Current Press

2018 ProPhase Labs Annual Report

ProPhase Labs Reports Financial Results for the Three and Six Months Ended June 30, 2020

08-11-2020 15:02:00
Press Release

DOYLESTOWN, Pennsylvania, August 11, 2020 – ProPhase Labs, Inc. (NASDAQ: PRPH,www.ProPhaseLabs.com) today announced net sales of $3.6 million for the three months ended June 30,2020, compared to net sales of $1.7 million for the three months ended June 30, 2019. The Company recognized net income for the three months ended June 30, 2020 of $70,000, or $0.01 per share, comparedto a net loss of $1.2 million, or ($0.11) per share, for the three months ended June 30, 2019.

Results for the second quarter of 2020 compared to the second quarter of 2019 principally reflect the neteffect of (i) an increase in net sales of $1.9 million due to an increase in third party customer orders, (ii) adecrease in administrative costs of $62,000 due principally to a decrease in professional fees, (iii) a decreasein sales and marketing expenses of $217,000 resulting from a reduction in marketing initiatives and (iv) adecrease in research and development expenditures of $30,000.

The Company generated net sales for the six months ended June 30, 2020 of $5.5 million, as compared to$4.0 million for the six months ended June 30, 2019. The Company incurred a net loss for the six monthsended June 30, 2020 of $0.7 million, or (0.06) per share, as compared to a net loss of 2.3 million, or (0.19)per share, for the six months ended June 30, 2019.
Results for the six months ended June 30, 2020 as compared to the six months ended June 30, 2019principally reflect the net effect of (i) an increase in net sales of $1.5 million due to an increase in thirdparty customer orders, (ii) a decrease in administrative costs of $268,000 due principally to a decrease inprofessional fees, (iii) a decrease in sales and marketing expenses of $313,000 resulting from a reductionin marketing initiatives and (iv) a decrease in research and development expenditures of $65,000.

About the Company

We are a manufacturing and marketing company with deep experience with OTC consumer healthcareproducts and dietary supplements. We are engaged in the research, development, manufacture, distribution,marketing and sale of OTC consumer healthcare products and dietary supplements in the United States.This includes the development and marketing of dietary supplements under the TK Supplements®brand.In addition, the Company also continues to actively pursue acquisition opportunities for other companies,technologies and products inside and outside the consumer products industry. For more information visitus at www.ProPhaseLabs.com.

Investor Contact

Ted Karkus, Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111

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