News

OmniaLuo Revenue up 147% to $6.3 Million and Net Income up 136% to $1.2 Million for the First Half of 2008

SHENZHEN, China-(Business Wire)-August 14, 2008 - OmniaLuo, Inc. ("OmniaLuo" or the "Company") (OTCBB: 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 quarter and six months ended June 30, 2008.

OmniaLuo reported record revenue of approximately $3.7 million for the quarter ended June 30, 2008, compared to approximately $1.9 million for the quarter ended June 30, 2007 - a 98% increase. For the six months ended June 30, 2008, OmniaLuo reported record revenue of approximately $6.3 million, compared to approximately $2.5 million for the six months ended June 30, 2007 - a 147% increase. The substantial increase in revenue was primarily attributable to the increase in the number of independent distributors and stores, as well as the increase in sales by existing independent distributors and stores.

Revenue from sales to independent distributors for the quarter ended June 30, 2008 was approximately $2.5 million (68% of total sales revenue for the period), compared to approximately $1.5 million for the quarter ended June 30, 2007 - a 65% increase. Revenue from sales to independent distributors for the six months ended June 30, 2008 was approximately $4.2 million (67% of total sales revenue for the period), compared to approximately $2.0 million for the six months ended June 30, 2007 - a 106% increase. The increase in revenue from independent distributors was attributable to the increase in the number of independent distributor stores from 99 stores as of June 30, 2007 to 145 stores as of June 30, 2008, as well as an increase in sales by existing independent distributor stores.

Revenue from sales from Company-owned and co-owned stores for the quarter ended June 30, 2008 was approximately $1.2 million (32% of total sales revenue for the period), compared to approximately $0.35 million for the quarter ended June 30, 2007 - a 242% increase. Revenue from sales from Company-owned and co-owned stores for the six months ended June 30, 2008 was approximately $2.1 million (33% of total sales revenue for the period), compared to approximately $0.5 million for the six months ended June 30, 2007 - a 319% increase. The increase in revenue from Company-owned and co-owned stores reflected the increase in the number of Company-owned and co-owned stores from 38 such stores as of June 30, 2007 to 65 such stores as of June 30, 2008.

OmniaLuo reported overall gross profit for the quarter ended June 30, 2008 of approximately $2.2 million, compared to approximately $1.1 million for the quarter ended June 30, 2007 - a 105% increase. Overall gross profit for the six months ended June 30, 2008 was approximately $3.7 million, compared to $1.4 million for the six months ended June 30, 2007 - a 153% increase.

The Company also reported overall gross profit margin for the quarter ended June 30, 2008 of approximately 59%, compared to approximately 57% for the quarter ended June 30, 2007. Gross profit margin for the six months ended June 30, 2008 was 58%, compared to 57% for the six months ended June 30, 2007.

OmniaLuo reported net income of approximately $0.75 million for the quarter ended June 30, 2008, compared to net income of approximately $0.4 million for the six months ended June 30, 2007 - a 73% increase. The Company reported net income of approximately $1.2 million for the six months ended June 30, 2008, compared to approximately $0.5 million for the six months ended June 30, 2007 - a 136% increase.

Based on the weighted average number of shares outstanding of 22,840,000 as of June 30, 2008, OmniaLuo had net income of approximately $0.03 per share for the quarter ended June 30, 2008, as compared to net income of approximately $0.03 per share for the quarter ended June 30, 2007. OmniaLuo reported net income of approximately $0.05 per share for the six months ended June 30, 2008, as compared to $0.03 for the six months ended June 30, 2007 - a 66% increase.

As of June 30, 2008, a total of 28,544,752 shares of common stock were issued and outstanding on a fully diluted basis included: 1) 22,840,000 issued and outstanding shares, 2) 4,920,000 shares issuable upon exercise of private placement investor warrants, 3) 492,000 shares issuable upon exercise of placement agent warrants and 4) 292,752 shares issuable upon exercise of venture capital investor warrants.

Earnings Conference Call

OmniaLuo will host a conference call on Tuesday, August 19, 2008 to review second quarter and first half 2008 earnings results. The conference call is scheduled for 9:00 a.m. Eastern Time. To participate in the call, please dial: -0- *T - U.S. and Canada: (800) 263-9160 - International: (212) 676-5407 - Conference ID: 21390865 *T

A replay of the call will be available two hours after completion of the call. You will be able to access it at any time through the OmniaLuo Website at ir.omnialuo.com, or by phone until September 18, 2008. To access the replay by phone, please dial: -0- *T - U.S. and Canada: (800) 633-8625 - International: (402) 977-9141 - Conference ID: 21390865 *T

About OmniaLuo, Inc.

OmniaLuo, Inc. (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. With its rapid and strategic expansion plan, OMNIALUO plans to increase its retail presence to more than 250 retail stores and distributor relationships by year end 2008. Under the leadership of Cindy Luo, the Company's founder and award winning chief designer, OMNIALUO is positioned to become the Chinese brand equivalent of Ralph Lauren, Vera Wang and Anna Sui.

OmniaLuo Investor Resources

Women's Wear Daily Article: http://files.shareholder.com/downloads/OMNIL/339558900x0x208009/ dbf4305a-c147-4ea7-9ec6-bdbbdbab15aa/OLOU%20-%20Women's%20Wear%20 Daily_%20June%202008.pdf

Fact Sheet: http://ir.omnialuo.com/common/download/download.cfm?companyid= OMNIL&fileid=131139&filekey=87e893bc-ed11-41a4-8b67-27be27cea326& filename=omnialuo-factsheet.pdf

Presentation: http://ir.omnialuo.com/common/download/download.cfm?companyid= OMNIL&fileid=131141&filekey=f4882e6d-92d8-4edd-8317-629373480048& filename=omnialuo-presentation.pdf

Video: http://ir.omnialuo.com/video/omnialuo.cfm

(Due to their length, these URLs may need to be copied/pasted into your Internet browser's address field. Remove extra spaces if they exist.)

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 Report on Form 10-KSB 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. -0- *T OmniaLuo, Inc. Condensed Consolidated Statements of Income and Comprehensive Income For the three and six months ended June 30, 2008 and 2007 (Stated in US Dollars) Three months ended June 30, Six months ended June 30, (Unaudited) (Unaudited) —————————————- ————————————— 2008 2007 2008 2007 Revenues $ 3,736,917 $ 1,887,415 $ 6,281,103 $ 2,542,951 Cost of revenues (1,546,811) (819,041) (2,625,078) (1,095,844) —————- ———————- —————- ——————- Gross profit 2,190,106 1,068,374 3,656,025 1,447,107 —————- ———————- —————- ——————- Expenses General and admin- istrative expenses 901,126 379,164 1,425,286 630,964 Depreciation 65,851 44,189 107,743 44,992 Selling and marketing expenses 485,240 210,103 905,086 262,054 —————- ———————- —————- ——————- 1,452,217 633,456 2,438,115 938,010 —————- ———————- —————- ——————- Income from operations 737,889 434,918 1,217,910 509,097 Interest income 4,700 446 10,531 980 Other income 12,611 76 14,856 15,589 Finance costs (7,092) (2,889) (15,744) (5,470) —————- ———————- —————- ——————- Income before preferred dividend 748,108 432,551 1,227,553 520,196 Preferred dividend - (10,950) - (20,075) —————- ———————- —————- ——————- Net income applicable to ordinary shareholders 748,108 $ 421,601 1,227,553 $ 500,121 =========== =============== =========== ============= Other comprehensive income Foreign currency translation adjustments 196,916 24,776 504,157 34,354 —————- ———————- —————- ——————- Comprehensive income 945,024 $ 446,377 1,731,710 $ 534,475 =========== =============== =========== ============= Earnings per ordinary share Basic $ 0.03 $ 0.03 $ 0.05 $ 0.03 =========== =============== =========== ============= Diluted $ 0.03 $ 0.03 $ 0.05 $ 0.03 =========== =============== =========== ============= Weighted average number of shares outstanding Basic 22,840,000 16,800,000 22,840,000 16,800,000 =========== =============== =========== ============= Diluted 22,867,878 16,800,000 22,897,145 16,800,000 =========== =============== =========== ============= *T -0- *T OmniaLuo, Inc. Condensed Consolidated Balance Sheet As of June 30, 2008 and December 31, 2007 (Stated in US Dollars) As of As of June 30, December 31, 2008 2007 (Unaudited) (Audited) ASSETS Current assets Cash and cash equivalents $ 2,089,426 $3,083,715 Trade receivables (net of allowance for doubtful accounts of $8,742 for 2008 and $8,313 for 2007) 2,093,817 1,573,644 Inventories 4,174,004 2,602,653 Deposits 2,982,583 1,995,229 —————- —————— Total current assets 11,339,830 9,255,241 Property and equipment, net 828,379 724,681 —————- —————— TOTAL ASSETS $12,168,209 $9,979,922 =========== ============ LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current liabilities Trade payables $ 444,084 $ 281,027 Other payables, deposits received and accrued expenses 1,668,652 1,368,890 Loans from stockholders 8,052 14,294 —————- —————— Total current liabilities 2,120,788 1,664,211 —————- —————— TOTAL LIABILITIES 2,120,788 1,664,211 —————- —————— COMMITMENTS STOCKHOLDERS' EQUITY Common stock : par value $0.01 per share Authorized 40,000,000 shares; issued and outstanding 22,840,000 shares 228,400 228,400 Preferred stock : par value $0.01 per share Authorized 10,000,000 shares; none issued outstanding for 2008 and 2007 - - Additional paid-in capital 8,479,390 8,479,390 Statutory reserve 442,632 261,948 Accumulated other comprehensive income 800,879 296,722 Retained earnings (accumulated deficit) 96,120 (950,749) —————- —————— TOTAL STOCKHOLDERS' EQUITY 10,047,421 8,315,711 —————- —————— TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $12,168,209 $9,979,922 =========== ============ *T

Send this news item to a friend.

Print This Page