Nutraceutical sees good rise in profits
almost a fifth during the first quarter, thanks to a rise in sales
and lower selling and administrative expenses.
The company, which makes and distributes branded nutritional supplements and also runs a retail business, reported net sales for the fiscal first quarter of $36.7 million, up 4 per cent on the prior quarter of 2004.
Income from operations reached $5.6 million, growth of 18.9 per cent on the prior quarter, while net profits were up 23 per cent to $3.45 million, reported the firm today.
"For the quarter, we saw improvements in our selling, general and administrative expenses," said Bill Gay, chairman and chief executive officer.
He added that management was "cautiously optimistic about the direction of the natural health food channel".
"During the next 12 months, management will focus on the consolidation, integration and enhancement of our manufacturing and service delivery systems in order to achieve the operational economies we believe are possible."
Nutraceutical's brands include Solaray, Natural Balance and Monarch Nutritional Laboratories as well as retailers The Real Food Company, Thom's Natural Foods and Cornucopia Community Market.