PURCHASE, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (Nasdaq: NXXI), the developer and marketer of nutritional supplements under the Chromax(R), Diabetes Essentials(TM) and Iceland Health(R) brands that help consumers manage blood sugar levels, improve cardiovascular health, enhance memory and reduce chronic joint pain, today announced financial results for the second quarter of fiscal year 2008 ended December 31, 2007.
The Company reported a 43% increase in total revenues to $13.0 million compared to $9.1 million in the comparable quarter a year ago. For the quarter, the Company's operating loss of $2.8 million represents a $1.6 million improvement over the year-ago period. Financial results for the quarter were impacted by a $2.4 million increase in advertising and promotion to support the launch of new products and a $0.7 million increase in net interest expense. Net loss for the quarter was $3.8 million, or $(0.06) per fully diluted share, compared to the net loss of $4.7 million, or $(0.08) per fully diluted share in the second quarter of fiscal year 2007.
Total revenues for the six months ended December 31, 2007 increased 83% to $25.2 million compared to $13.8 million in the same period a year ago. The Company's six-month operating loss was $6.5 million which is a $1.5 million improvement over the prior year. Net loss for the six months ended December 31, 2007 was $7.9 million, or $(0.13) per fully diluted share, compared to $8.8 million, or $(0.16) per fully diluted share, in the comparable period a year ago.
Paul Intlekofer, president and chief executive officer of Nutrition 21,
Inc., said, "We are pleased with the progress that was achieved during the
quarter in terms of growing revenues stron
|SOURCE Nutrition 21, Inc.|
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