secwatch.observer — SEC 8-K summary
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Issuer:     FITLIFE BRANDS, INC. (FTLF)
CIK:        0001374328
Form:       8-K
Filed at:   2022-07-13T23:59:59+00:00
Accession:  0001851734-22-000378
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

FitLife Brands releases FY2021 results late; net income down 39%, revenue up 26%; revenue recognition under review
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- FY2021 net income $5.4M ($1.22 basic EPS) vs $8.9M ($2.09) in FY2020, a 39% decline.
- Revenue rose 26% to $27.9M; operating income $6.2M vs $4.3M.
- Company analyzing timing of prior revenue recognition; implications for delayed FY2021 10-K filing.
- Acquired Nutrology assets in April 2021 for $529K cash; GNC represents 71% of revenue.
- Shareholder letter from CEO Dayton Judd outlines acquisition strategy and operational update.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1374328/000185173422000378/0001851734-22-000378-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1374328/000185173422000378/ftlf20220713_8k.htm
  HTML page:      https://secwatch.observer/filing/0001851734-22-000378

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer