Navigation Links
Nutrition 21 Announces Preliminary Fourth Quarter Financial Update Also Announces Negotiations on Notes due August 25, 2009
Date:8/12/2009

PURCHASE, N.Y., Aug. 12 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (Nasdaq: NXXI) today announced that on a preliminary and unaudited basis it expects revenues for the fourth quarter ended June 30, 2009 to approximate $5.5 million and that it expects to incur a net loss for the quarter of approximately $4.0 million before giving effect to an impairment charge for intangible assets. Operating profit for the fiscal year is expected to be positive before giving effect to an impairment charge for intangible assets.

The Company owes approximately $2.7 million in principal and interest on promissory notes due August 25, 2009 that are secured by the Iceland Health(R) trademark. The Company is seeking to avoid default by negotiating an extension or restructuring of these notes.

About Nutrition 21

Nutrition 21, Inc. (NASDAQ: NXXI), headquartered in Purchase, NY, is a nutritional bioscience company and the maker of chromium picolinate-based and omega-3 fish oil-based supplements with health benefits substantiated by clinical research. Nutrition 21 holds more than 30 patents for nutrition products and uses. Nutrition 21's portfolio of health and wellness products include: Iceland Health(R) Chromax Plus(TM), Iceland Health(R) Advanced Memory Formula(TM), Iceland Health(R) Omega-3 Fish Oil, Iceland Health(R) Joint Relief, and Diabetes Essentials(R). The company also manufactures private label supplements and ingredients for third parties. Nutrition 21 distributes its products nationally through more than 30,000 major food, drug and super center stores throughout the United States and internationally. For more information please visit http://www.nutrition21.com.

Safe Harbor Provision

This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the Company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the Company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission, including its Form 10-K/A for the year ended June 30, 2008 and subsequent Forms 10-Q. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.

    Company Contact:
    Alan Kirschbaum
    Chief Financial Officer
    (914) 701-4500


'/>"/>
SOURCE Nutrition 21, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. The Wonder(R) You Love Now Offers Even More of the Nutrition You Need - Wonder Classic and Wonder Classic Sandwich Provide Even More Calcium and Now Have Vitamin D
2. Kraft Foods First Company to Adopt Smart Choices Program Nutrition Criteria for Advertising to Children in the U.S.
3. The Dannon Company Awards The I.J. & Jeanne Wagner Jewish Community Center the Fourth Annual Dannon Next Generation Nutrition Grant
4. The Organic Center Refutes Misleading Nutritional Claims Made by United Kingdoms Food Standards Agency (FSA) in Agency Report on Health Value of Organic Foods
5. Photos: Balance Nutrition and Taste, Reduce Food Waste!
6. Abbott to Acquire Nutrition Businesses, Expanding Presence in India
7. Kaiser Permanente to Provide Calorie, Nutrition Information on Cafeteria Menus
8. ISSA Announces New Specialist in Fitness Nutrition Certification
9. CNCB Post Graduate Studies in Clinical Nutrition (PGSCN) Program is Now Available Online
10. Max Muscle Sports Nutrition Answers Call For Safe Science-Based Weight Loss
11. Good Nutrition Can Fuel the Whole Family, Even the Four-Legged Members
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... ... February 24, 2017 , ... The California State University ... academic faculty engaged in or interested in palliative care education and research. The Symposium, ... held in North County San Diego on Sept. 28 and 29, 2017, on the ...
(Date:2/24/2017)... ... February 24, 2017 , ... Rosica Communications, ... thought leadership , media relations, social media, content marketing and SEO, is ... powered through Act-On, an intuitive marketing automation platform. , Rosica will now offer ...
(Date:2/23/2017)... ... February 23, 2017 , ... The 89th Academy Awards will ... the 2016 National Education Policy Center Bunkum Award. We invite you to enjoy our ... This year’s Bunkum winner is the Center for American Progress (CAP), for its report, ...
(Date:2/23/2017)... , ... February 23, 2017 , ... Hamlin Dental Group ... that they are sponsoring a raffle. Throughout the month of February, patients who visit ... a gift card for a dinner for two at the Cheesecake Factory. , ...
(Date:2/23/2017)... ... February 23, 2017 , ... Pink Pig Publishing ... generations converge and explore the world from different perspectives. By providing a place ... to gain understanding, increase empathy, and find greater happiness. , "Our approach ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... NEW YORK , Feb. 23, 2017  Genesis ... HME Company. The announcement was made by Bill ... David Hartley and Nathan Feltman , ... of Genesis Healthcare Services, LLC. This ... nation,s largest provider of technology enabled durable medical equipment ...
(Date:2/23/2017)... -- Cogentix Medical, Inc. (NASDAQ: CGNT), a medical device company ... the urology market, will release financial results for the ... before the market open on Thursday, March 9, 2017. ... call and webcast to discuss its financial results the ... a.m. Eastern Time (10:00 a.m. Central Time). Darin ...
(Date:2/23/2017)... REDWOOD CITY, Calif., Feb. 23, 2017 Nevro Corp. ... innovative evidence-based solutions for the treatment of chronic pain, today ... ended December 31, 2016. 2016 Accomplishment & ... the full year 2016, an increase of 228% as reported, ... million for 2016, an increase of 612% over the prior ...
Breaking Medicine Technology: