Navigation Links
Martek Announces Fourth Quarter and FY 2007 Financial Results
Date:12/12/2007

p>For the fiscal year ended October 31, 2007, the Company generated $45.9 million of cash from operating activities with the fourth quarter contributing $24.3 million. The $45.9 million represents a nearly 30% increase in operating cash flow as compared to fiscal 2006.

Martek's inventory balance at quarter-end declined as compared to the amount on-hand at the end of fiscal 2006 despite significant revenue growth between years. The Company's significant cash generation allowed for repayments on its credit facility totaling $36 million during fiscal 2007. At the end of the quarter, Martek had $21.6 million in cash and had the entire balance of its long-term revolving credit facility ($135 million) available for future borrowing.

Significant Recent Events

-- Multi-Year Worldwide Sole Source Supply Agreement with Abbott -- In

October 2007, Martek announced that it had entered into a 10-year

supply agreement with Abbott Nutrition, a leading worldwide producer of

infant formula products including the Similac(R) Advance(R) brand,

under which Martek will serve as Abbott's exclusive worldwide DHA and

ARA supplier for all of Abbott's infant formula products. Under terms

of the agreement, Abbott has the right to terminate the arrangement as

of January 2012. Martek has been supplying Abbott with DHA and ARA for

use in infant formula products under a 25-year license agreement signed

in 2000 which remains in effect.

-- New Infant Formula Licensee -- In October 2007, Martek announced that

it had entered into a multi-year license and supply agreement with

Alter Farmacia, S.A. for the inclusion of Martek's arachidonic acid oil

in Alter's infant formula products that contain ARA and are sold in

Spain and Portugal.

-- Worldwide Distributor Agreement for Animal Feed Products -- In

November 2007, Martek announced that it
'/>"/>

SOURCE Martek Biosciences Corporation
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Related biology technology :

1. Martek to Announce Third Quarter 2007 Results on September 5, 2007
2. Martek to Present at Upcoming UBS Conference
3. Martek Signs Multi-Year Worldwide Sole Source Supply Agreement with Abbott
4. Martek Announces Settlement of OmegaTech Milestone Litigation
5. Martek to Obtain Permanent Injunction Against Lonza in U.S. Patent Infringement Suit; Jury Verdict on Infringement of Two of Three Patents Upheld by Judge
6. European Patent Office Upholds Martek European DHA Food Patent; Scope of Original Claims Narrowed
7. Martek to Present at Upcoming ThinkEquity Partners Conference
8. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
9. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
10. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
11. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/2/2014)... (PRWEB) September 02, 2014 The Little ... southwestern Chicagoland, constructed a new 290,000 square-foot West Pavilion ... Tufftec® Lockers from Scranton Products for the nurse’s ... 1930, Little Company of Mary Hospital’s $180 ... Summer 2014 with the connection of the West Pavilion ...
(Date:9/2/2014)... a billionth of a meter in size, are around ... benefit human health, as in some innovative early cancer ... viruses, air pollution, traffic emissions, cosmetics, sunscreen and electronics. ... St. Louis, led by Lan Yang, PhD, the Das ... Engineering, and their collaborators at Tsinghua University in China ...
(Date:9/2/2014)... YORK , September 2, 2014 ... Study on Membrane Technology in Pharmaceutical, Biopharma and Life ... Highest Growth by 2019" the global membrane technology market for pharmaceutical, ... million in 2014 and is expected to grow at ... reach an estimated value of USD 10,886.0 million in ...
(Date:9/2/2014)... 2014 Opertech Bio, Inc., a ... cost effective approach to sensory evaluation, today announced ... the U.S. Patent and Trademark Office, encompassing high-throughput ... , “Opertech’s taste evaluation technology called Microtiter Operant ... throughput system for rapid characterization of taste sensory ...
Breaking Biology Technology:Tufftec® Lockers from Scranton Products Selected by Little Company of Mary Hospital Near Chicago to Create an Uplifting Environment 2Tufftec® Lockers from Scranton Products Selected by Little Company of Mary Hospital Near Chicago to Create an Uplifting Environment 3Engineers develop new sensor to detect tiny individual nanoparticles 2Engineers develop new sensor to detect tiny individual nanoparticles 3Global Membrane Technology Market Will Reach $10,886.0 Million in 2019: Persistence Market Research 2Global Membrane Technology Market Will Reach $10,886.0 Million in 2019: Persistence Market Research 3Global Membrane Technology Market Will Reach $10,886.0 Million in 2019: Persistence Market Research 4Global Membrane Technology Market Will Reach $10,886.0 Million in 2019: Persistence Market Research 5Opertech Bio Receives U.S. Patent for High-Throughput Taste Evaluation Technology 2
... , QUEBEC CITY , Jan. 22 ... TSX: AEZ) (the "Company"), a late-stage drug development company specialized ... 21, 2010 , the Company received a letter from the ... the minimum closing bid price of its common shares had ...
... , ... Bioamber,( http://www.bio-amber.com/ ) , a joint venture between US-based DNP,( ... )(Agro-industrie Recherches et Développements),announces the successful start-up and commissioning of ... , the plant has been,producing renewable succinic acid from wheat ...
... ... contouring, will be presented at the upcoming ICAD & 3rd ECAA Asia conference. Dr. ... Y. Yu will present his latest clinical data showing successful reduction of acne using TriPollar. ... (PRWEB) January 20, ...
Cached Biology Technology:Æterna Zentaris Receives NASDAQ Notification Related to Minimum Bid Price 2Æterna Zentaris Receives NASDAQ Notification Related to Minimum Bid Price 3Bioamber Commissions World's First Renewable Succinic Acid Plant 2Bioamber Commissions World's First Renewable Succinic Acid Plant 3TriPollar Technology Clinically Proven to Significantly Reduce Stretch Marks and Acne 2TriPollar Technology Clinically Proven to Significantly Reduce Stretch Marks and Acne 3
(Date:9/2/2014)... new Journal of Evolutionary Biology study ... can influence language diversification. , Investigators argue that ... biodiversity in the Galpagos Islands is also responsible ... the natural oceanic barriers that impede interaction between ... from one another due to a reduction of ...
(Date:9/2/2014)... that professional baseball pitchers with poor core stability are more ... season because of injury than are pitchers who have good ... In the study, 347 pitchers were assessed for lumbopelvic control ... as they raised a leg to step up were up ... days cumulative, not consecutive during the season than ...
(Date:9/2/2014)... is considered the most ideal source of nutrition ... critical role in the evolution and civilizations of ... contains a large number of bacterial species, including ... as no surprise to scientists and physicians. , ... to be the result of co-evolutionary and co-adaptive ...
Breaking Biology News(10 mins):In pro baseball pitchers, weak core linked to more missed days 2In pro baseball pitchers, weak core linked to more missed days 3Are human breast milk microbiome 'neutral'? 2Are human breast milk microbiome 'neutral'? 3
... of 1000, the leading scientific evaluation service, has highlighted research ... Birds use plumage colour to recognize and select potential mates. ... a striking colour change, as demonstrated by two closely related ... in the American Naturalist -- selected and reviewed ...
... the possibility that flies and other insects that encounter nanomaterial ... could pick up and transport nanoparticles on their bodies, transferring ... The study on carbon nanoparticles barely 1/5,000th the width ... issue of ACS, Environmental Science & Technology , a ...
... an advance that could help ease the antibiotic drought, ... test that enlists pinhead-sized worms in efforts to discover ... ACS Chemical Biology , a monthly journal. ... that existing methods for identifying germ-fighting drugs involve adding ...
Cached Biology News: