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Amacore Group’ Q2, H1 Revenue Slips

Amacore spun-off its Zurvita division to Red Sun Mining on 30 July

The Amacore Group, a provider of membership benefit programs, insurance and other benefit solutions to individuals, families and employer groups, has reported the financial results for the three and six months ended June 30, 2009.

Amacore had spun-off its Zurvita division (Zurvita) to Red Sun Mining on July 30, 2009. Included in Amacore’s three and six month financial reports is information regarding Zurvita’s financial performance prior to the spin-off.

The revenue for the second quarter ending June 30, 2009 was $7.4 million compared to $7.6 million for the second quarter of 2008. For the six month period ended June 30, 2009, the revenue was $14.9 million as compared tio $12.7 million in same prior year period.

The company’s gross profit for the second quarter of 2009 was $2.6 million, compared to a gross profit of $2.4 million for the second quarter of 2008. The gross profit margin for the quarter was 34.5%, as compared to 31% in last year’s second quarter. The gross profit for the first six-months of 2009 was $5.3 million compared to $3.5 million in the year-ago comparable six-month period. The company’s gross profit margins were 35.8%, as compared to 27.2% for last year’s comparable period.