Ryan Blair, Chief Executive Officer of ViSalus, stated, "We have identified over $18 million dollars of cost saving opportunities within our business to free up capital for investment in international expansion, new product development and information technology innovation. By the end of 2014, we will have invested over $13 million to open six new markets, including the UK, which we opened in 2013, as well as Germany and Austria, into which we began shipping during the first quarter."
ViSalus also announced today fourth quarter 2013 sales of $62.9 million. The Company had approximately 35,000 qualified independent promoters in North America and nearly 2,500 qualified promoters internationally at the end of the fourth quarter.
Mr. Blair noted, "The fourth quarter is typically our seasonal low point for sales, during which we prepare for the January weight management season. Following a successful North American pilot in 2013 and with continued investment in 2014, we refined the Body by Vi Challenge further by providing a call to action in which promoters and customers challenge others to improve their health and lose 10 pounds, or build 10 pounds of lean muscle, with Project 10. Early indicators suggest that Project 10 participants are having even more success achieving their health and fitness goals than their non-participating peers."
