DOYLESTOWN, Pennsylvania, March 25, 2020 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com) today announced its net sales were $9.9 million for the year ended December 31, 2019, as compared to net sales of $13.1 million for the year ended December 31, 2018.
The Company incurred a net loss from continuing operations for the year ended December 31, 2019 of $3.1 million, or ($0.27) per share, as compared to a loss of $1.6 million, or ($0.14) per share, for the year ended December 31, 2018. The Company incurred loss from discontinued operations for the year ended December 31, 2019 of $40,000, or ($0.00) per share, as compared to loss of $170,000, or ($0.01) per share, for the year ended December 31, 2018. The Company incurred net loss for the year ended December 31, 2019, of $3.1 million, or ($0.27) per share, as compared to a loss of $1.7 million, or ($0.15) per share, for the year ended December 31, 2018.The financial results for the year ended December 31, 2019 as compared to the year ended December 31, 2018 principally reflect the net effect of (i) a decrease in net sales of $3.2 million principally due to a decrease in demand of third party customer orders, (ii) a decrease in administration costs of $430,000 due principally to a decrease in professional and legal costs, (iii) a decrease in sales and marketing expenses of $65,000 as a consequence of a reduction in marketing initiatives and (iv) a decrease in research and development expenditures of $66,000.About the Company
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