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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): May 4, 2011 
______________________RBC Life Sciences, Inc.______________________
(Exact name of registrant as specified in its charter)
_______NEVADA_______
(State or other jurisdiction
of incorporation)
_______000-50417_________
(Commission
File Number)
_______91-2015186________
(IRS Employer
Identification No.)
2301 CROWN COURT, IRVING, TEXAS
(Address of principal executive offices)
____________75038_____________
(Zip Code)
Registrant's telephone number, including area code __________972-893-4000______________
__________________________N/A____________________________
(Former name or former address, if changed since last report)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 

 

Item 2.02 Results of Operations and Financial Condition.
 
On May 4, 2011, RBC Life Sciences, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2011. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
 
In accordance with General Instruction B.2 of Form 8-K, this information, including the exhibit related hereto, is furnished pursuant to Item 2.02 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
 
 
Item 9.01 Financial Statements and Exhibits.
(d)    Exhibits
Exhibit No.    Description
99.1    Press release dated May 4, 2011 announcing financial results for the quarter ended March 31, 2011.
 
 
 
 
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
Date: May 5, 2011 
 
                            
RBC Life Sciences, Inc.
 
By: /s/ Steven E. Brown
Name: Steven E. Brown
Title: Chief Financial Officer
 
 
 
 
 

 

 

Exhibit Index
 
Exhibit Number
Description
99.1
Press release dated May 4, 2011, announcing financial results for the quarter ended March 31, 2011
    
 

 
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EXHIBIT 99.1
 
RBC Life Sciences® 
May 4, 2011  
 
RBC Life Sciences Reports First Quarter 2011 Results
 
Irving, Texas (RBC Life Sciences: OTCBB: RBCL) - RBC Life Sciences, Inc., a provider of proprietary nutritional supplements, wound care and pain management products, today reported consolidated net sales of $6.54 million for the quarter ended March 31, 2011, compared to net sales of $6.98 million for the same period during 2010. The Company also reported net earnings of $143,000, or $0.01 per share, compared to net earnings of $211,000, or $0.01 per share, for the same quarter last year.
 
“Due to a variety of logistical factors, net sales in our largest revenue channel declined during the first quarter of 2011 resulting in an overall decline in consolidated net sales,” said RBC Life Sciences President and CEO, Clinton H. Howard. “However, we saw a 37% increase in Associate network sales during the quarter, and the number of individuals who joined our Associate network more than doubled. This growth is the result of a program we introduced in March 2010 that allows customers in Southeast Asia to enroll in the Associate network and purchase our Nutritional Products. Because of the very positive reception in this market, we plan to open a branch office in Taiwan later this year.”
 
During the first quarter of 2011, the Company also reported a 10% increase in net sales of Medical Products to $1.72 million.
 
About RBC Life Sciences
Through wholly owned subsidiaries, RBC Life Sciences develops, manufactures and markets high-quality nutritional supplements and personal care products under its RBC Life brand to a growing population of consumers seeking wellness and a healthy lifestyle. Through its wholly owned subsidiary, MPM Medical, the Company also develops and markets to health care professionals in the United States proprietary prescription and nonprescription products for advanced wound care and pain management. All products are tested for quality assurance in-house, and by outside independent laboratories, to comply with regulations in the U.S. and in more than thirty countries in which the products are distributed. For more information, visit the company's website at www.rbclifesciences.com.
 
The statements above, other than statements of historical fact, may be forward-looking. Actual events will be dependent upon a number of factors and risks including, but not limited to, changes in plans by the Company's management, delays or problems in production, changes in the regulatory process, changes in market trends, and a number of other factors and risks described from time to time in the Company's filings with the Securities and Exchange Commission.
 
Contacts:
Steve Brown
972-893-4000
steve.brown@rbclifesciences.com

 

 

RBC Life Sciences - First Quarter 2011 
Page 2
 
RBC Life Sciences, Inc.
Summary Results of Operations
(in thousands, except per share data)
(unaudited)
 
 
Quarters Ended March 31,
 
2011
 
2010
Net sales
$
6,538
 
 
$
6,982
 
Gross profit
3,316
 
 
3,389
 
Operating profit
262
 
 
400
 
Earnings before income taxes
225
 
 
361
 
Provision for income taxes
82
 
 
150
 
Net earnings
143
 
 
211
 
 
 
 
 
Earnings per share - basic
$
0.01
 
 
$
0.01
 
Earnings per share - diluted
0.01
 
 
0.01
 
 
 
 
 
Weighted average shares outstanding - basic
22,229
 
 
21,922
 
Weighted average shares outstanding - diluted
22,541
 
 
22,270
 
 
 
 
RBC Life Sciences, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
 
 
March 31,
 
December 31,
 
2011
 
2010
Assets
 
 
 
Cash and cash equivalents
$
5,448
 
 
$
4,220
 
Inventories
4,742
 
 
5,343
 
Other current assets
1,784
 
 
1,696
 
Total current assets
11,974
 
 
11,259
 
Other assets
7,034
 
 
7,085
 
Total assets
$
19,008
 
 
$
18,344
 
 
 
 
 
Liabilities and shareholders' equity
 
 
 
Accounts payable and accrued liabilities
$
2,937
 
 
$
3,087
 
Deferred revenue
3,195
 
 
2,490
 
Other current liabilities
172
 
 
168
 
Total current liabilities
6,304
 
 
5,745
 
Other liabilities
2,678
 
 
2,723
 
Shareholders' equity
10,026
 
 
9,876
 
Total liabilities and shareholders' equity
$
19,008
 
 
$
18,344