LAVAL, QC, Sept. 28 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. (NASDAQ.NEPT - TSX.V.NTB), is pleased to report its financial results for the fiscal year ended May 31, 2007. During the last fiscal year, Neptune improved its productivity and operational profitability while continuing its business development strategy to penetrate the American, European and Asian markets, resulting in sustainable sales growth.
Financial Results and Highlights:
- Sales increased by 18% to $8,126,000 from $6,912,000 in the preceding
- EBITDA increased by 43% to $1,504,000 from $1,049,000 in the preceding
fiscal year, representing a third consecutive year with a positive
- EBITDA margin reached 18.5%, compared to 15.2% in the preceding fiscal
- Excluding stock-based compensation expenses, Neptune would have
realized earnings of $152,000 instead of a loss of $2,677,000 in the
fiscal year ended May 31, 2007. Excluding stock-based compensation
expenses and an extraordinary gain from the settlement of debentures,
Neptune would have realized a loss of $1,574,000 instead of a loss of
$886,000 in the fiscal year ended May 31, 2006.
"We believe that the evaluation model and accounting method for stock-based compensation expenses are not appropriate for small capitalization fast growing companies. They do not bring the accounting value of stock-based compensation closer to the market value, as they should and as they were implemented for", stated Xavier Harland, Director of Finance.
"Neptune has managed to increase its EBITDA by $455,000 with a $1.2M increase in sales, confirming its improvement in operational efficiency", stated Andre Godin, Vice-President, Administration and Finance.
Neptune continues to strongly support its strategic development plan to
pursue partnerships/strategic alliances with worldwide leaders in
|SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.|
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