Neptune Technologies & Bioressources Inc. reports third quarter results and update on strategic ... ( LAVAL QC April 14 / Neptune Techn...)

Neptune Technologies & Bioressources Inc. reports third quarter results and update on strategic milestones

Date:4/14/2008

LAVAL, QC, April 14 /PRNewswire-FirstCall/ - Neptune Technologies & Bioressources Inc. ("Neptune") (NASDAQ.NEPT - TSX.V.NTB) today announced operational and financial results for the fiscal 2008 third quarter and nine-month period ended February 29, 2008 and provided an update on recent strategic milestones achieved.

Sales volume grew by 22% in the three-month period ended February 29, 2008 compared to the three-month period ended February 28, 2007 and 29% in the nine months ended February 29, 2008 compared to the same period a year earlier, which is not fully reflected in the revenues, due to the impact of the U.S. dollar devaluation on 85% of the sales. Total revenue for the three-month period ended February 29, 2008 was $2,875,000 compared to $2,889,000 for the third quarter ended February 28, 2007 and total revenue for the nine-month period ended February 29, 2008 was $7,129,000, representing an increase of 11.6%, compared to $6,388,000 for the nine-month period ended February 28, 2007.

The Company generated a net loss of $866,000, or $0.024 per share, for the three-month period ended February 29, 2008, compared to a net loss of $455,000, or $0.013 per share, for the three-month period ended February 28, 2007. Excluding non-monetary items, stock option based compensation and amortization, Neptune would have generated a profit of $194,000 for the three-month period ended February 29, 2008 and $285,000 for the nine-month period ended February 29, 2008. Neptune generated positive cash flow from operating activities during the three months ended February 29, 2008 and the Company's cash, cash equivalents and short-term deposits amounted to $3,316,000 at February 29, 2008.

Milestones

Neptune has achieved several milestones so far during fiscal year 2008:

Signed strategic commercialization alliance with Croda Health Care

Neptune entered into an alliance with Croda Health Care, the omega-3 industry leader, which exp
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Neptune Technologies & Bioressources Inc. reports third quarter results and update on strategic ...( LAVAL QC April 14 / Neptune Techn...)