SAN MARCOS, Calif., May 18 /PRNewswire-FirstCall/ -- Natural Alternatives
International ("NAI"), Inc. (Nasdaq: NAII), a leading formulator and
manufacturer of customized nutritional supplements, announced today it
obtained a new $12.0 million credit facility from Wells Fargo Bank and its
subsidiary, Wells Fargo Equipment Finance. The new facility is comprised of
an $8.0 million working capital line of credit with a 2.5 year term and
$4.0 million in term loans. The new facility replaces an existing
$4.0 million working capital line of credit and $1.8 million term loan at
interest rates that are currently lower than the previous facility.
CFO John Reaves said, "The new credit facility will provide an immediate
$2.2 million increase in our cash position and will increase our borrowing
capacity under the line of credit by an additional $4.4 million. This credit
facility should enhance our ability to execute our long-term growth plans,
implement our business strategies and build upon the momentum we have
established in improving our financial performance."
NAI, headquartered in San Marcos, California, is a leading formulator and
manufacturer of nutritional supplements that provides strategic partnering
services to its customers. Our comprehensive partnership approach offers a
wide range of innovative nutritional products and services to the client
including: scientific research, clinical studies, proprietary ingredients,
customer-specific nutritional product formulation, product testing and
evaluation, marketing management and support, packaging and delivery system
design, regulatory review and international product registration assistance.
For more information about NAI, please see our website at
http://www.nai-online.com.
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934 that are not historical
facts and information. These statements represent our intentions,
expectations and beliefs concerning future events, including, among other
things, expectations and beliefs with respect to the impact of having and
maintaining long-term financing. We wish to caution readers that these
statements involve risks and uncertainties that could cause actual results and
outcomes for future periods to differ materially from any forward-looking
statement or views expressed herein. The forward-looking statements contained
herein are further qualified by other risks including those set forth from
time to time in the documents filed by us with the Securities and Exchange
Commission, including our most recent Annual Report on Form 10-K and Quarterly
Report on Form 10-Q.
For further information please contact John R. Reaves, Chief Financial
Officer of Natural Alternatives International, Inc., +1-760-744-7340,
info@nai-online.com.
SOURCE Natural Alternatives International, Inc.
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Related links:
http://www.nai-online.com
CONTACT:
John R. Reaves, Chief Financial Officer of
Natural Alternatives International, Inc., +1-760-744-7340,
info@nai-online.com
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