IRVINE, Calif., April 3 /PRNewswire-FirstCall/ -- ChromaDex Corporation, (OTC Bulletin Board: CDXC) a leader in phytochemical reference standards and contract research, today announced financial results for the 2008 Fiscal Year. On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced a net loss attributable to common stockholders of $0.07 per share for the twelve months ended January 3, 2009.
As of January 3, 2009, cash, cash equivalents, and marketable securities totaled $1 million.
"The FDA started implementing Good Manufacturing Practices for dietary supplements in June 2008," said Frank Jaksch, CEO and co-founder of ChromaDex. "There is a rapidly growing awareness both at the consumer and government regulatory level of the need for reference standards, analytical methods and other quality assurance methods to insure that products on the shelf not only contain what is claimed on the label, but are also safe and effective. We are confident that the increased awareness and demand for products that are healthy, natural, organic or green, will continue to provide an opportunity for ChromaDex. Additionally, we will continue to invest in products, services and intellectual property that will enable us to remain the reference standards market leader for the dietary supplement, food, beverage, personal care, and sport nutrition markets."
Additional Financial Results & Notes
On a reported basis, ChromaDex recorded revenue during 2008 of $4,506,301 as compared to $4,754,073 for the same period in 2007. The net loss attributable to common stockholders for the twelve months ended January 3, 2009, was $2,104,476 as compared to a net loss of $189,875 for the same period in 2007. The company notes that as a result of its closing of the reverse merger acquisition of Cody Resources, Inc. on June 20, 2008, investors are cautioned t
|SOURCE ChromaDex Corporation|
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