Mr. Butler concluded, "We are excited about introducing Iceland Health Advanced Memory Formula this summer via direct response channels, which will include television infomercials, call center and internet e-commerce. We believe this enhances our ability to address a broader segment of our market in a very cost-efficient manner and sets the stage for introducing the product into retail distribution, at a later date, with a loyal customer base."
The Company continues to expect that EBITDA in the fourth quarter ending June 30, 2008 will approach breakeven and that total revenues for the quarter will be in the range of the $10.8 million reported for the third quarter ended March 30, 2008. For the 2009 fiscal year ending June 30, 2009, the Company expects to deliver consistently positive EBITDA on a quarterly basis, with revenues for the year generally in the range of total revenues that will be reported for fiscal year 2008. EBITDA is a non-GAAP measure that is defined as net earnings before interest, taxes, depreciation and amortization.
About Iceland Health(R) Advanced Memory Formula
Iceland Health Advanced Memory Formula, available in soft gel form,
contains a proprietary blend of chromium picolinate, Phosphatidylserine
(PS) and Omega-3 (DHA). These ingredients have been scientifically tested
for their ability to improve cognitive function:
-- Chromium picolinate is an essential trace mineral that promotes
healthy blood sugar, which is important because glucose helps fuel the
-- Phosphatidylserine (PS) is a naturally occurring phospholipid nutrient
essential to the functioning of all cells of the body, but is most
concentrated in th
|SOURCE Nutrition 21, Inc.|
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