months than the non-enriched milk group. Martek's life'sDHA(TM) was
used in this study.
As previously discussed by the Company, revenue for the third quarter of fiscal 2008 is expected to be lower than that for the second quarter of fiscal 2008 due to the production timing and related product ordering patterns of several large customers. Accordingly, Martek expects total revenues for the third quarter of fiscal 2008 to be between $85 million and $88 million. Third quarter infant formula revenue is projected to be between $71 million and $73 million; third quarter non-infant formula nutritional revenue is projected to be between $9 million and $10 million and third quarter contract manufacturing revenue is projected to be between $3.5 million and $4 million. Net income for the third quarter is projected to be between $7.6 million and $8.3 million, and diluted earnings per share are projected to be between $0.23 and $0.25.
Third quarter gross margin is expected to be approximately 41% with some improvement expected in the fourth quarter.
For the full fiscal year 2008, the Company expects revenues to be between $344 million and $350 million, a projected increase over fiscal 2007 of between 12% and 14%, with growth coming from all major product markets, including infant formula revenue where growth from the prior year is expected to be between 9% and 11%, slightly higher than previously estimated. Net income for the full fiscal year 2008 is projected to be between $33.6 million and $35.0 million, and diluted earnings per share are projected to be between $1.01 and $1.05.
Investor Conference Call Webcast
Martek will host a conference call and Webcast for investors to review
its second quarter results and fiscal 2008 outlook at 4:45 p.m. Eastern
Time on Wednesday, June 4, 2008. Access to the live audio Webcast is
available through Martek's website athttp://investors.martek.com. The
|SOURCE Martek Biosciences Corporation|
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