Second Quarter Highlights: - Record revenues of $90.7 million, up 18% from the prior year's second
quarter - Earnings per share of $0.28, an increase of approximately 87% over last
year's second quarter - Operating cash flow of $23.6 million (Year-to-date operating cash flow of
$38.8 million) - Launch of eight new food and beverage and four new nutritional supplement
products containing life'sDHA(TM)
COLUMBIA, Md., June 4 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation (Nasdaq: MATK) today announced its financial results for the second quarter of fiscal 2008. Revenues for the second quarter were $90.7 million, up 18% from $76.7 million in the second quarter of fiscal 2007. Net income was $9.2 million, or $0.28 per diluted share, for the second quarter of fiscal 2008 compared with $4.9 million, or $0.15 per diluted share, in last year's second quarter.
Commenting on the quarter, Chief Executive Officer Steve Dubin said, "Martek's strong second quarter results reflect the continued execution of the Company's business plan. Martek's core infant formula business grew, especially overseas, and solid revenue increases were seen in non-infant formula markets. Interest from food, beverage and supplements companies in our nutritional oils continues to grow which should lead to further expansion of our non-infant formula business. In addition, advancements continue in the development of both new applications for life'sDHA(TM) as well as new products to support Martek's long-term growth."
Second Quarter and Year-to-Date Revenue Summary
Product sales in the second quarter
|SOURCE Martek Biosciences Corporation|
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