MusclePharm hits $28.5 million in sales in second quarter

By Hank Schultz

- Last updated on GMT

MusclePharm hits $28.5 million in sales in second quarter
MusclePharm Corporation, a Denver, CO-based manufacturer of sports nutrition products, continued its meteoric rise by posting a 51% rise in net sales in the second quarter of 2013.

In the quarter the company recorded gross gross sales prior to accounting for discounts and sales allowances of $28.5 million an increase of 51% as compared to $18.9 million for the second quarter of 2012 ("Q2 2012"). Gross sales were up 14% over the first quarter of 2013. Net sales in Q2 2013 gross sales grew sequentially by 14% as compared to Q1 2013. For Q2 2013, the Company reported record net sales were $25.5 million, an increase of 65% as compared to $15.4 million for the same period a year earlier.

MusclePharm also was able to reduce the cost of sales; discounts and sales allowances in Q2 2013 decreased to approximately $3 million, or 11% of gross sales as compared to approximately $3.4 million, or 18% of gross sales in Q2 2012.

A $3 million outlay on consulting services pushed MusclePharm’s losses higher, though. The company recorded a loss from operations of $2.7 million, as compared to a loss from operations of $1.7 million in the same period a year earlier.

"We continue to record robust sales growth on both a year-over-year and sequential basis. The results are consistent with our near term strategic focus of aggressively growing sales and increasing brand awareness,"​ said Brad Pyatt, MusclePharm CEO.

MusclePharm manufactures and markets a range of protein, pre workout and supplement products.  The company recently made news by finalizing a deal with Arnold Schwarzenegger to develop a range of branded sports nutrition products.

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