Shares of MusclePharm Corp. (OTC: MSLP) soared on Friday, rising 40.59% to finish the day at $0.0239 on above average volume.
The rally came ahead of the release of MSLP’s preliminary 2012 first-quarter financial results. This morning, the Denver, Colorado-based company, which develops and manufactures a full-line of NSF International and Informed Choice approved nutritional supplements, reported net sales of approximately $19 million for the first three months of 2012. This is more than a fourfold increase from $4 million reported in the first quarter of 2011.
Brad Pyatt, CEO of MusclePharm, said that for the 2012 first quarter, units sold of MSLP’s two top products increased dramatically to 770,000, compared with units sold of 78,000 for the same two products in the last year’s first quarter. Pyatt also noted that during the quarter, MSLP launched new products with a combined total of 300,000 units sold.
MusclePharm’s international sales surged 400% to $4 million in the first quarter of 2012.
MSLP reported income from operations of $1 million, compared with loss from operations of $1 million in the first quarter of 2011.
MSLP expects to release its complete first-quarter financial results on or before May 15, 2012.
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