Navigation Links
ChromaDex Announces Financial Results for Second Quarter 2011
Date:8/11/2011

IRVINE, Calif., Aug. 11, 2011 /PRNewswire/ -- ChromaDex Corporation (OTCBB: CDXC), an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries, today announced financial results for the second quarter of 2011. On a reported basis and calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced total revenues of approximately $1.9 million and a net loss attributable to common stockholders of $0.03 per share for the three-month period ended July 2, 2011. As of July 2, 2011, cash, cash equivalents, and marketable securities totaled over $2.0 million.

"We made substantial strides related to pTeroPure in the recent quarter, continuing to build a very strong foundation for the business expansion that is underway," stated Frank Jaksch, CEO and co-founder of ChromaDex. "Our results for the quarter did not yet reflect the business building accomplishments we achieved during the period, but we believe the foundation created, with pTeroPure achieving GRAS (generally recognized as safe) status, the upcoming launch of BluScience at GNC, as well as our licensing agreement with beverage industry giant Cott, places ChromaDex in a very strong position from which to grow long-term shareholder value. Beyond pTeroPure, we remain committed to growing our product and service offerings to include other novel ingredients with large market potential in the rapidly growing natural products industry. The recently announced in-license of intellectual property from Cornell, related to the unique Nicotinamide Riboside compound, is evidence of that continued focus."

Additional Financial Results & NotesOn a reported basis, ChromaDex recorded revenue of $1,937,976 during the second quarter of 2011 as compared to $2,033,861 for the same period in 2010. The net loss attributable to common stockholders for the quarter ended July 2, 2011 was $1,842,569 as compared to a net loss of $303,529 for the same period in 2010. The net loss in the second quarter of 2011 was significantly impacted by an increase in non-cash, share-based compensation expense related to the stock options that were granted following the May 20, 2010 private placement and the restricted stock that was issued to certain employees and consultants. When the net loss is adjusted to exclude the effects of non-cash charges associated with share-based compensation expense, a "non-GAAP" presentation, the net loss for the second quarter of 2011 is $1,073,864 and the loss per share for the second quarter of 2011 is $0.02.

About ChromaDexChromaDex is an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries. The company has an impressive pipeline of new ingredients, including its pTeroPure brand on which it has worldwide, exclusive patent rights.

ChromaDex Forward-Looking StatementsAny statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.Investor Inquiries:Liviakis Financial Communications, Inc.John M. Liviakis, President415-389-4670John@Liviakis.comChromaDex Contact Laura CarneyExecutive Assistant to the CEO, President, and CFO10005 Muirlands Blvd, Suite G, Irvine, CA 92618949-419-0288LauraC@chromadex.comChromaDex Corporation and SubsidiariesCondensed Consolidated Statements of Operations (Unaudited)For the Three Month Periods Ended July 2, 2011 and July 3, 2010July 2, 2011July 3, 2010Sales

$
,937,976$
2,033,861Cost of sales

1,357,0581,258,172Gross profit580,918775,689Operating expenses:Sales and marketing

565,975228,351General and administrative

1,849,733840,538Operating expenses2,415,7081,068,889Operating loss (1,834,790)(293,200)Nonoperating income (expenses):Interest income

430397Interest expense

(8,209)(10,726)Nonoperating loss(7,779)(10,329)Net loss$
(1,842,569)$
(303,529)Basic and Diluted loss per common share

$
(0.03)$
(0.01)Basic and Diluted average common shares outstanding

65,001,97943,623,403See Notes to Condensed Consolidated Financial Statements.Quantitative Reconciliation of the differences between the non-GAAP measure and the associated comparable GAAP measureCondensed Consolidated Statements of Operations (Unaudited, US GAAP) For the Three Month Periods Ended July 2, 2011 and July 3, 2010July 2, 2011July 3, 2010Sales

$   1,937,976$   2,033,861Cost of sales

1,357,0581,258,172Gross profit580,918775,689Operating expenses:Sales and marketing

565,975228,351General and administrative

1,849,733840,538Operating expenses

2,415,7081,068,889Operating loss (1,834,790)(293,200)Nonoperating income (expenses):Interest income

430397Interest expense

(8,209)(10,726)Nonoperating loss(7,779)(10,329)Net loss$ (1,842,569)$
(303,529)Basic and Diluted loss per common share

$
(0.03)$
(0.01)Basic and Diluted  average common shares outstanding

65,001,97943,623,403Effects of Non-cash Charges associated with  Share-based Compensation Expense For the Three Month Periods Ended July 2, 2011 and July 3, 2010July 2, 2011July 3, 2010Sales

$
-$
-Cost of sales

--Gross profit--Operating expenses:Sales and marketing

--General and administrative

(768,705)(230,858)Operating expenses

(768,705)(230,858)Operating income768,705230,858Nonoperating income:Interest income

--Interest expense

--Nonoperating income--Net income$
768,705$
230,858Basic and Diluted income per common share

$
.01$
.01Basic and Diluted  average common shares outstanding

65,001,97943,623,403Condensed Consolidated Statements of Operations Excluding Share-based Compensation (Non-GAAP Presentation) For the Three Month Periods Ended July 2, 2011 and July 3, 2010July 2, 2011July 3, 2010Sales

$   1,937,976$   2,033,861Cost of sales

1,357,0581,258,172Gross profit580,918775,689Operating expenses:Sales and marketing

565,975228,351General and administrative

1,081,028609,680Operating expenses

1,647,003838,031Operating loss (1,066,085)(62,342)Nonoperating income (expenses):Interest income

430397Interest expense

(8,209)(10,726)Nonoperating loss(7,779)(10,329)Net loss$ (1,073,864)$
(72,671)Basic and Diluted loss per common share

$
(0.02)$
(0.00)Basic and Diluted  average common shares outstanding

65,001,97943,623,403
'/>"/>

SOURCE ChromaDex Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. ChromaDex Partners With Kappa Bioscience to Provide Quality Control Methods, Tools and Services for Vitamin K2
2. ChromaDex and Bruker Optics Sign Agreement to Expedite Dietary Supplement Testing for Compliance With FDA Good Manufacturing Practice Requirements
3. Nutraceutical International Corporation Launches Product Featuring ChromaDexs pTeroPure™ Pterostilbene
4. Life Extension® Launches New Product Containing ChromaDexs pTeroPure® Pterostilbene
5. ChromaDex Licenses Additional Technology for pTeroPure® From the University of Mississippi
6. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
7. EDAP Announces Launch of Clinical Study Combining HIFU and Chemotherapy for Localized Aggressive High Risk Prostate Cancer
8. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
9. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
10. DOV Pharmaceutical, Inc. Announces Successful Phase Ib Results for DOV 21,947
11. Phosphagenics Announces Positive Phase 1b Transdermal Insulin Clinical Trial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/13/2017)... 13, 2017   OrthoAtlanta has been named the ... Host Committee (AFHC) for the 2018 College Football Playoff (CFP) ... at Mercedes-Benz Stadium in Atlanta, Georgia . ... "I,m In" campaign, participating in many activities leading up to, ... ...
(Date:9/12/2017)... , Sept. 12, 2017  Consumer reviews on the independent review ... as the number one company for hearing aids, ranking it higher ... other brands. ... Named #1 by Consumers For Hearing Aids ... Embrace Hearing is an online store that provides high performance, state-of-the-art, ...
(Date:9/9/2017)... ... ... Monday, September 18 th .The Brain Tumor Foundation (BTF) begins a week-long ... BTF,s Mobile MRI Unit – a 70 Ft. ... brings its nationwide initiative, the Road to Early Detection Sponsor-A-City Campaign to ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... 13, 2017 , ... Lori R. Somekh, founder of the Law Office ... of elder law and special needs planning attorneys. “Membership in ElderCounsel helps our office ... forum to network with elder law attorneys nationwide,” said Somekh. , ElderCounsel ...
(Date:10/13/2017)... ... 2017 , ... The Visiting Nurse Association (VNA) of Somerset Hills is proud ... and unique items from across the nation, this holiday-themed event will raise funds and ... the VNA. The boutique will be open Saturday, November 4 (10:00 a.m. – ...
(Date:10/13/2017)... ... October 13, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at The House ... most popular and least understood books in the Holy Scriptures, Revelation. The Book of ... baffled scholars for centuries. Many have tossed it off as mere rubbish, but Yisrayl ...
(Date:10/13/2017)... ... ... “The Journey: From the Mountains to the Mission Field”: the story of a ... “The Journey: From the Mountains to the Mission Field” is the creation of published ... all ages and currently teaches a class of ladies at her church, which she ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent ... sleep apnea using cutting-edge Oventus O2Vent technology. As many as 18 million ... by frequent cessation in breathing. Oral appliances can offer significant relief to about ...
Breaking Medicine News(10 mins):