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Youngevity International reports 1Q revenue rose 31% to a record $56.3 million

The California-based lifestyle company reiterated revenue guidance for 2019 as it ramps up its commercial hemp (CBD) segment
Youngevity offers an array of health and nutrition products as well as coffee, essential oils and spa and beauty services

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.

READ: Youngevity International partners with Icelandic Glacial

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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