LAVAL, QC, Oct. 12 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. (Neptune) (NASDAQ.NEPT - TSX.V.NTB), "Neptune" today announced its results for the first quarter ended August 31st, 2007.
- First Quarter ended August 31, 2007:
- Sales increased by 34% to $2,085,000 compared to $1,552,000, for
the first quarter of the fiscal year ended May 31st, 2007.
- EBITDA increased by 10% to $332,000 compared to $303,000 for the
first quarter of the fiscal year ended May 31st, 2007.
- Excluding non-monetary stock-based compensation expenses for both
years, Neptune would have realized earnings of $22,000 instead of
a loss of $1,051,000 for the first quarter of the fiscal year
ended May 31st, 2008 compared to earnings of $48,000 instead of a
loss of $286,000 for the same period of last year.
"Neptune continues its worldwide commercialization efforts which translates into great sales progress which generates sufficient cash flow to finance our normal business operations growth", stated Mr. Andre Godin, Vice President, Administration and Finance.
Neptune continues to strongly support its strategic development plan to form partnerships/strategic alliances with worldwide leaders in the nutraceutical and pharmaceutical industries. In accordance with its plan, Neptune has signed agreements with Nestle and Yoplait paving its entrance in the global functional food market. According to its business strategy, negotiations with pharmaceutical companies with the objective of entering into the pharmaceutical market by licensing rights is an ongoing and top priority for Neptune.
Neptune announces a corporate reorganization following recent progress
in strategic and business development. Dr. Tina Sampalis has been promoted
to Chief Scientific Officer and Thierry Houillon,
|SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.|
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