Youngevity International (NASDAQ:YGYI), a multi-channel lifestyle company, reported on Tuesday record revenue of $56.3 million in its first quarter.
The company, which sells everything from coffee to health foods, said revenue jumped by nearly 31%, compared to $43 million in revenue in the prior-year quarter.
Youngevity, based in Chula Vista, California, said 59% of the revenue came from its direct-selling segment and about 41% from its commercial-coffee segment.
The company also reported cash and cash equivalents of $2.5 million as March 31, compared to $2.8 million as of the end of December 2018.
CEO Steve Wallach said Youngevity reiterated its annual revenue guidance for 2019 in the range of $220 million and $240 million, as the company plans to ramp up its commercial hemp (CBD) segment.
The company’s stock recently traded flat at $6.61 a share.
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