Youngevity International (NASDAQ: YGYI), a multi-channel lifestyle company operating in three distinct business segments including its newly acquired commercial hemp enterprise, on Monday reported financial results for the three and nine months ended September 30, 2019. The company reported that revenues for the third quarter decreased 13% to $34,017,000 as compared to $39,082,000 during the same period in 2018. The company also hosted a conference call on Monday to discuss its financial results, quarterly and yearly highlights and business outlook. A replay of the webcast will be available on the Investors section of the company’s website. “We are not pleased with Q3’s performance, however, we are confident that we made the appropriate moves in Q3 pivoting our commercial hemp enterprise business model. The decision to expand Khrysos Industries into an 82,000 square foot, pharma grade, post processing facility has prolonged the period of time we will operate our commercial hemp enterprise on a pre-revenue basis, however, ultimately this decision is expected to accelerate our ability to compete, scale, and grow profitable revenue as we close out 2019 and move into 2020,” Youngevity International president and CFO Dave Briskie stated in the news release.
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About Youngevity International Inc.
Youngevity International Inc. is a multi-channel lifestyle company operating in three distinct business segments, including a commercial coffee enterprise, a commercial hemp enterprise and a multi-vertical omni direct selling enterprise. The company features a multi country selling network and has assembled a virtual Main Street of products and services under one corporate entity. YGYI offers products from the six top-selling retail categories: health/nutrition, home/family, food/beverage (including coffee), spa/beauty, apparel/jewelry and innovative services. For more information, visit the company’s website at www.YGYI.com.
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