-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DLIumxO3DghffajrMHc+fmxMFnZzpcC7x7fxn6bbwUbBd499eMzqEI8Rq2UgxRSu ACX/9qHiGVCSkUxeM3Qt0A== 0001169232-03-004975.txt : 20030807 0001169232-03-004975.hdr.sgml : 20030807 20030807122923 ACCESSION NUMBER: 0001169232-03-004975 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030806 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030807 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RELIV INTERNATIONAL INC CENTRAL INDEX KEY: 0000768710 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 371172197 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19932 FILM NUMBER: 03828240 BUSINESS ADDRESS: STREET 1: 136 CHESTERFIELD INDUSTRIAL BLVD STREET 2: P O BOX 405 CITY: CHESTERFIELD STATE: MO ZIP: 63006-0405 BUSINESS PHONE: 3145379715 MAIL ADDRESS: STREET 1: 136 CHESTERFIELD INDUSTRIAL BLVD STREET 2: P O BOX 405 CITY: CHESTERFIELD STATE: MO ZIP: 63006-0405 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN LIFE INVESTORS INC DATE OF NAME CHANGE: 19920315 8-K 1 d56486_8-k.txt CURRENT REPORT U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): August 6, 2003 RELIV INTERNATIONAL, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 1-11768 37-1172197 (State or Other (Commission File Number) (IRS Employer Jurisdiction Identification No.) Incorporation) 136 Chesterfield Industrial Blvd., Chesterfield, MO 63005 (Address of Principal Executive Offices) (Zip Code) (636) 537-9715 (Registrant's Telephone Number, including Area Code) Item No. 7 - Exhibit (c) The following exhibit is attached hereto: Exhibit No. Exhibit ----------- ------- 99 Press Release dated August 6, 2003 captioned: "Reliv' International Reports Strong Growth in Sales, Earnings for 2Q and First Half of 2003" Item No. 12 - Results of Operations and Financial Condition On August 6, 2003, Reliv' International, Inc. issued a press release reporting earnings and other financial results for its second quarter ended June 30, 2003. A copy of the Press Release is attached as Exhibit 99. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Reliv International, Inc. ------------------------------------ (Registrant) Date: August 7, 2003 By: /s/ Stephen M. Merrick ------------------------------------ Stephen M. Merrick, Senior Vice President 3 EX-99 3 d56486_ex-99.txt PRESS RELEASE EXHIBIT 99 NEWS RELEASE FOR FURTHER INFORMATION, CONTACT: David G. Kreher Fred A. Nielson Chief Operating Officer Investor Relations (636) 537-9715 (636) 733-1314 Reliv International Reports Strong Growth in Sales, Earnings for 2Q and First Half of 2003 FOR IMMEDIATE RELEASE CHESTERFIELD, MO, August 6, 2003 - Reliv International, Inc. (Nasdaq/NM - RELV), an international manufacturer and network marketer of nutritional supplements and other food technology products, today announced its results of operations for the quarter and six months ended June 30, 2003. The company reported strong increases in net sales and net income, driven by the growth of its network marketing activities in the United States and other key markets worldwide. For the second quarter of 2003, Reliv reported net income available to common shareholders totaling $909,000 (or $0.08 per share basic, or $0.07 diluted). This represents a 45 percent increase over the $625,000 in net income (or $0.06 per share basic, $0.05 per share diluted), reported in the prior-year period. For the six months ended June 30, 2003, the company reported net income available to common shareholders of $1,886,000 (or $0.16 per share basic, or $0.14 diluted), a 74 percent increase over the $1,084,000 (or $0.10 per share basic, $0.09 diluted) in net income available to common shareholders reported for the first half of 2002. Reliv net sales also showed strong growth in the second quarter period, and in the first half of 2003. Net sales totaled $17.8 million in 2Q 2003, up 16 percent from $15.4 million in the same period last year. For the first six months of 2003, Reliv net sales surged to $36.4 million, an increase of 22 percent compared to $29.9 million in net sales for the first half of 2002. Robert L. Montgomery, President and Chief Executive Officer of Reliv, noted that sales in the United States - the company's largest geographic market - continued to set the pace for the company. Net sales in the U.S. grew 20 percent compared to 2Q 2002, he said, while the company's operations in Mexico and Canada also reported double-digit percentage increases in sales for the quarter. Reliv International, Inc. Mr. Montgomery said, "Our strong second quarter results reflect the impact of efforts to expand our network of independent distributors. We continue to see growth in the recruitment of new distributors in key geographic markets such as the United States, Canada and Mexico. We're also excited about the potential for growth in Malaysia - where we were recently licensed to begin operations. All of these developments should provide a solid foundation for continued growth in the months ahead." Reliv International, Inc., based in suburban St. Louis (USA), manufactures and distributes several lines of food products, including nutritional and fiber supplements, diet management products, functional foods, sports drink mixes and premium skin care products. Its proprietary product lines include an extensive line of soy-based products. Reliv International's common stock trades on The Nasdaq Stock Market(R) under the symbol RELV. The Company will host an earnings conference call at 1:00 p.m. Eastern on Wednesday, August 6, 2003. The call can be accessed via listen-only dial-in conference lines by dialing 913-981-4900. A replay of this call will be available by telephone from 3:00 p.m. Eastern until midnight by calling 719-457-0820 and using the password 241882. To listen to the live call, please call at least 10 minutes before the scheduled conference call to register. A live webcast of this call will be available through the Investor Relations section of the Company's Web site, http://www.reliv.com/us/investor. An online archive of the broadcast will be available on the Company's Web site in the Investor Relations section shortly after the call concludes. # # # NOTE: Any statement released by Reliv International, Inc. that is forward looking is made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospect and performance. This includes economic, competitive, governmental, technological and other factors discussed in the Company's filings with the SEC on forms 10-K and 10-Q. Reliv International, Inc. and Subsidiaries ADD TWO Consolidated Balance Sheets
June 30 December 31 2003 2002 ------------------------------ (Unaudited) Assets Current Assets: Cash and cash equivalents $ 6,675,228 $ 3,437,966 Accounts and notes receivable, less allowances of $5,000 in 2003 and 2002 529,931 688,898 Accounts due from employees and distributors 105,000 104,000 Inventories 4,586,215 3,457,145 Other current assets 1,030,738 744,431 ------------------------------ Total current assets 12,927,112 8,432,440 Other assets 526,761 442,927 Note receivable from officer 27,750 48,250 Accounts due from employees and distributors 64,000 78,000 Net property, plant and equipment 9,309,749 9,444,369 ------------------------------ Total Assets $ 22,855,372 $ 18,445,986 ============================== Liabilities and Stockholders' Equity Total current liabilities 7,278,437 6,039,513 Long-term debt, less current maturities 3,823,631 4,057,042 Deferred income taxes 84,435 84,435 Other non-current liabilities 521,396 467,350 Stockholders' equity 11,147,473 7,797,646 ------------------------------ Total Liabilities and Stockholders' Equity $ 22,855,372 $ 18,445,986 ==============================
Consolidated Statements of Operations
Three months ended June 30 Six months ended June 30 2003 2002 2003 2002 ------------------------------ ---------------------------- (Unaudited) (Unaudited) (Unaudited) (Unaudited) Sales at Retail $ 25,407,802 $ 22,001,451 $52,263,966 $ 42,859,961 Less Distributor allowances on product purchases 7,641,155 6,552,420 15,825,869 12,926,646 ------------------------------ ---------------------------- Net Sales 17,766,647 15,449,031 36,438,097 29,933,315 Costs and expenses: Cost of products sold 3,008,695 2,915,799 6,316,413 5,672,509 Distributor royalties and discounts 6,914,507 5,912,303 14,169,705 11,484,361 Selling, general and administrative 6,321,793 5,594,051 12,692,777 10,868,810 ------------------------------ ---------------------------- Total Costs and Expenses 16,244,995 14,422,153 33,178,895 28,025,680 ------------------------------ ---------------------------- Income from operations 1,521,652 1,026,878 3,259,202 1,907,635 Other income (expense): Interest income 24,162 9,150 39,904 15,639 Interest expense (69,961) (97,818) (138,008) (219,276) Other income\expense 84,187 62,001 61,504 68,757 ------------------------------ ---------------------------- Income before income taxes 1,560,040 1,000,211 3,222,602 1,772,755 Provision for income taxes 629,000 375,000 1,314,000 689,000 ------------------------------ ---------------------------- Net Income 931,040 625,211 1,908,602 1,083,755 Preferred dividends accrued and paid 22,500 -- 22,500 -- ------------------------------ ---------------------------- Net income available to common shareholders $ 908,540 $ 625,211 $ 1,886,102 $ 1,083,755 ================================================================ Earnings per common share Basic $ 0.08 $ 0.06 $ 0.16 $ 0.10 ============================== ============================ Diluted $ 0.07 $ 0.05 $ 0.14 $ 0.09 ============================== ============================ Weighted average shares of common stock and common stock equivalents outstanding Basic 11,962,000 11,292,000 11,966,000 11,329,000 ============================== ============================ Diluted 13,668,000 12,157,000 13,501,000 12,194,000 ============================== ============================
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