Medical Nutrition USA Announces Fourth Quarter Sales & Preliminary Earnings Results
February 17 2010 - 9:00AM
Marketwired
Medical Nutrition USA, Inc. (NASDAQ: MDNU), a developer and
distributor of uniquely engineered, nutrition-medicine products,
reported preliminary, unaudited fourth quarter and full year sales
and preliminary earnings for the fiscal year ended Jan. 31, 2010.
Total revenues for the fourth quarter increased 19 percent to
$4.4 million from $3.7 million in the same period a year ago.
Branded product sales for the quarter increased 21 percent to $4.1
million from $3.4 million in the same period a year ago.
Preliminary earnings per diluted share in the fourth quarter are
expected to be within a range of $0.01 to $0.02 compared to a net
loss of ($0.01) in the same period a year ago.
Total revenues for the year increased 17 percent to $16.0
million from $13.7 million in fiscal 2009. Branded product revenues
for the year increased 19 percent to $14.8 million from $12.4
million a year ago.
The Company expects earnings per diluted share for the fiscal
year to be within a range of $0.03 to $0.04 compared to a loss of
($0.04) per diluted share in the prior year.
At January 31, 2010, cash and short term investments increased
to $11.5 million from $9.7 million in the previous year; an
increase of $1.8 million.
"This is our third consecutive quarter of greater than 20%
increases in branded product sales and we expect that momentum to
carry forward into the next fiscal year," Medical Nutrition USA
Chairman and Chief Executive Officer Frank A. Newman said.
The Company had previously forecast revenue growth of 16 to 18
percent for the year.
The company will report its complete results for the fourth
quarter and the year ended Jan. 31, 2010, on April 1, 2010,
followed by an earnings conference call for investors at 11:00 am
(EST). The conference call dial-in number is: (866) 639-9991
(United States and Canada) or (678) 302-3571 (international).
A live webcast of the conference call can also be accessed
through the company's web site at:
http://ir.medicalnutritionusa.com/events.cfm.
About Medical Nutrition USA, Inc. Medical
Nutrition USA develops and distributes products for the
nutritionally at risk who are under medical supervision. Its
products are used primarily in long-term care facilities,
hospitals, dialysis clinics and bariatric clinics. The Company's
product lines include Pro-Stat®, Fiber-Stat®, UTI-Stat™ and
Diff-Stat™ as well as private label products. Additional
information is available at www.mdnu.com.
Forward-Looking Statements This news
release contains forward-looking statements that are subject to
certain risks and uncertainties. Although we believe that the
expectations reflected in any of our forward-looking statements are
reasonable, actual results could differ materially from those
projected or assumed. Risks and uncertainties that could cause or
contribute to such material difference include, but are not limited
to, general economic conditions, changes in customer demand,
changes in trends in the nursing home, renal care, health food and
bariatric surgery markets, changes in competitive pricing for
products, and the impact of our competitors' new product
introductions. Our future financial condition and results of
operations, as well as any forward-looking statements are subject
to change and inherent risk and uncertainties. Other important
factors that may cause actual results to differ materially from
those expressed in forward-looking statements are contained in the
Medical Nutrition USA, Inc. Annual Report on Form 10-K for the year
ended January 31, 2009 as filed with the Securities and Exchange
Commission on April 24, 2009 and Form 10-Q for the quarter ended
Oct. 31, 2009 filed on Dec. 4, 2009.
Contacts: Medical Nutrition USA, Inc. Frank J. Kimmerling
Vice President/CFO 800.221.0308 Email Contact Investor
Relations Adam Friedman 212.981.2529 x18 Email Contact
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