International Commercial Television Will Become ICTV Brands, Inc. Aug. 20

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International Commercial Television, Inc., one of Chester County’s handful of publicly traded companies, says the company is focused on continued growth and will change the name of the corporation to ICTV Brands, Inc. on Aug. 20.

ICTV is a direct response marketing and branding company focused on the health, wellness and beauty sector. Its products include DermaWand, a skin care device that reduces the appearance of fine lines and wrinkles.  The company also reported financial results for the second quarter of 2014.

During the second quarter the firm saw positive cash flow of $477,000 and increased its cash balance to $1.9 million.  The company closed on a one-year $500,000 credit facility with JP Morgan Chase Bank, and was listed on the Canadian Stock Exchange in April.

ICTV is continuing to expand international and retail distribution of  DermaWand and the next-generation device will be ready for marketing by the end of the year. Products are now being distributed in France, Hungary, Croatia and Bosnia-Herzegovina, and the company has named Doug Crouthers director of international sales.

“We are pleased with our second quarter results and the company’s continued growth,” said Kelvin Claney, chairman and CEO. “Our new corporate identity of ‘ICTV Brands’ is at a major inflection point, having progressed from a one product DermaWand company to a family of branded products in the health, wellness and beauty sector. I am confident that we have the right team and infrastructure in place to continue to build a diversified product portfolio which will position the company for even greater success in the coming years.”

ICTV continues to invest in production and research and development.  In January ICTV also launched a clinical trial for Derma Brilliance, a new cosmetic skincare resurfacing device system, expected to be on the market in September. Coral Actives, an acne care product line, is also in clinical trials, and the company this year launched a clinical trial for skin care product Elastin-rp.

The full financial report is online here.

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