Navigation Links
Nutraceutical Reports Fiscal 2013 Q3 Results

PARK CITY, Utah, July 25, 2013 /PRNewswire/ -- Nutraceutical International Corporation (NASDAQ:  NUTR) today reported results for the fiscal 2013 third quarter ended June 30, 2013.  Net sales for the fiscal 2013 third quarter were $50.8 million compared to $49.6 million for the same quarter of fiscal 2012.  For the third quarter of fiscal 2013, net income was $3.8 million, or $0.39 diluted earnings per share, compared to net income of $3.4 million, or $0.34 diluted earnings per share, for the same quarter of fiscal 2012.  Net income for the third quarter of fiscal 2012 included a non-cash intangible asset impairment charge of $0.6 million, net of tax, or $0.06 per diluted share, related to the consolidation of certain brands. 

Net sales for the nine months ended June 30, 2013 were $157.1 million compared to $150.1 million for the same period of fiscal 2012.  For the nine months ended June 30, 2013, net income was $12.9 million, or $1.31 diluted earnings per share, compared to net income of $11.6 million, or $1.16 diluted earnings per share (including the intangible asset impairment charge), for the same period of fiscal 2012. 

Operating cash flow for the nine months ended June 30, 2013 was $19.2 million compared to $23.4 million for the same period of fiscal 2012.  The operating cash flow for the nine months ended June 30, 2013 was primarily used to pay a special cash dividend to stockholders on December 28, 2012 of $9.8 million and to invest $6.2 million in purchases of property, plant and equipment and $2.9 million in purchases of common stock for treasury.

Bill Gay, chairman and chief executive officer, commented, "Our fiscal 2013 third quarter net sales, net income and adjusted EBITDA remained strong.  During the quarter, management initiated strategic improvements in our manufacturing processes to lay the groundwork for long-term cost savings in materials, labor and overhead.  These manufacturing changes should be fully implemented by the end of our fiscal fourth quarter.  Management believes these internal operational enhancements are important to implement at the present time in order to achieve long-term cost savings.  Management's objective is to offset other less controllable expenses, which continue to rise, and to enhance inventory management and product fulfillment."

Mr. Gay stated, "Acquisitions of small to medium size companies remain a primary focus for our continued growth and to provide our customers with the best selection of unique products.  Our key retail customers have continued to grow and consolidate the fragmented marketplace despite the overall sluggish economy.  We continue to integrate and reposition our brands and products into targeted collections to enhance their marketing position.  We believe that our business should continue to prosper as a result of the ongoing support from our customers, stockholders, management and employees."


We are an integrated manufacturer, marketer, distributor and retailer of branded nutritional supplements and other natural products sold primarily to and through domestic health and natural food stores.  Internationally, we market and distribute branded nutritional supplements and other natural products to and through health and natural product distributors and retailers.  Our core business strategy is to acquire, integrate and operate businesses in the natural products industry that manufacture, market and distribute branded nutritional supplements.  We believe that the consolidation and integration of these acquired businesses provides ongoing financial synergies through increased scale and market penetration, as well as strengthened customer relationships.

We manufacture and sell nutritional supplements and other natural products under numerous brands including Solaray®, KAL®, Nature's Life®, LifeTime®, Natural Balance®, bioAllers®, Herbs for Kids®, NaturalCare®, Health from the Sun®, Life-flo®, Organix South®, Pioneer® and Monarch Nutraceuticals™. 

We own neighborhood natural food markets, which operate under the trade names The Real Food Company™, Thom's Natural Foods™ and Cornucopia Community Market™.  We also own health food stores, which operate under various trade names including Fresh Vitamins™, Granola's™, Nature's Discount® and Warehouse Vitamins™.

We manufacture and/or distribute one of the broadest branded product lines in the industry with over 7,000 SKUs, including approximately 900 SKUs sold internationally.  We believe that as a result of our emphasis on innovation, quality, loyalty, education and customer service, our brands are widely recognized in health and natural food stores and among their customers.

This Press Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to our financial condition, results of operations and business. These forward-looking statements can be identified by the use of terms such as "believe," "expects," "plan," "intend," "may," "will," "should," "can," or "anticipates," or the negative thereof, or variations thereon, or comparable terminology, or by discussions of strategy. These statements involve known and unknown risks, uncertainties and other factors that may cause industry trends or our actual results to be materially different from any future results expressed or implied by these statements.  Important factors that may cause our results to differ from these forward-looking statements include, but are not limited to: (i) changes in or new government regulations or increased enforcement of the same, (ii) unavailability of desirable acquisitions or inability to complete them, (iii) increased costs, including from increased raw material or energy prices, (iv) changes in general worldwide economic or political conditions, (v) adverse publicity or negative consumer perception regarding nutritional supplements, (vi) issues with obtaining raw materials of adequate quality or quantity, (vii) litigation and claims, including product liability, intellectual property and other types,  (viii) disruptions from or following acquisitions including the loss of customers, (ix) increased competition, (x) slow or negative growth in the nutritional supplement industry or the healthy foods channel, (xi) the loss of key personnel or the inability to manage our operations efficiently, (xii) problems with information management systems, manufacturing efficiencies and operations, (xiii) insurance coverage issues, (xiv) the volatility of the stock market generally and of our stock specifically, (xv) increases in the cost of borrowings or unavailability of additional debt or equity capital, or both, or fluctuations in foreign currencies, and (xvi) interruption of business or negative impact on sales and earnings due to acts of God, acts of war, terrorism, bio-terrorism, civil unrest and other factors outside of our control.  Copies of our SEC reports are available upon request from our investor relations department or may be obtained at the SEC's website (

© 2013 Nutraceutical Corporation.  All rights reserved. NUTRACEUTICAL INTERNATIONAL CORPORATIONCONDENSED CONSOLIDATED BALANCE SHEETS(unaudited; dollars in thousands) June 30, September 30,20132012AssetsCurrent assets, net

$   70,492$
8,268Property, plant and equipment, net


15,04614,752Other non-current assets, net

25,36727,444$ 186,940$
85,918Liabilities and Stockholders' EquityCurrent liabilities

$   20,635$
20,670Long-term liabilities

32,61734,192Stockholders' equity133,688131,056$ 186,940$
85,918NUTRACEUTICAL INTERNATIONAL CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(unaudited; dollars in thousands, except per share data)Three months ended June 30,Nine months ended June 30,2013201220132012Net sales

49,607$  157,141$  150,106Cost of sales

25,93524,87879,97175,131Gross profit

24,87924,72977,17074,975Operating expensesSelling, general and administrative

17,89617,98754,32453,783Amortization of intangible assets

5564931,7011,438Impairment of intangible asset

-850-850Income from operations

6,4275,39921,14518,904Interest and other expense, net

3363881,0241,124Income before provision for income taxes

6,0915,01120,12117,780Provision for income taxes

2,2491,6597,2496,187Net income

,593Net income per common shareBasic


0.390.341.311.16Weighted average common shares outstandingBasic


9,793,0459,872,0789,794,8519,960,100NUTRACEUTICAL INTERNATIONAL CORPORATIONADJUSTED EBITDA SCHEDULE(unaudited; dollars in thousands)Three months ended June 30,Nine months ended June 30,2013201220132012Net income

$ 3,842$ 3,352$ 12,872$ 11,593Provision for income taxes

2,2491,6597,2496,187Interest and other expense, net (1)

3363881,0241,124Depreciation and amortization 

2,4862,2037,3256,411Impairment of intangible asset (2)

-850-850Adjusted EBITDA

$ 8,913$ 8,452$ 28,470$ 26,165(1)

Includes amortization of deferred financing fees. (2)

A non-cash intangible asset impairment charge of $850 related to the consolidation of certain brands was recorded for the three months and nine months ended June 30, 2012.Non-GAAP Financial MeasuresAdjusted EBITDA (a non-GAAP measure) is defined in our debt covenants and performance measures as earnings before net interest and other expense, taxes, depreciation, amortization and intangible asset impairment.  We believe that Adjusted EBITDA provides useful additional information to analysts, creditors, investment bankers and management regarding operating performance and debt covenant compliance.  Adjusted EBITDA has some inherent limitations in measuring operating performance due to the exclusion of certain financial elements such as depreciation and amortization and is not necessarily comparable to other similarly-titled captions of other companies due to potential inconsistencies in the method of calculation.  Furthermore, Adjusted EBITDA is not intended to be an alternative to net income in determining our operating performance in accordance with generally accepted accounting principles. 

SOURCE Nutraceutical International Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Global Nutraceuticals Industry
2. Cannabis Science Gets Set to Release "Phytiva" Its Newest Brand of Over-the-Counter Skin and Nutraceutical Product Lines Through its Newest Venture Phytiva Pharmaceuticals Inc.
3. Varian Medical Systems Reports Results for Third Quarter of Fiscal Year 2013
4. Water Treatment Industry Reports: Equipment Research for US & Global Wastewater Treatment Markets
5. InterMune Reports Second Quarter 2013 Financial Results And Business Highlights
6. Sangamo BioSciences Reports Second Quarter 2013 Financial Results
7. Lilly Reports Second-Quarter 2013 Results
8. Isis Reports Phase 2 Data on ISIS-APOCIII Rx Showing Significant Reductions of ApoC-III and Triglycerides in Patients With High Triglycerides Taking Fibrates
9. Danaher Reports Record Second Quarter 2013 Results
10. Pharmsynthez Reports Full Year 2012 Results in line US GAAP Financial Reporting
11. Johnson & Johnson Reports 2013 Second-Quarter Results:
Post Your Comments:
(Date:10/5/2017)... 5, 2017  In response to the nationwide ... Maxillofacial Surgeons (AAOMS) released prescribing recommendations that urge ... used as a first-line therapy to manage a ... Recognizing the value and importance ... "Opioid Prescribing: Acute and Postoperative Pain Management" stresses ...
(Date:10/4/2017)... , Oct. 4, 2017 OBP ... self-contained, illuminating medical devices, today announced regulatory approval ... Surveillance Agency (or Agência Nacional de Vigilância Sanitária ... single-use, cordless surgical retractor with integrated LED light ... access, illumination and exposure of a tissue pocket ...
(Date:10/2/2017)... 2017  AllianceRx Walgreens Prime, the combined central specialty ... pharmacy benefit manager Prime Therapeutics LLC (Prime), today officially ... the unveiling of new signage at its headquarters in ... at a few other company-owned facilities across the country. ... some of whom will begin to see the AllianceRx ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... The American Board of Family Medicine's (ABFM) ... and Chief Executive Officer, succeeding Dr. James C. Puffer upon his retirement. Dr. Newton ... until Dr. Puffer’s retirement at the end of 2018. Upon assuming the role of ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton Lakes , ... mock evacuation of the facility as part of a disaster drill on October 3rd. ... EMS and Shelton City Emergency Manager, as well as the Connecticut Long Term ...
(Date:10/13/2017)... ... October 13, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at ... of the most popular and least understood books in the Holy Scriptures, Revelation. The ... that have baffled scholars for centuries. Many have tossed it off as mere rubbish, ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare Compliance (FHC), an ... showcase a range of technology and learning solutions at the 68th Annual American ... to be held October 14–18, 2017 at the Mandalay Bay Resort in Las ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics ... PhD, FACMI, during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s ... of Morris F. Collen, a pioneer in the field of medical informatics, this prestigious ...
Breaking Medicine News(10 mins):