Advantage Life Removes Its Co-Founder as President

Advantage Life Products Inc., which uses television infomercials extensively to push its cosmetics and hair care products, said Friday that it has removed its president and that it will post a loss for its fourth quarter, which ends Sunday.

The company said it has appointed board member George Carras to replace company co-founder Don Danks as president and chief executive. Danks will remain a member of the company’s board of directors and will serve as a consultant for product development and marketing.

Executives at Advantage Life would not explain the change in leadership, nor would they say whether they expect to post a profit for the year. The company’s financial report won’t be issued for several weeks.

In a prepared statement, however, the company hinted that its fiscal 1995 was a losing year. The statement said Advantage Life was optimistic that it will be profitable in its next fiscal year as it increases its national network of salons and develops or acquires new products.

For its fiscal year ended April 30, 1994, the company reported a loss of $1.3 million, or 13 cents a share, on revenue of $1.8 million. After a reverse stock split last fall reduced the number of shares by two-thirds, the loss now is equivalent to 39 cents a share.

For its latest reported quarter, which ended Jan. 31, the company earned $71,000, or 2 cents a share, on revenue of $10.2 million.