WINCHESTER, ON, April 29 /CNW Telbec/ - Natunola Health Biosciences Inc. (TSX-V:NHI) ("Natunola") reports that the sales for the year ending December 31, 2009 were $1,257,811, a decline of 35.9% or $703,590 for the twelve months ended December 31, 2009 versus the comparative period for 2008. The decline is due to lower sales for the Company's flax product lines to a specific customer for the twelve months ended December 31, 2009 versus the comparative period for 2008. The sales for the Company's flax product lines decreased by 60.5% or $983,973 for the twelve months ended December 31, 2009 versus the comparative period for 2008 (December 31, 2009 - $641,102; December 31, 2008 - $1,625,075). As a result, the Company recorded a net loss of -$394,483 or -$0.03 per share the period ended December 31, 2009 versus a loss of -$266,010 or -$0.02 per share for the comparative period for 2008.
The sales for the Company's personal care product lines increased by 90.7% or $281,988 for the twelve months ended December 31, 2009 versus the comparative period for 2008 (December 31, 2009 - $592,869; December 31, 2008 - $310,881). This increase is due to the Company's personal care products being newly used by one of world top 10 cosmetic and personal care companies.
Cost of sales decreased by 41.2% for the year ended December 31, 2009 versus the comparative period for 2008. The decrease is due to lower sales for the year ended December 31, 2009 versus the comparative period for 2008. Gross margins increased by 4.3%.
General expenses were 95.5% of the sales for the twelve months ended December 31, 2009 versus 65.4% for the same period for 2008. This percentage increase is due to the lower sales and a 2009 foreign exchange loss of $36,639 versus a foreign exchange gain of $87,344 for 2008.
Building on its strength of research and manufacturing capabilities, Natunola ventures into value added processing of maple syrup to develop a low glycemic index maple product. Natunola is collaborating with the National Research Council of Canada and the University of Guelph Kemptville Campus Agroforestry Education and Research Center on this new product development.
Natunola's vision is to develop and commercialize healthy low glycemic index maple products for the diabetic, nutraceutical and health market. Increased consumption of carbohydrates has led to various health problems, such as obesity and related cardiovascular and diabetic diseases. In order to limit the use of carbohydrates, various artificial sweeteners have been used as substitutes, particularly, for sucrose in the food industry.
The current trends in obesity will certainly increase the number of the diabetic population worldwide. There are approximately 2.2 million Canadians with diabetes who have to avoid foods with a high glycemic index, including maple syrup. Thus, a new source of natural sweetener such as isomaltulose will let the diabetic consumers and consumers in general that require control of their sugar intake enjoy their daily meal and life. Maple products with a low glycemic index (GI (less than) 56) which contain isomaltulose and that can be produced directly or indirectly from the existing maple sap or maple syrup will have great market potential. Also, by integrating this type of new product with the Company existing brand of omega-3 flax products should create more opportunities for the Company in years to come. Ultimately, consumers will benefit by having low glycemic index maple products and or high omega-3 flax products that are healthy, and taste good.
Some of the statements contained in the release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
SOURCE Natunola Health Biosciences Inc.
For further information: For further information: Dr. Murray McLaughlin, Chairman, Natunola Health Biosciences Inc., 661, St Lawrence Street, Winchester, Ontario, K0C 2K0, Tel (613) 774-0008