- 17% increase in sales for fiscal 2006
- Significant reduction in the net loss for the year, from
$1.4 million in 2005 to $317,400 in 2006
- Loss per share of $0.017 and $0.015 for the fourth quarter and
fiscal 2006 respectively, compared to $0.059 and $0.075 for the same
periods in 2005
MONTREAL, April 12 /CNW Telbec/ - Ranaz Corporation (TSXV: RNZ) ("Ranaz"
or the "Corporation"), a company specializing in the manufacturing and
marketing of protein and dietary supplements for weight loss and obesity
treatment, released its results today for the fourth quarter and year ended
December 31, 2006.
"I am delighted that Ranaz had another year of growth and development.
The high point of the year was our initial public offering at the end of 2006,
which provided us with the funds required to enter the mass market. During the
year, we continued to improve our established weight loss product line, and we
are now ready to launch a new lifestyle product that will play a precursor
role in the battle against the global excess weight and obesity", declared
Jean Bourassa-Marineau, President and founder of Ranaz.
Highlights - 2006
- Closing of the Corporation's initial public offering for $4 million.
For more details, please see the final prospectus dated
November 28, 2006, which can be found on the SEDAR website at
- Share issue in April 2006 for an amount of $1 million
- Development of the new ProtiLife line of weight loss products
- Signature of distribution agreements with various Canadian drugstore
chains allowing for the sale of the new ProtiLife product line in over
4,000 outlets in Canada before year-end 2007
- Private placement for gross proceeds of $510,000
- Appointment of Daniel J. Sawaya as Chief Strategy Officer and Advisor
to the President, and Jean Beaudoin as Vice President, Manufacturing
In the fourth quarter of 2006, Ranaz generated revenues of $2.1 million,
slightly more than in the last quarter of 2005. For fiscal 2006, the Company
recorded sales of $9.6 million, up more than 17% from $8.1 million for the
same period in 2005. This growth was mainly due to higher sales of Protidiet
products in North America. However, the sales increase for 2006 was
counteracted by slowing sales in Europe, related primarily to problems
encountered by the logistics firm hired by Ranaz to distribute Protidiet
products in France and Belgium. A logistics agreement with a new partner,
Eurodep, was signed in May 2006 to remedy the situation. Sales in the United
States and Europe were also negatively affected by the rise in the Canadian
dollar against the US currency and the Euro.
The Company reported a net loss of $341,500 for the fourth quarter of
2006 compared to a net loss of $1,085,500 for the same quarter in 2005. The
net loss for fiscal 2006 amounted to $317,400 compared to $1,388,000 for 2005.
More detailed information, including the audited annual financial
statements and notes thereto, can be found on the Internet at www.sedar.com.
On December 29, 2006, Ranaz marked the beginning of a new phase with the
closing of its initial public offering for gross proceeds of $4 million. These
funds will be used for several projects, particularly the launch of ProtiLife,
an innovative range of protein-rich, low-calorie nutritional supplements that
will introduce the Company to the mass market and inaugurate a new market
segment in North America. Once ProtiLife is launched, Ranaz will build a much
larger research and production facility that will be operational by the end of
2007. All these development efforts will unquestionably have a positive effect
on the Company's revenues and profit margins.
About Ranaz Corporation
Ranaz is a corporation specializing in manufacturing and marketing
protein and dietary supplements for weight loss and obesity treatment. Its
mission is to design, develop and market nutritional, protein and dietary
supplements under private brands, as well as under its own corporate brands
and concepts, such as Protidiet and ProtiLife. Through its subsidiaries, Ranaz
produces high-quality dietary and protein supplements. Ranaz shares have
traded under the symbol RNZ on the TSX Venture Exchange since December 29,
Certain statements contained in this news release, other than statements
of fact that are independently verifiable at the date hereof, may constitute
forward-looking statements. Such statements, based as they are on the current
expectations of management, inherently involve numerous risks and
uncertainties, known and unknown, many of which are beyond Ranaz's control.
Such risks include but are not limited to: the impact of general economic
conditions, changes in the regulatory environment in the jurisdictions in
which Ranaz does business, stock markets volatility, fluctuations in costs,
and changes to the competitive environment due to consolidation, as well as
other risks disclosed in public filings of Ranaz. Consequently, actual future
results may differ materially from the anticipated results expressed in the
forward-looking statements. The reader should not place undue reliance, if
any, on the forward-looking statements included in this news release. These
statements speak only as of the date made and Ranaz is under no obligation and
disavows any intention to update or revise such statements as a result of any
event, circumstances or otherwise.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Martin Vidal, Executive Vice President, Ranaz
Corporation, (450) 491-7106, Ext. 213, email@example.com; Jean
Walter, Vice President, MaisonBrison, (514) 731-0000, Ext. 223,