Medifast, the producer of weight loss products, has reported first quarter sales up 33 per cent to $1.7 million (€1.87m) from $1.3 million a year earlier.
Expenses increased by 88 per cent as a result of a new advertising and marketing campaign introducing new products, such as the diabetic product announced last week. Income from operations and net income were approximately the same as last year at $302,000 and $238,000 respectively.
Medifast has achieved ten consecutive quarters of profit since it restructured the company in 1999. The company said it expected to drive revenues to new levels of success to ensure profitable growth and increased shareholder value.