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Nutrition 21 Announces Financial Results for Q4 of Fiscal 2009 and Full Year Fiscal 2009
Date:10/15/2009

PURCHASE, N.Y., Oct. 15 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (Nasdaq: NXXI), the developer and marketer of nutritional supplements under the Iceland Health®, Chromax® and Diabetes Essentials® brands that help consumers manage blood sugar levels, improve cardiovascular health, enhance memory and reduce chronic joint pain, today announced financial results for the fourth quarter and the full fiscal year ended June 30, 2009.

For the quarter ended June 30, 2009 the company reported total revenues of $5.4 million compared to $11.0 million in the comparable quarter last year. Net loss for the quarter was $20.7 million, or ($0.31) per fully diluted share, compared to a net loss of $0.9 million, or $(0.01) per fully diluted share in the comparable quarter last year. The net loss for the quarter ended June 30, 2009 includes a $17.5 million non-cash impairment charge relating to goodwill and intangible assets that have indefinite lives.

For the year ended June 30, 2009, total revenues were $39.6 million compared to $47.1 million in the year ended June 30, 2008. Net loss for the year ended June 30, 2009, which includes the $17.5 million non-cash impairment charge mentioned above, was $20.8 million, or ($0.31) per fully diluted share, compared to a net loss in the prior year of $16.9 million, or ($0.27) per fully diluted share.

For the year ended June 30, 2009, the company had an operating profit of $0.2 million before the $17.5 million non-cash impairment charge mentioned above, a $13.6 million improvement over an operating loss of $13.4 million for the year ended June 30, 2008. EBITDA (a non-GAAP measure defined as net earnings before interest, taxes, depreciation and amortization) before the $17.5 million non-cash impairment charge, was $1.3 million for the year ended June 30, 2009, a $12.5 million im
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SOURCE Nutrition 21, Inc.
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