Medifast investors gain as diet company finds those looking to lose

8/10/2005

Medifast Inc. reported a 15 percent increase in earnings on surging revenues at Tuesday's closing bell -- after the stock ended down 10 percent.

The Owings Mills-based diet product firm reported earnings attributable to common shareholders of $753,000, or 6 cents per share. That figure met the average estimate of the two analysts surveyed by Thomson First Call. A year ago, Medifast reported earnings on the same basis of $656,000, which also worked out to 6 cents per share. Weighted average shares outstanding rose more than 800,000 from a year ago. Medifast converted preferred stock into common stock in the first quarter.

Medifast reported revenues of $10.5 million, as it had previously announced. That number was a 43 percent increase from a year ago.
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