Neptune Technologies & Bioresources, Inc. Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 30, 2012
January 15, 2013 at 01:01 pm
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Neptune Technologies & Bioresources, Inc. reported consolidated earnings results for the third quarter and nine months ended November 30, 2012. For the quarter, the company reported revenues increased by 37% to $7,027,000, up from $5,120,000 achieved during the corresponding period ended November 30, 2011. Adjusted consolidated LBITDA was $629,000, compared to $743,000 obtained during the corresponding period ended November 30, 2011. Net loss was $12,437,000 compared to $1,433,000 for the corresponding period ended November 30, 2011.
For the nine months, the company reported revenues increased by 55% to $21,273,000, up from $13,756,000 achieved during the corresponding period ended November 30, 2011. Adjusted consolidated LBITDA increased by 35% to $1,190,000, up from $1,818,000 obtained during the corresponding period ended November 30, 2011. Net loss reached $18,815,000, compared to a net loss of $4,459,000 for the corresponding period ended November 30, 2011.
Neptune Wellness Solutions Inc. is a consumer-packaged goods company that is primarily focused on health and wellness products. The Company focuses on developing a portfolio of consumer products that align with the market trends for natural, sustainable, plant-based, and purpose-driven lifestyle brands. Its products are available in more than 29,000 retail locations and include organic food and beverage brands, such as Sprout Organics, Nosh, and Nurturme, as well as nutraceuticals brands like Biodroga and Forest Remedies. Its main brand units are nutraceuticals and organic foods and beverages. The Company sells its nutraceutical products mainly in bulk soft gels or liquids to multiple distributors and customers, who commercialize these products under their private label. The Company, through its Sprout subsidiary, sells its organic foods and beverages products to mass retailers, grocery stores and other retail outlets, as well as online through e-commerce sites and its own Website.