SAN MARCOS, Calif., Aug. 5 /PRNewswire-FirstCall/ -- Natural
Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading
formulator, manufacturer and marketer of customized nutritional
supplements, today announced that it has sold the "As We Change(R)" catalog
and internet business of Real Health Laboratories, Inc., its wholly owned
subsidiary, for $2.0 million subject to certain adjustments.
NAI also announced that total revenues, including revenues from the "As
We Change" business, for the fourth quarter of its fiscal year ended June
30, 2008 were approximately $25.2 million, an increase of $3.3 million or
15.1% from $21.9 million for the third quarter ended March 31, 2008 and an
increase of $1.1 million or 4.6% from $24.1 million for the fourth quarter
of the fiscal year ended June 30, 2007.
Private label contract manufacturing revenues were approximately $20.7
million in the fourth quarter of fiscal 2008 compared to $18.0 million in
the third quarter of fiscal 2008, an increase of $2.7 million or 15.0%.
Compared to the fourth quarter of fiscal 2007 private label contract
manufacturing revenues increased by approximately $600,000 or 3.0% from
$20.1 million.
President Randell Weaver stated, "We are pleased to complete the sale
of our "As We Change" catalog and internet business for $2.0 million in
cash. The sale of this business should allow us to better maintain focus on
our core business, private label contract manufacturing, and will provide
liquidity that should allow us to make additional investments in our core
business while maintaining our strong balance sheet. We have taken steps to
significantly reduce operating expenses in our private label contract
manufacturing business as well as our remaining branded products
businesses, "Real Health Laboratories" and "Dr. Cherry Pathway to
Healing(R)."
Chairman and Chief Executive Officer Mark LeDoux added, "We are
extremely pleased with the growth in our fourth quarter revenues,
particularly the contract manufacturing revenues. We believe our commitment
to Good Manufacturing Practices has paid dividends as we have seen revenues
from new customers grow. We are also pleased we have been able to attract
top tier customers and potential customers who recognize the value in our
state of the art facilities and our commitment to quality manufacturing."
NAI, headquartered in San Marcos, California, is a leading formulator,
manufacturer and marketer of nutritional supplements and provides strategic
partnering services to its customers. Our comprehensive partnership
approach offers a wide range of innovative nutritional products and
services to our clients 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, our expectations and beliefs with respect to future
financial and operating results, including the amount of our future revenue
and profits and our future financial condition, our ability to implement
our strategic plans, to expand and invest in our core business, to reduce
operating expenses, and to develop, maintain or increase sales to new and
existing customers. We wish to caution readers 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. NAI's financial performance and 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.
CONTACT -- Randell Weaver, President,
Natural Alternatives International, Inc.,
760-736-7700 or investor@nai-online.com.
SOURCE Natural Alternatives International, Inc.
 back to top
Related links:
http://www.nai-online.com
CONTACT:
Randell Weaver, President of Natural
Alternatives International, Inc., +1-760-736-7700,
investor@nai-online.com
|
