Neptune Reports Net Profit for the Second Quarter
2010年10月15日 - 8:00PM
Neptune Technologies & Bioressources Inc. ("Neptune")
(Nasdaq:NEPT) (TSX-V:NTB) today reports its consolidated
financial results for the three and six-month periods ended August
31, 2010.
Three-month Period Ended May 31, 2010 Financial
Results
Consolidated Results
- Revenue increased by 200% to $4,114,000 for the three-month
period ended August 31, 2010, up from $1,371,000 achieved during
the corresponding period ended August 31, 2009.
- Consolidated EBITDA for the three-month period ended August 31,
2010 amounted to $732,000, compared to negative $(1,634,000)
obtained during the corresponding period ended August 31,
2009.
- Net earnings increased by $2,386,000 and net income reached
$274,000, or $0.01 per share for the three-month period ended
August 31, 2010, compared to a net loss of $(2,112,000), or $(0.06)
per share, for the corresponding period ended August 31, 2009.
Nutraceutical Business Results
- Nutraceutical revenue increased by 204% to $4,109,000, for the
three-month period ended August 31, 2010, up from $1,352,000
achieved during the corresponding period ended August 31,
2009.
- EBITDA from nutraceutical business for the three-month period
ended August 31, 2010 amounted to $1,207,000, compared to a
negative $(997,000) obtained during the corresponding period ended
August 31, 2009.
- Earnings from nutraceutical business increased by $2,285,000
net income reached $794,000 for the three-month period ended August
31, 2010, compared to a net loss of $(1,491,000), for the
corresponding period ended August 31, 2009.
Six-month Period Ended August 31, 2010 Financial
Results
Consolidated Results
- Revenue increased by 95% to $8,276,000 for the six-month period
ended August 31, 2010, up from $4,248,000 achieved during the
corresponding period ended August 31, 2009.
- Consolidated EBITDA for the six-month period ended August 31,
2010 amounted to $1,408,000, compared to a negative $(1,917,000)
obtained during the corresponding period ended August 31,
2009.
- Net earnings increased by $4,269,000 and net income reached
$750,000, or $0.02 per share for the six-month period ended August
31, 2010, compared to a net loss of $(3,519,000), or $(0.09) per
share, for the corresponding period ended August 31, 2009.
Nutraceutical Business Results
- Nutraceutical revenue increased by 96% to $8,266,000, for the
six-month period ended August 31, 2010, up from $4,211,000 achieved
during the corresponding period ended August 31, 2009.
- EBITDA from nutraceutical business for the six-month period
ended August 31, 2010 was $2,303,000, compared to a negative
$(962,000) obtained during the corresponding period ended August
31, 2010.
- Earnings from nutraceutical business improved by
$4,246,000 and net income reached $1,692,000 for the six-month
period ended August 31, 2010, compared to a net loss of
$(2,554,000), for the corresponding period ended August 31,
2009.
"We are extremely pleased with the profitability level reached
during the first two quarters of the year and the progress we made
in productivity since the plant capacity increase. However, we
need to be careful when comparing this quarter results to last year
corresponding figures while the production plant was ramping up
from a plant shut down for the increase of its capacity," stated
Xavier Harland, Director, Finance.
"Revenue growth and increased cash flow generated through our
profitability represent another of Neptune's latest achievement
which has contributed to amplified Neptune's recognition in the
investment community," stated Andre Godin, Vice-President, Finance
& Administration.
Update on Private Placement and Stock
Options
Pursuant to its press release dated October 13, 2010, the
Company confirms having met all final requirements of the TSX
Venture Exchange (the "Exchange") in relation with the closing of a
$2,646,500 non-brokered private placement realized through the
offering of Neptune common shares at a price of $1.85 per
share.
The Company wants to precise that 27,027 options out of the
54,527 options previously announced, in partial payment to some
intermediaries, will be issued at an exercise price of $2.15 per
option, whereas the remaining 27,500 will be issued at an exercise
price of $2.50 per option, each option expiring on the first
anniversary date of their issuance.
Unless permitted under securities legislation and Exchange
policies, each holder of securities issued thereof cannot trade its
security before 4 months and a day after the distribution date of
such security.
The Company also wants to inform its shareholders that the
maximal number of options available for grant under the Company
Stock Option Plan was reduced to 6,025,912 following its last
shareholders' meeting, representing 15% of the 40,172,744 common
shares issued and outstanding on the date the amended and restated
Stock Option Plan was approved by its shareholders during at the
Company's last shareholders meeting held on June 22, 2010.
About Neptune Technologies & Bioressources
Inc.
Neptune is an industry-recognized leader in the innovation,
production and formulation of science-based and clinically proven
novel phospholipid products for the nutraceutical and
pharmaceutical markets. The Company focuses on growing consumer
health markets including cardiovascular, inflammatory and
neurological diseases driven by consumers taking a more proactive
approach to managing health and preventing disease. The Company
sponsors clinical trials aimed to demonstrate its product health
benefits and to obtain regulatory approval for label health claims.
Neptune is continuously expanding its intellectual property
portfolio as well as clinical studies and regulatory approvals.
Neptune's products are marketed and distributed in over 20
countries worldwide.
About Acasti Pharma Inc.
Acasti Pharma is developing a product portfolio of proprietary
novel long-chain omega-3 phospholipids. Phospholipids are the
major component of cell membranes and are essential for all vital
cell processes. They are one of the principal constituents of High
Density Lipoprotein (good cholesterol) and, as such, play an
important role in modulating cholesterol efflux. Acasti Pharma's
proprietary novel phospholipids carry and functionalize the
polyunsaturated omega-3 fatty acids EPA and DHA, which have been
shown to have substantial health benefits and which are stabilized
by potent antioxidants. Acasti Pharma is focusing initially on
treatments for chronic cardiovascular conditions within the
over-the-counter, medical food and prescription drug markets.
About NeuroBioPharm Inc.
NeuroBioPharm is pursuing pharmaceutical neurological
applications, and a clinical study for a medical food product with
a multinational partner is already initiated. The development of a
prescription drug candidate is currently in progress. Advanced
clinical development and commercialization is planned to be carried
out with multinational partners.
"Neither Nasdaq nor the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995 and Canadian securities laws. Such
forward-looking statements involve known and unknown risks,
uncertainties, and other unknown factors that could cause the
actual results of the Company to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are
urged to consider statements labeled with the terms "believes,"
"belief," "expects," "intends," "anticipates," "will," or
"plans" to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
Company's reports filed with the Securities and Exchange Commission
and the Canadian securities commissions.
CONTACT: Neptune Technologies & Bioressources Inc.
Andre Godin, V.P. Administration and Finance
+1 450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
CEOcast
Dan Schustack
+1 212-732-4300
dschustack@ceocast.com
www.ceocast.com
Howard Group
Bob Beaty
(888) 221-0915
bob@howardgroupinc.com
www.howardgroupinc.com
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