RIVER FALLS, Wis., July 12, 2011 /PRNewswire/ -- Fiberstar, Inc., a global leader in creating innovative bio-ingredients from plant cell wall materials, today reported strong second quarter results on continued rising international demand for its all-natural Citri-Fi® and Imulsi-Fi™ functional ingredients.
"Fiberstar's second quarter performance benefited from a 51 percent increase in international sales, improvements in productivity, and a 10 percent price increase implemented to offset rising energy and manufacturing costs," said Fiberstar's President & CEO, Dale Lindquist.
Fiberstar, a private company, keeps its actual revenues and earnings confidential, but discloses comparative financial data.
Second quarter revenue was up 34 percent and profit was up 126 percent over last year. YTD revenue was up 36 percent and profit was up 52 percent.
The Company's compound annual growth rates for the three year period ending June 30, 2011, was 29 percent for revenue and 57 percent for profit.
International sales account for 79 percent of revenues. Revenues by region were: Latin America 29 percent, Europe 27 percent, Asia Pacific 23 percent, and North America 21 percent.
"The growing global demand for Fiberstar's products can be attributed to the significant value proposition we offer food manufacturers to improve the textural quality, nutrition, label declaration and cost of the products they manufacture," said Fiberstar's Director of Sales and Marketing, Nick Kovalenko.
For example, Citri-Fi reduces the cost and caloric content of a wide variety of food products through superior moisture management (more uniform moisture distribution and higher yields) and by partial replacement of higher priced ingredients such as dairy fat, vegetable oil, eggs and meat.
"Our customers regularly replace 25 percent to 50 percent of vegetable or animal fat, 15 percent to 25 percent of eggs and up to 20 perc
|SOURCE Fiberstar, Inc.|
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