Medifast Inc. reports sharply higher revenue, profit

May 05, 2010|By Gus G. Sentementes, The Baltimore Sun

Medifast Inc., an Owings Mills-based company specializing in weight loss programs, reported sharply higher revenue and profit in the first quarter.

The company had profit of $4.9 million, or 33 cents per share, compard to $2.5 million, or 17 cents per share, in the year-ago quarter. Net revenue rose nearly 75 percent, from $35 million in the first quarter last year to $61 million this quarter.

The company said it has 45 corporate and franchised weight-control centers, and plans to open another 13 to 15 new centers this year.

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