Current Press

2018 ProPhase Labs Annual Report

ProPhase Labs Reports Financial Results for the Three Months Ended March 31, 2020

05-12-2020 13:56:57
Press Release

DOYLESTOWN, Pennsylvania, May 12, 2020 – ProPhase Labs, Inc. (NASDAQ: PRPH,www.ProPhaseLabs.com) today announced net sales of $1.9 million for the three months ended March 31,2020, compared to net sales of $2.3 million for the three months ended March 31, 2019.

The Company incurred a net loss for the three months ended March 31, 2020 of $809,000, or ($0.07) pershare, compared to a net loss of $1.0 million or ($0.09) per share, for the three months ended March 31,2019.

The financial results for the first quarter of 2020 compared to the first quarter of 2019 principally reflectthe net effect of a decrease in net sales of $430,000 due to a decrease in demand of third party customerorders, offset by (i) a decrease in administrative costs of $206,000 due principally to a decrease inprofessional fees, (ii) a decrease in sales and marketing expenses of $96,000 as a consequence of a reductionin marketing initiatives and (iii) a decrease in research and development expenditures of $35,000.

In addition on May 4, 2020, the Company resolved the final pending claim against the Company’s escrow accountwith Mylan and as a result the remaining funds, totaling $4.8 million, were released from the escrow account tothe Company on May 7, 2020.

About the Company

We are a manufacturing and marketing company with deep experience with OTC consumer healthcareproducts and dietary supplements. We are engaged in the research, development, manufacture, distribution,marketing and sale of OTC consumer healthcare products and dietary supplements in the United States.This includes the development and marketing of dietary supplements under the TK Supplements® brand.

In addition, the Company also continues to actively pursue acquisition opportunities for other companies,technologies and products inside and outside the consumer products industry. For more information visitus at www.ProPhaseLabs.com.

Investor Contact

Ted Karkus, 

Chairman and CEO
ProPhase Labs, Inc.
(267) 880-1111

(tables follow)