our operational expenses increased, we believe such expenses have expedited our continued growth and expansion and we look forward to continued growth in 2013."
On April 18, 2013, the Company received a notice from NASDAQ indicating that the Company was not in compliance with one of NASDAQ's continued listing standards due to the delinquent filing of its annual report on Form 10-K for the year ended December 31, 2012 as set forth in NASDAQ Listing Rule 5250(c)(i). Upon filing of its annual report on April 24, 2013, the Company regained compliance with NASDAQ continued listing standards.
About DS Healthcare Group
DS Healthcare Group, Inc. is a leading developer of hair care, facial care and other personal care products. It markets through online and specialty retailers, distributors, cosmetics wholesalers and salons. Its brands include DS Laboratories (www.DSLaboratories.com), Sigma Skin (www.SigmaSkin.com), Polaris Research Laboratories (www.PolarisReserachLabs.com) and Pure Guild (www.ThePureGuild.com).
Forward-Looking Statements
Certain statements in this document and elsewhere by DS Healthcare Group are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes, without limitation, the business outlook, assessment of market conditions, anticipated financial and operating results, strategies, future plans, contingencies and contemplated transactions of the Company. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of company operations, or the performance or achievements of the company or industry results, to differ materially from those expressed, or implied by the forward-looking statements. DS Healthcare Group undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain factors, including those set forth in DS Healthcare Group's filings with the Securities and Exchange Commission.