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MusclePharm Corporation (OTCMKTS: MSLP) announced it will report Q1 financial results on May 24, 2021, after market close. A conference call will follow at 1:30 PM PT, where investors can discuss operating results. The call can be accessed via phone or through a live webcast on the company's investor relations page. MusclePharm offers a variety of nutritional supplements, including its popular Combat Protein line, available in over 100 countries.
MusclePharm Corporation (OTCMKTS: MSLP) announced a distribution partnership with The Odom Corporation, NW Beverages, and Craig Stein Beverage, covering Washington, Oregon, Idaho, and Alaska. This partnership will launch MusclePharm's beverage products, including Combat/Grapefruit Lime, Shred/Green Apple, and Wreckage/Fruit Punch. The FitMiss product is set for a Q4 launch. Executives expressed confidence in growth opportunities through this collaboration, leveraging MusclePharm's strong brand reputation.
MusclePharm Corporation (OTCMKTS: MSLP) has partnered with former Rockstar executive Joe Cannata to launch a new energy drink line called MP Performance Energy. This line will include three initial flavors: Combat/Grapefruit Lime, Shred/Green Apple, and Wreckage/Fruit Punch, set to debut in summer 2021. CEO Ryan Drexler expressed optimism about the collaboration, highlighting Cannata's expertise and the potential for growth in the beverage sector. The partnership aims to leverage MusclePharm's existing distribution network and expand into the functional energy market, including a focus on female consumers through the FitMiss brand.
MusclePharm Corporation (OTCMKTS: MSLP) has appointed Sabina Rizvi as its first President and Chief Financial Officer. Rizvi previously held multiple executive roles at Yum! Brands, including CFO for Canadian and Thai operations. Her leadership is expected to enhance MusclePharm's brand growth and attract top talent. Chairman Ryan Drexler expressed confidence in Rizvi's ability to elevate the company and maximize shareholder value, emphasizing a shared vision for success in the competitive sports nutrition market.
MusclePharm Corporation (OTCMKTS: MSLP) reported significant improvements in its financial performance for 2020, including a net income of $3.2 million, contrasting with a net loss of $(18.9) million in 2019. Gross margins increased over 1,900 basis points to 30.4%, while operating expenses declined by over 29%, saving $6.8 million. The company also achieved a diluted income per share of $0.08 in 2020, up from a loss of $(0.92) in 2019. MusclePharm plans to leverage its strong brand to expand into new categories, aiming for continued long-term profitable growth.