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Neptune sales up in Q3 despite summer plant shut down

14-Jan-2010

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Canadian-based global krill leader, Neptune Bioressources and Technologies increased turnover 56 percent for the third quarter ended November 30 as revenue rose from $2,411,000 to $3,756,000 compared to Q3 in 2008.

The company recorded losses of $1,039,000 for the quarter and $2,696,000 for the nine-month period, although these figures dropped to $320,000 and $2,234,000 when debenture conversion $2,142,000 gain was considered.

EBITDA for the three and nine-month periods came in at a $440,000 gain and a $1,478,000 loss.

"We are extremely pleased with the way revenues and profitability markers have caught up and surpassed last year figures despite the first quarter shut down and second quarter ramp up following plant capacity increase, we are looking forward to maintained this trend for the future" said Andre Godin, vice president of administration & finance.

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