Neptune Technologies & Bioressources Inc. Reports Net Profit for the Third Quarter
January 13 2011 - 6:00PM
Neptune Technologies & Bioressources Inc. ("Neptune")
(Nasdaq:NEPT) (TSX-V:NTB) reports its consolidated financial
results for the three and nine-month periods ended November 30,
2010.
Three-month Period Ended November 30, 2010 Financial
Results
Consolidated Results
- Revenue increased by 14% to $4,290,000 for the three-month
period ended November 30, 2010, up from $3,758,000 achieved during
the corresponding period ended November 30, 2009.
- Consolidated EBITDA for the three-month period ended November
30, 2010 amounted to $135,000, compared to $440,000 obtained during
the corresponding period ended November 30, 2009.
- Net income reached $1,801,000, or $0.04 per share for the
three-month period ended November 30, 2010, compared to a net
income of $2,023,000 or $0.05 per share, for the corresponding
period ended November 30, 2009.
Nutraceutical Business Results
- Nutraceutical revenue increased by 15% to $4,322,000, for the
three-month period ended November 30, 2010, up from $3,756,000
achieved during the corresponding period ended November 30,
2009.
- EBITDA from nutraceutical business for the three-month period
ended November 30, 2010 amounted to $765,000, compared to $874,000
obtained during the corresponding period ended November 30,
2009.
- Net income from nutraceutical business reached
$1,235,000 for the three-month period ended November 30, 2010,
compared to $2,462,000, for the corresponding period ended November
30, 2009.
Nine-month Period Ended November 30, 2010 Financial
Results
Consolidated Results
- Revenue increased by 57% to $12,566,000 for the nine-month
period ended November 30, 2010, up from $8,007,000 achieved during
the corresponding period ended November 30, 2009.
- Consolidated EBITDA for the nine-month period ended November
30, 2010 amounted to $1,543,000, compared to a negative
$(1,478,000) obtained during the corresponding period ended
November 30, 2009.
- Net earnings increased by $4,048,000 and net income reached
$2,552,000, or $0.06 per share for the nine-month period ended
November 30, 2010, compared to a net loss of $(1,496,000), or
$(0.04) per share, for the corresponding period ended November 30,
2009.
Nutraceutical Business Results
- Nutraceutical revenue increased by 58% to $12,588,000, for the
nine-month period ended November 30, 2010, up from $7,966,000
achieved during the corresponding period ended November 30,
2009.
- EBITDA from nutraceutical business for the nine-month period
ended November 30, 2010 was $3,069,000, compared to a negative
$(87,000) obtained during the corresponding period ended November
30, 2010.
- Earnings from nutraceutical business improved by $3,019,000 and
net income reached $2,927,000 for the nine-month period ended
November 30, 2010, compared to a net loss of $(92,000), for the
corresponding period ended November 30, 2009.
"We are pleased to report continued solid significant growth in
revenues within a more competitive market than previous years,"
stated Andre Godin, Vice-President, Administration and
Finance. "The increase of more than $3,000,000 in EBITDA for
nutraceutical business for the nine-month period ended November 30,
2010 over the corresponding period of 2009 is demonstrating the
management's commitment to efficiency and performance," he
added.
For further management discussion on the three and nine-month
period ended November 30, 2010 financial results please attend the
teleconference scheduled Friday January 14th, 2011 at 9:00 AM.
Teleconference details are as follows:
Friday, January 14, 2011, 9:00 AM (EST)
Participant Dial-In Number(s):
Operator Assisted Toll-Free Dial-In Number:
1-888-241-0394
International Dial-In #: +1-647-427-3413
Conference ID # 36980243
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 Contact:
Neptune Technologies & Bioressources Inc.
Andre Godin, V.P. Administration and Finance
+1 450.687.2262
a.godin@neptunebiotech.com
www.neptunebiotech.com
CEOcast Contact:
Dan Schustack
+1 212-732-4300
dschustack@ceocast.com
www.ceocast.com
Howard Group Contact:
Bob Beaty
(888) 221-0915
bob@howardgroupinc.com
www.howardgroupinc.com
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