- Product sales of $84.0 million, a 7% increase over last year's first
- Total revenue of $87.4 million, up 5% year-over-year
- Record pre-tax income of $15.4 million
- Earnings per share of $0.29, an increase of 12% over last year's
- New products launched containing life'sDHA(TM) in a variety of
- Improvements in gross margin continue to demonstrate the strong
leverage in our business
COLUMBIA, Md., March 4 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation (Nasdaq: MATK) today announced its financial results for the first quarter of fiscal 2009. Revenues for the first quarter were $87.4 million, up 5% from $82.9 million in the first quarter of fiscal 2008. Net income was $9.6 million, or $0.29 per diluted share, for the first quarter of fiscal 2009 compared with $8.7 million, or $0.26 per diluted share, in last year's first quarter.
Commenting on the quarter, Chief Executive Officer Steve Dubin said, "Despite the troubling economy, Martek's first quarter results showed both revenue and bottom line growth reflecting the strength of our core infant formula business, growing consumer awareness of the health benefits of DHA beyond infant formula markets and the continued execution of our business plan. Net profits increased faster than revenue due to additional gross margin growth resulting from manufacturing improvements and increased plant utilization. While the current economy continues to present challenges for Martek as well as other businesses, I believe Martek continues to be well-positioned to deliver both revenue and profit growth in 2009."
Product sales in the first quarter of fiscal 2009 increased 7% year-over-year to $84.0 million,
|SOURCE Martek Biosciences Corporation|
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