Natural Alternatives International (NAI), the US-based formulator and manufacturer of customised nutritional supplements, has reported net profits of $759,000 (€839,711) for the third quarter of its fiscal year, a considerable improvement on the losses of $234,000 posted in the same period a year earlier.
Revenues for the third quarter of fiscal 2002 increased 24.1 per cent to $12.8 million from $10.3 million in the third quarter of fiscal 2001.
For the first nine months of the year, sales were up 11.2 per cent to $35.4 million. However, net profits dropped to $165,000 from $414,000 a year earlier.
NAI's chief financial officer Randell Weaver said: "We believe the third quarter results are indicative of our improved operating performance and increasing financial stability. During the quarter, we invested substantially in our popular Dr Cherry direct-to-consumer product line as part of an ongoing campaign to improve service and position the brand for future growth."
CEO Mark LeDoux added: "We have successfully addressed a number of challenges this year, and while we have much more to do, we are pleased with results this quarter as well as our overall progress. We feel NAI is uniquely positioned, financially and operationally, to take advantage of numerous opportunities both domestically and internationally."
Weaver added: "We are focused on enhancing shareholder value through increased sales, operational improvements and control of our expenditures. We continue to work toward improving results and are actively seeking profitable growth opportunities. We believe our strong balance sheet will allow us to take advantage of carefully selected growth opportunities in the future."