U.S. Sales Lead Reliv Charge

U.S. Sales Lead Reliv Charge

CHESTERFIELD, Mo.On thestrength of big gains in U.S. sales, Reliv International (NASDAQ:RELV) postedsubstantial increases to both revenues and earnings for its 2004 fiscal year.Fourth quarter gains were slimmer and included one-time charges related to a fewkey upgrade initiatives.

For the year, revenues hit $97.0 million, a 26-percent rise,while earnings available to shareholders reached $5.37 million or $0.34 perbasic share, a 24-percent jump from $4.34 million or $0.29 per basic shareearned the year prior. Reliv management noted 2004 results were achieved withoutmajor product introductions, adding U.S. sales have grown at least 20 percent ineach of the last 11 quarters. For the year, U.S. sales grew by 27 percent, whileinternational sales rose 18 percent, led by Canada, Australia, New Zealand, thePhillipines and the United Kingdom.

Fourth quarter earnings inched up only 2 percent to $1.28million or $0.08 per share, despite a 21.5-percent rise in sales compared to thesame quarter in 2003. One-time charges for a manufacturing equipment upgrade, aswell as costs associated with internal control upgrades in compliance to Section404 of the Sarbanes-Oxley Act, contributed to the quarters earnings growthreduction.