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Neptune Technologies Reports Record Fiscal 2008 Fourth Quarter and Year End Results
Date:8/28/2008

ded May 31, 2008, EBITDA(1) decreased by $484,000 to $1,020,000 compared to the previous fiscal year, ended May 31, 2007 of $1,504,000, mainly due to expenses related to the devaluation of the U.S. dollar, implementation of compliance with internal control regulations (52-109, Sarbanes-Oxley) and in an ERP(2) management software and quality assurance program.

Net loss for the three-month period, ended May 31, 2008 was $1,285,000 or $0.035 per share, compared to a net loss of $1,488,000 or $0.041 per share, for the three-month period ended May 31, 2007. For the fiscal year 2008, ended May 31, 2008, net loss amounted to $4,785,000 or $0.130 per share, compared to a net loss of $2,677,000 or $0.075 per share in the previous fiscal year.

Excluding non-monetary items, stock option based compensation and amortization, Neptune would have generated a profit of $303,000 for the fiscal year ended May 31, 2008. Neptune's cash position and financial performance provide for a self-sustainable business as an operational and innovative biotechnology company. As of May 31, 2008, Neptune's cash and cash equivalents totalled $2,712,000.

Financial Outlook

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After the plant capacity and productivity increase, Neptune expects to generate $18 million to $24 million in annual revenue driven by its existing partners and its recently entered alliances with Schiff Nutrition, AZPA International and Croda Health Care. The foregoing outlook is based upon information currently available to management and is subject to change. Neptune's actual results may differ materially from this projection.

(1) Earnings before Interest, Taxes, Depreciation, and Amortization

(2) Enterprise Resource Planning

About Neptune

Neptune researches and develops proprietary bioactive ingredients and products for nutraceutical and pharmaceutical applications and is carrying out clinical research to show the therapeutic benefits in various medi
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SOURCE NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.
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