Navigation Links
Martek Announces First Quarter 2008 Financial Results
Date:3/5/2008

tside of infant formula.

Liquidity

For the first quarter of fiscal 2008, the Company generated $15.1 million of cash from operating activities. Contributing to this cash generation was a near $2 million decline in Martek's inventory balance at quarter-end compared with the amount on-hand at the end of fiscal 2007. At the end of the quarter, Martek had $22.1 million in cash and had the entire balance of its long-term revolving credit facility ($135 million) available for future borrowing.

The Company holds a variety of "AAA" rated interest-bearing auction rate securities which are comprised of student loans guaranteed by the federal government. As a result of current negative conditions in the global credit markets, auctions for the Company's $15.8 million investment in these securities either have failed or may fail to settle on their respective settlement dates which will occur over the next few weeks. Given our strong liquidity position and expected positive operating cash flows, the Company has the ability to execute its business plan and intends to hold these securities until conditions improve. As such, the Company has reclassified these securities from short-term investments to long-term investments on its balance sheet as of January 31, 2008.

Significant Recent Events

-- Multi-Year Sole Source Supply Agreement with Numico -- In February

2008, Martek and Numico Trading B.V. ("Numico") entered into a license

and supply agreement (the "Agreement"), effective as of January 1,

2008. The Agreement provides that Martek will serve as the exclusive

supplier for all of Numico's arachidonic acid (ARA) and microbially-

derived docosahexaeonic acid (DHA) needs for infant formula products.

Numico may continue to use alternative non-microbial DHA sources. The

Agreement has a 15-year term that runs until December 31, 2022. In

addition to customary termination pr
'/>"/>

SOURCE Martek Biosciences Corporation
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11

Related medicine news :

1. Marteks lifesDHA(TM) Featured in Three New Offerings of Baby Food from Plum Organics
2. Summary Notice of Proposed Settlement and Settlement Hearing in Re Martek Biosciences Corp., Securities Litigation
3. Pocket Rocket Juice from Australias Boost Juice Features 700 mg of Marteks lifesDHA(TM)
4. Martek Announces Settlement of Class Action Lawsuit
5. Marteks lifesDHA(TM) Featured in Dalco Foods Wellness Line Meat Products
6. Martek Signs Exclusive Worldwide Distributorship Agreement with Novus International
7. Martek Wins German DHA Patent Infringement Actions Against Lonza and One of Nutrinovas Customers in Suits Relating to DHA Product Marketed for Use in Functional Foods and Dietary Supplements
8. Marteks lifesDHA(TM) Featured in New Beech-Nut(R) DHA Plus Baby Food and Cereals
9. Martek Signs Multi-Year Infant Formula License and Supply Agreement with Alter Farmacia
10. Martek Announces Addition of lifesDHA(TM) to Entire Bellybar(TM) Line of Nutrition Bars
11. Martek Announces Third Quarter 2007 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/30/2015)... ... July 30, 2015 , ... Eyepartner is proud ... in San Diego, California’s Gaslamp Quarter Plaza for five years this September. , ... monitor the area for any suspicious activity. These cameras are in place to ...
(Date:7/30/2015)... ... July 30, 2015 , ... " DevExpress ” ... a look at small, medium, and large businesses making an impact in their ... business review and shared with viewers how DevExpress has provided software development tools ...
(Date:7/30/2015)... ... July 30, 2015 , ... The Beryl ... Scholar Program. In partnership with Patient Experience Institute, these offerings reinforce the commitment ... the front lines and throughout the experience movement, and provide information and research ...
(Date:7/30/2015)... , ... July 30, 2015 , ... ... today that the latest issue of Inclusive™ magazine, its multimedia publication focused on ... digital edition of the new issue, Volume 6, Issue 2, as well as ...
(Date:7/30/2015)... ... July 30, 2015 , ... Between 2012 and 2014 HIV ... Health News Florida on June 17th. Those untreated heroin use disorders share their ... the spread of dirty needles throughout the community. Ultimately Florida’s HIV infection rates have ...
Breaking Medicine News(10 mins):Health News:Eyepartner Software Helps Victims in Gaslamp Quarter Plaza 2Health News:Eyepartner Software Helps Victims in Gaslamp Quarter Plaza 3Health News:Software to Develop High-Performance Data-Driven Apps was Featured on NewsWatch Television 2Health News:The Beryl Institute Opens Applications for 2015 Patient Experience Grant and Scholar Programs 2Health News:The Beryl Institute Opens Applications for 2015 Patient Experience Grant and Scholar Programs 3Health News:Glidewell Laboratories Puts Out Latest Issue of Dental Implant Magazine Inclusive™ 2Health News:Glidewell Laboratories Puts Out Latest Issue of Dental Implant Magazine Inclusive™ 3Health News:Glidewell Laboratories Puts Out Latest Issue of Dental Implant Magazine Inclusive™ 4Health News:HIV Rates Rise in S. Florida, Harbor Village Comments on Health News Florida's Recent Article 2Health News:HIV Rates Rise in S. Florida, Harbor Village Comments on Health News Florida's Recent Article 3
... The naturally high levels of leptin in diabetic patients ... treat heart blockages, but using a chemical that differs ... counteract this effect. , The work by researchers at ... diabetics who get stents, they say. Though drug-eluting stents ...
... Pheromone,Sciences, Inc. (OTC Bulletin Board: EROX) ("HPS" or "the ... with the U.S. Patent and,Trademark Office for the use ... in sea coral, which has significant emotional impacts,on both ... well-being and social attraction. , ...
... United Health Foundation announced its commitment to American Indian ... Indian Country by donating $45,000 for nine $5,000 scholarships ... support of Arizona students pursuing careers in the health ... scholarship recipients were chosen based on their academic achievement, ...
... SACRAMENTO, Calif., Dec. 17 Sutter Health has announced,the ... general,counsel. She will assume her new role January 5, ... , Formerly senior ... Eisenbeis, LLP (HRDE) for the past two decades, DiBenedetto,served ...
... Hospital have answered a central question in cancer biology: ... Stem cells are immature cells that can renew themselves ... the range of body tissues. In recent years, researchers ... forms of stem cells. , Like a brand-name ...
... Combines ZEISS,s Precision Progressive Lenses and Transitions® Lenses to Produce Optimal ... ... 17, 2008 -- Two of the most distinguished names in the ... leading-edge eyewear., , ,Carl Zeiss Vision, a leader for 160 years ...
Cached Medicine News:Health News:HPS Files Patent for Mood-Enhancing Compound Naturally Found in Sea Coral 2Health News:United Health Foundation Provides $45,000 for Scholarships to the American Indian College Fund for Arizona Healthcare Students 2Health News:United Health Foundation Provides $45,000 for Scholarships to the American Indian College Fund for Arizona Healthcare Students 3Health News:Sutter Health Welcomes New General Counsel 2Health News:Molecular marker identifies normal stem cells as intestinal tumor source 2Health News:Carl Zeiss Vision and Transitions Optical Inc. Promote Pioneering Eyewear to Consumers 2
(Date:7/30/2015)... 2015  Growth of the U.S. nonprescription market is ... prescription users to the OTC market. Due to an ... Rx-to-OTC switch activity over the next five years with ... new brands entering the market into existing categories. ... years (even those with low to moderate likelihood), the ...
(Date:7/30/2015)... 30, 2015  Medimetriks Pharmaceuticals, Inc. announced today ... III clinical study for Ozenoxacin, a novel bactericidal ... the exclusive U.S. rights to Ozenoxacin 1% cream.  ... 44 centers with an emphasis on U.S. patients, ... months and older with a clinical diagnosis of ...
(Date:7/30/2015)... 2015 Vermillion, Inc. (VRML), a ... announced today it will report its second ... close on Thursday, August 13, 2015, followed ... at 4:30pm Eastern.Conference Call and Webcast:  ... Pacific  Domestic: , 888-430-8691International: ...
Breaking Medicine Technology:Rx-to-OTC Switches -- Game Changers for the U.S. OTC Drugs Market through 2019, Sees Kline 2Rx-to-OTC Switches -- Game Changers for the U.S. OTC Drugs Market through 2019, Sees Kline 3Medimetriks Pharmaceuticals, Inc. Announces Completion of the Second Successful Pivotal Phase III Study for Ozenoxacin 2Medimetriks Pharmaceuticals, Inc. Announces Completion of the Second Successful Pivotal Phase III Study for Ozenoxacin 3
... up to 10 inches/ 25 cm thinner than other ... Allegra X-22 Series is the space-saving multipurpose solution for ... / 46 cm wide • 11 Rotor Library • ... ways to Spin 1.5 mL & PCR+ Tubes: ...
... is up to 10 inches/ 25 cm thinner than ... the Allegra X-22 Series is the space-saving multipurpose solution ... inches / 46 cm wide • 11 Rotor Library ... different ways to Spin 1.5 mL & PCR+ Tubes: ...
... centrifuges offer high-volume versatility along with a ... them ideal for a wide variety of ... Four- or six-place sealed swinging bucket rotor, ... offered , Lare capacity (4 x 750 ...
... Multipurpose high performance centrifuge designed to accommodate ... devices is refrigerated for heat labile samples. ... include refrigerated capability with automatic quick cooling ... < 7 min, no maintenance brushless motor, ...
Medicine Products: