- Revenue Increases by 34% from Prior Year
- Revenue Increases to $7,461,000 from $5,570,000
- Earnings Per Share Equals $0.04 vs. $0.16 Loss for Prior Year
SAN DIEGO, June 17 /PRNewswire-FirstCall/ -- Imagenetix, Inc. (OTC Bulletin Board: IAGX) announced today results for its fiscal year ended March 31, 2009. Net sales increased 34% for the year to $7,461,000 from the $5,570,000 reported for the same period last year.
Gross profit as a percentage of sales increased to 46% from 40% percent for the prior fiscal year. This increase was primarily due to sales mix, which included increased sales in the Company's mass market segment under its branded product - Inflame Away Celadrin.
Net profit for the year was $464,270 or $.04 per share compared to ($1,776,642) or ($0.16) per share in the prior fiscal year.
Commenting on the results of the year, Mr. William Spencer, Imagenetix Chief Executive Officer said, "We are anticipating solid growth for fiscal 2010 which should generate significant profits for the Company. Sales and profit growth are expected to primarily stem from our mass market related sales."
Imagenetix, based in San Diego, California, is an innovator of scientifically tested, natural-based, proprietary, bioceutical products developed to enhance human health on a global basis. Imagenetix develops and formulates propriety over-the-counter topical creams, skincare products and nutritional supplements to be marketed globally through multiple channels of distribution. In addition, the company develops patentable compounds for entering into licensing agreements with pharmaceutical partners. Imagenetix is the creator of Inflame Away(R)-Celadrin(R). Please visit, www.celadrin.com or www.imagenetix.net.
|SOURCE Imagenetix, Inc.|
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