EDMONTON, AB, April 19 /CNW/ - Ceapro Inc. (CZO - TSX Venture) is pleased
to report the highest revenue in its 12-year history for fiscal year ended
December 31, 2006. Gross margin remained very high at 57% of sales.
"We are delighted with the strong sales growth of our active ingredients
and are actively expanding markets in 2007. The Company is accessing global
markets through solid distribution partnerships. We should also see some
technological breakthroughs, and collaborations for high-value therapeutic
products during 2007," said Dr. Mark Redmond, President and CEO.
2006 Financial Results Highlights and Outlook
- Increased sales by 35% to a record $3,310,000 compared to $2,763,000
in the previous year; the Company forecasts revenues of more than
$5 million for 2007.
- Gross margin was maintained at 57%, compared to a gross margin of 58%
in the previous year.
- The Company was profitable operationally before research and
development expenses and expects to reach profitability in 2007.
- Net loss was $272,357 or $0.01 per share compared with a net loss of
$57,007 or $0.00 per share; during 2006, the Company received less
external funding and it increased marketing expenses, delivering
sales and an increasing book of orders.
- The Company is relocating its manufacturing facility to Leduc,
Alberta; production capacity is expected to double and efficiency
gains should generate continued healthy margins.
Ceapro will benefit from growing revenues based on:
- Proprietary active ingredients used in healthcare cosmeceuticals, and
- Patented technology such as its early identification test,
CeaProve(R), for risk of type 2 diabetes, and
- Products such as its expanding range of veterinary therapeutics,
Further technologies are under development in the fields of therapeutics,
drug-delivery and bio-energy.
The complete audited annual report and financial statements are available
for review on SEDAR at: http://www.sedar.com/Ceapro and on the Company's
About Ceapro Inc.
Ceapro Inc is a Canadian growth-stage biotechnology company. Ceapro's
core technology is the extraction of functional, active ingredients from
plants and other renewable resources. We add further value to our extracts by
manufacturing medical and therapeutic products, and by supporting the use of
our extracts in products for human and animal health. We have also introduced
health and wellness services employing our CeaProve(R) diagnostic technology.
Our most recent initiative is the creation of Ceapro BioEnergy Inc. (CBE), a
wholly-owned subsidiary to utilize Ceapro's proprietary technology for the
production of ethanol and value-added products. Ceapro shares trade on the
Canadian TSX Venture Exchange under the symbol CZO. To learn more about
Ceapro, visit our website at www.ceapro.com.
The TSX-Venture has neither approved nor disapproved of the information
contained herein -
This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this cautionary
For further information:
For further information: Dr. Mark Redmond, President and CEO, Ceapro
Inc., Telephone (Edmonton): (780) 421-4555; Nicole Blanchard, B.Sc., B.Comm.,
Managing Partner, Sun International Communications, Telephone (Montreal):