PURCHASE, N.Y., Feb. 5 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (Nasdaq: NXXI), the developer and marketer of nutritional supplements under the Iceland Health(R), Chromax(R) and Diabetes Essentials(R) brands that help consumers manage blood sugar levels, improve cardiovascular health, enhance memory and reduce chronic joint pain, today announced financial results for the second quarter and the first half of fiscal year 2009.
For the quarter the Company reported total revenues of $12.9 million compared to $13.0 million in the comparable quarter last year. Net income for the quarter was $102,000, or $0.00 per fully diluted share, compared to a net loss in the comparable quarter last year of $3.8 million, or $(0.06) per fully diluted share. The improvement in net income is largely due to a reduction in operating expenses primarily driven by lower advertising and promotion expense as the Company continues to calibrate its spending in relation to revenue growth.
For the first half of fiscal year 2009 total revenues increased 1.3% to $25.5 million compared to $25.2 million in the first half of fiscal year 2008. Net income for the six-months was $316,000, or $0.00 per fully diluted share, compared to a net loss in the comparable period last year of $7.9 million, or $(0.13) per fully diluted share. The improvement in net income is a direct result of lower operating expenses, notably reductions in advertising and promotion expense.
Michael A. Zeher, president and chief executive officer of Nutrition 21, commented, "We are pleased to have reported our second consecutive profitable quarter, particularly in light of the challenging current economic environment. Sales of Nutrition 21 products to our major retailers increased 40% versus the comparable quarter last year. We are pleased with the traction that our strategic op
|SOURCE Nutrition 21, Inc.|
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