Nutraceutical Reports 2008 Fiscal Year E...( PARK CITY Utah Nov. 20 /- Nutraceutic...),Health

PARK CITY, Utah, Nov. 20 /PRNewswire-FirstCall/ -- Nutraceutical International Corporation (Nasdaq: NUTR) today reported results for the fiscal 2008 fourth quarter and year ended September 30, 2008.

Net sales for the fiscal 2008 fourth quarter were $40.9 million compared to $39.9 million for the same quarter of fiscal 2007. For the fourth quarter of fiscal 2008, net income was $1.5 million, or $0.14 diluted earnings per share, compared to net income of $2.6 million, or $0.23 diluted earnings per share, for the same quarter of fiscal 2007. Net income for the fourth quarter of fiscal 2008 included a non-cash goodwill impairment charge of $1.8 million (net of tax), or $0.17 per diluted share, related to the company's health food stores. Net income for the fourth quarter of fiscal 2007 included a non-cash intangible asset impairment charge of $0.3 million (net of tax), or $0.02 per diluted share, related to the re-branding of certain health food stores.

Net sales for the fiscal year ended September 30, 2008 were $166.9 million compared to $156.5 million for fiscal 2007. For fiscal 2008, net income was $11.9 million (including the $1.8 million goodwill impairment charge), or $1.07 diluted earnings per share (including the goodwill impairment charge of $0.16 per share), compared to net income of $13.0 million (including the $0.3 million intangible asset impairment charge), or $1.15 diluted earnings per share (including the intangible asset impairment charge of $0.02 per share), for fiscal 2007.

Operating cash flow for the fiscal year ended September 30, 2008 was $20.3 million compared to $23.8 million for the same period of fiscal 2007. This operating cash flow, combined with net borrowings of $8.0 million, was used to invest $17.9 million in property and equipment, $5.9 million in acquisitions of branded n
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