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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): March 8, 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 March 8, 2011, RBC Life Sciences, Inc. (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2010. A copy of the press release is being 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, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any disclosure document of the Company, except as shall be expressly set forth by specific reference in such document.
 
 
Item 9.01 Financial Statements and Exhibits.
(d)    Exhibits
Exhibit No.    Description
99.1    Press release dated March 8, 2011 announcing financial results for the year ended December 31, 2010.
 
 
 
 
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: March 9, 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 March 8, 2011, announcing financial results for the year ended December 31, 2010
    
 

 
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EXHIBIT 99.1
 
RBC Life Sciences® 
March 8, 2011  
 
RBC Life Sciences Reports Sales and Earnings Growth in 2010
 
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 a 13% increase in consolidated net sales to $28.2 million for the year ended December 31, 2010, compared to net sales of $24.9 million for the same period during 2009. For 2010, the Company reported net earnings of $558,000, or $0.02 per diluted share, compared to a net loss of $335,000, or $0.02 per diluted share, during 2009.
 
“We significantly improved our financial performance in 2010 reporting sales growth in both our Nutritional Products segment and Medical Products segment,” said RBC Life Sciences President and CEO, Clinton H. Howard. “We were particularly pleased to report sales growth of 22% to our international licensees, which is our largest revenue channel. This growth in sales along with expense reductions affected during 2010 resulted in an $893,000 improvement in net operating results and a return to profitability in 2010.”
 
During 2010, net sales of Nutritional Products increased 15% to $21.6 million while net sales of Medical Products increased 6% to $6.5 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 Web site 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 - Year 2010 
Page 2
 
RBC Life Sciences, Inc.
Summary Results of Operations
(in thousands, except per share data)
(unaudited)
 
 
Years Ended December 31,
 
2010
 
2009
Net sales
$
28,157
 
 
$
24,925
 
Gross profit
13,686
 
 
12,802
 
Operating profit (loss)
1,044
 
 
(160
)
Earnings (loss) before income taxes
891
 
 
(324
)
Provision for income taxes
333
 
 
11
 
Net earnings (loss)
558
 
 
(335
)
 
 
 
 
Earnings (loss) per share - basic
$
0.03
 
 
$
(0.02
)
Earnings (loss) per share - diluted
0.02
 
 
(0.02
)
 
 
 
 
Weighted average shares outstanding - basic
21,999
 
 
21,921
 
Weighted average shares outstanding - diluted
22,436
 
 
21,921
 
 
 
 
RBC Life Sciences, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
 
 
December 31,
 
2010
 
2009
Assets
 
 
 
Cash and cash equivalents
$
4,220
 
 
$
3,972
 
Inventories
5,343
 
 
5,344
 
Other current assets
1,696
 
 
1,914
 
Total current assets
11,259
 
 
11,230
 
Other assets
7,085
 
 
7,383
 
Total assets
$
18,344
 
 
$
18,613
 
 
 
 
 
Liabilities and shareholders' equity
 
 
 
Accounts payable and accrued liabilities
$
3,087
 
 
$
2,729
 
Deferred revenue
2,490
 
 
3,669
 
Other current liabilities
168
 
 
156
 
Total current liabilities
5,745
 
 
6,554
 
Other liabilities
2,723
 
 
2,840
 
Shareholders' equity
9,876
 
 
9,219
 
Total liabilities and shareholders' equity
$
18,344
 
 
$
18,613