Navigation Links
Nutrition 21 Announces Preliminary Fourth Quarter Financial Update Also Announces Negotiations on Notes due August 25, 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

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:
(Date:6/27/2016)... ... June 27, 2016 , ... ... announced its strategic partnership with Connance, a healthcare industry leader providing predictive ... proven, proprietary technology combine to provide health systems, hospitals and ambulatory surgical ...
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in ... ways they remain in the eye of the beholder, according to experts who offered ... The American Journal of Managed Care. For the full issue, click here . ...
(Date:6/26/2016)... ... 2016 , ... PawPaws brand pet supplements owned by Whole Health ... the health of felines. The formula is all-natural and is made from Chinese herbs ... Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia ...
(Date:6/25/2016)... Washington, D.C. (PRWEB) , ... June 25, 2016 ... ... will discuss health policy issues and applications at AcademyHealth’s Annual Research Meeting June ... share their work on several important health care topics including advance care planning, ...
(Date:6/25/2016)... ... ... "With 30 hand-drawn hand gesture animations, FCPX users can easily customize each ... Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn pictures into hand ... select a ProHand generator and drag it above media or text in the Final ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... DUBLIN , June 27, 2016 Jazz ... the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act ... proposed acquisition of Celator Pharmaceuticals, Inc. ("Celator"; Nasdaq: ... 11:59 p.m. (Eastern Daylight Time). As previously ... entered into a definitive merger agreement under which Jazz ...
(Date:6/24/2016)... CHAPEL HILL, N.C. , June 24, 2016 ... in healthcare decisions and regulators/payers have placed more ... this new environment, patient support programs in the ... support for patients, medications. Consequently, pharmaceutical companies are ... to ensure they are providing products and services ...
(Date:6/24/2016)... , June 24, 2016   Bay Area ... Network,s Dean Center for Tick Borne Illness ... and Rehabilitation, MIT Hacking Medicine, University of California, ... today announced the five finalists of Lyme ... disease.  More than 100 scientists, clinicians, researchers, entrepreneurs, ...
Breaking Medicine Technology: