SHENZHEN, China, May 27 /PRNewswire-Asia-FirstCall/ -- OmniaLuo, Inc. (‘OmniaLuo’ or the ‘Company’) (OTC Bulletin Board: OLOU), a China-based company engaged in the business of designing, developing, marketing and distributing fine women’s apparel under the brand name OMNIALUO, announced record operating results for the first quarter ended March 31, 2009.
OmniaLuo reported revenue of approximately $3.0 million for the quarter ended March 31, 2009, representing a small increase even though we are facing the economic downturn, compared to approximately $2.5 million for the quarter ended March 31, 2008.
Revenue from sales to independent distributors for the quarter ended March 31, 2009 was approximately $1.7 million (58% of total sales revenue for the period), as compared to approximately $1.67 million for the quarter ended March 31, 2008, representing a 2% increase.
Revenue from sales from Company-owned and co-owned stores for the quarter ended March 31, 2009 was approximately $1.2 million (41.8% of total sales revenue for the period), as compared to approximately $0.87 million for the quarter ended March 31, 2008, representing a 40% increase.
OmniaLuo reported overall gross profit of approximately $1.6 million for the three months ended March 31, 2009, (representing an overall gross profit margin of 53.1%), as compared with overall gross profit of $1,465,919 for the three months ended March 31, 2008 (representing an overall gross profit margin of 57.6%). The decrease in gross profit margin was mainly attributable to the aggressive discount promotions in most of the shopping malls. During the first quarter of 2009, due to negative impact of the global recession, consumers were unwilling to buy higher end clothes. As a result, most of the shopping malls were forced to deeply discount the merchandise to promote sales, which in turn cut into our overall gross profit margin for the first quarter of 2009.
OmniaLuo reported net income of approximately $0.3 million for the three months ended March 31, 2009, as compared with $0.5 million for the three months ended March 31, 2008, representing a decrease of 41.6% for the reasons described above.
Based on 22,840,000 shares outstanding on a weighted average basis as of March 31, 2009, OmniaLuo had a net income of approximately $0.01 per share for the quarter ended March 31, 2009, as compared to a net income of approximately $0.02 per share for the quarter ended March 31, 2008.
About OmniaLuo, Inc.
OmniaLuo, Inc. ( http://ir.omnialuo.com ), based in China’s fashion capital of Shenzhen, is in the business of designing, developing, marketing and distributing fine women’s apparel under the brand name OMNIALUO. OMNIALUO’s apparel embodies elegance, femininity and sophistication for China’s rapidly growing class of urban and affluent female professionals. Under the leadership of Cindy Luo, the founder, Chairwoman and Chief Designer of the Company, the Company has won numerous prestigious awards and was recently named by Cosmopolitan Magazine the "2008 Chinese Fashion Designer of the Year". OMNIALUO’s goal is to become the Chinese brand equivalent of Ralph Lauren, Vera Wang and Anna Sui.
To be added to the OmniaLuo, Inc. investor email list, please email davidwang@omnialuo.com.cn , with OLOU in the subject line.
OmniaLuo Investor Resources
Women’s Wear Daily Article: http://tinyurl.com/June202008pdf
Fact Sheet: http://tinyurl.com/Fact-Sheet-Omnialuo
Presentation: http://tinyurl.com/presentation-Omnialuo
Video: http://ir.omnialuo.com/video/omnialuo.cfm
Safe Harbor For Forward-Looking Statements
This news release contains forward-looking statements, including statements that include the words ‘believes,’ ‘expects,’ ‘anticipates,’ or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. Factors that may affect these forward-looking statements include, among others, our dependency on our chief executive officer, principal stockholder and chief designer, our sensitivity to economic conditions and consumer spending in China, competition in our industry, our ability to effectively manage our growth, our ability to raise capital in the future, changes in China’s economic or political situation, and other factors set forth in our annual reports on Form 10-KSB, Form 10-K and quarterly reports on Form 10-QSB and Form 10-Q filed with the United States Securities and Exchange Commission or otherwise set forth from time to time in our other public filings. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date of this news release.
For more information, please contact:
OmniaLuo, Inc.
David Wang
Tel: +86-755-8609-5618
Email: davidwang@omnialuo.com.cn
