Celsius Holdings Inc., the Boca Raton, Fla.-based maker of Celsius negative-calorie beverages, reported a revenue increase of 47 percent to $3.42 million in the third quarter of 2014, which ended Sept. 30. This increase was associated with a 60 percent increase in international sales to approximately $1.6 million due to increases from existing accounts and initial sales in Brazil. In addition, domestic sales increased 38 percent to approximately $1.9 million because of a 66 percent increase in health and fitness retail accounts and a 53 percent increase in domestic retail accounts. However, this was partially offset by a 6 percent decrease in Internet sales and the elimination of a liquidator sale that took place during the same period in 2013.

Gross profits for the quarter totaled approximately $1.3 million, and operating expenses totaled approximately $2 million, reflecting a 33 percent increase compared with the prior-year period. A significant portion of this increase is associated with a $365,000 increase in stock-based compensation expenses, additional increases in marketing programs, and investments in human resources.