MusclePharm Corporation (OTCBB:MSLP), one of the fastest growing nutritional supplement companies in the United States, announced their preliminary financial results for the third quarter ending September 30, 2010.
On a preliminary basis, the Company expects revenues for the third quarter of 2010 to be approximately $1.4 million, compared to revenues of $232,488 for the third quarter of 2009, and revenues of $468,109 for the second quarter of 2010. Gross Margin for the third quarter of 2010 is expected to be 34% or $480,000 compared to a negative gross margin of 6.5% or a loss of $15,139 in the third quarter of 2009. Gross margin for second quarter of 2010 was 22.8%, or $106,859.
The Company ended the third quarter of 2010 with $897,500 of notes payable. This is a decrease of 48% compared to notes payable of $1,737,500 as of the end of the second quarter of 2010.
Commenting on the preliminary results, Brad Pyatt, Chief Executive Officer said, "We are very pleased with the 300% revenue growth and over 10% margin improvement we achieved during the third quarter. Our expanding product line combined with the rapidly growing online and retail distribution has us well positioned for continued growth in the future."
MusclePharm is a rapidly expanding healthy life-style company that develops and manufactures a full line of NSF and scientifically approved, nutritional supplements that are 100% free of any banned substances. Based on years of research, MusclePharm products are created through an advanced six-stage research protocol involving the expertise of top nutritional scientists and field tested by more than 100 elite professional athletes from various sports including the NFL, MMA, and MLB. The Company's propriety and award winning products address all categories of an active lifestyle including muscle building, weight loss, and maintaining general fitness through a daily nutritional supplement regimen. MusclePharm is sold in over 120 countries and available in over 5,000 US retail outlets that include GNC, and Vitamin Shoppe, as well as over 100 online stores, including bodybuilding.com, Amazon and Vitacost.com.
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Progress Energy Inc. (NYSE:PGN) announced third-quarter GAAP earnings of $361 million, or $1.23 per share, compared with GAAP earnings of $247 million, or $0.88 per share, for the same period last year. Prior-year results include a charge of $101 million, net of tax, or $0.36 per share, to discontinued operations related to a litigation verdict. Third-quarter ongoing earnings were $361 million, or $1.23 per share, compared to $342 million, or $1.22 per share, for the same period last year. The significant drivers in ongoing earnings per share were favorable weather in the Southeast and lower depreciation and amortization in Florida, primarily offset by increased O&M, share dilution and interest expense.
Progress Energy, Inc., an utility holding company, together with its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in North Carolina, South Carolina, and Florida. It uses coal, oil, hydroelectric, natural gas, and nuclear power to generate electricity.
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Johnson Controls Inc. (NYSE:JCI) ranked No. 14 of America’s 500 largest corporations by Newsweek’s Green Rankings. The company placed second in its sector of consumer products and cars. Each company was given a Green Score, which is calculated using three component scores: Environmental Impact Score, Green Policies Score and Reputation Score. Johnson Controls’ Green Score was 90.94 out of 100. Newsweek’s ranking of Johnson Controls recognizes the commitment of our 130,000 employees throughout the world have to advancing our environmental leadership,” commented Stephen Roell, Chairman, President and Chief Executive Officer.
Johnson Controls, Inc. operates in building efficiency, automotive experience, and power solutions businesses worldwide. The company’s building efficiency business designs, produces, markets, and installs integrated heating, ventilating, and air conditioning systems, as well as building management systems, controls, and security and mechanical equipment.
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Cameron International Corporation (NYSE:CAM) Board of Directors has elected Cameron President and Chief Executive Officer Jack B. Moore as Chairman of the Board, effective May 3, 2011, the date of the Company’s next annual shareholder meeting. In keeping with the Company’s established succession plan, Moore will replace retiring Chairman Sheldon R. Erikson, who will continue to serve as a director of Cameron. Moore, 57, joined Cameron in 1999 and has been president and chief executive officer since April 2008. Erikson, 69, has been chairman of the board since 1996 and served as the Company’s chief executive officer until he was succeeded in that position by Moore. Erikson began his tenure at Cameron as president and chief executive officer when the Company was created in 1995.
Cameron International Corporation provides flow equipment products, systems, and services to oil, gas, and process industries worldwide. The company operates through three segments: Drilling & Production Systems, Valves & Measurement, and Compression Systems.
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