* New Membership up approximately 300 percent over the 2006 first quarter * Autoship Orders up approximately 15 percent over the 2006 first quarter
BURNABY, B.C., May 17, 2007 (PRIME NEWSWIRE) -- EYI Industries, Inc. ("EYI") (OTCBB:EYII), a marketer of products that promote well-being and a healthy lifestyle, today announced financial results for the 2007 first quarter ended March 31, 2007.
Sales for the 2007 first quarter were $1,181,166 compared to $1,108,759 for the comparable 2006 period. Gross profit after costs of goods sold and commission expense was $401,226, or nearly 34.0 percent of sales for the 2007 first quarter, compared with $435,364, or 39.3 percent of sales for 2006 first quarter. Net loss for the 2007 first quarter was $1,602,198, compared to a net loss of $875,922 for the 2006 comparable quarter.
Jay Sargeant, President and Chief Executive Officer, said, "Revenues for the 2007 first quarter grew 6.5 percent as a result of new IBA's and increased sales of our Ultimate ME2 product. Most important, during the quarter new membership increased approximately 300 percent from the 2006 first quarter and autoship orders increased approximately 15 percent over the same 2006 period. Autoship sales are recurring in nature and management is pleased with the first quarter results."
This press release is available on the company's official online investor relations site for investor commentary, feedback and questions. Investors are asked to visit the EYI Industries IR Hub located at www.agoracom.com/IR/EYI, Alternatively, investors can e-mail AGORACOM Investor Relations directly at EYII@Agoracom.com.
About EYI (http://www.eyicom.com)
EYI Industries Inc., through our subsidiary, Essentially Yours Industries, Inc. (EYI), markets products that promote health, well-being and lifestyle. Recently, EYI announced the exclusive marketing rights for ULTIMATE ME2, a proven, tested, and environmentally friendly, non-metallic and non-polluting fuel performance product. ULTIMATE ME2 enhances and creates efficient combustion that cools the engine of your vehicle. This means fewer emissions for the environment, a smoother running engine and money in your pocket as you reduce fuel consumption which in turn reduces fuel costs. EYI also distributes a consumer product that reduces Arsenic and other contaminates to a negligible level from drinking water. The portable water filtration product's name is Code Blue(tm) and is exclusively provided to EYI. In addition, EYI sells dietary supplements and personal care products. A large portion of our sales are from CALORAD(r), a liquid protein supplement that has brought weight loss benefits to our customers. More than six million bottles of CALORAD(r) have been sold since EYI was founded in 1995. PROSOTEINE(r) is a revolutionary and safe nutritional supplement that gives your body a boost that not only supports you in the moment but also rebuilds your body, cell by cell, bringing our customers the benefits of a natural Energy drink. PROSOTEINE(r) is experiencing similar success to CALORAD(r).
EYI markets its products through an extensive network of Independent Business Associates. Our sales force is staffed by knowledgeable, experienced men and women and are supported by our comprehensive training programs.
The EYI Industries Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2202
This press release contains forward-looking statements, particularly as related to, among other things, EYI's product purchase agreements and EYI's business strategy. The words or phrases "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be canceled, and other factors that may cause EYI's actual results, performance or achievements, or developments in its industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the enforceability of its product purchase contracts in foreign countries, the performance of EYI's staff, management, financing, competition, EYI's ability to implement or manage its expansion strategy, general economic conditions and other factors that are detailed in EYI's Annual Report on Form 10-KSB and on documents EYI files from time-to-time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. EYI cautions readers not to place undue reliance on such statements. EYI does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the EYI's expectations and estimates.