LAVAL, QC, Sept. 28 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc. (NASDAQ.NEPT - TSX.V.NTB), is pleased to report its financial results for
the fiscal year ended May 31, 2007. During the last fiscal year, Neptune
improved its productivity and operational profitability while continuing its
business development strategy to penetrate the American, European and Asian
markets, resulting in sustainable sales growth.
Financial Results and Highlights:
- Sales increased by 18% to $8,126,000 from $6,912,000 in the preceding
- EBITDA increased by 43% to $1,504,000 from $1,049,000 in the preceding
fiscal year, representing a third consecutive year with a positive
- EBITDA margin reached 18.5%, compared to 15.2% in the preceding fiscal
- Excluding stock-based compensation expenses, Neptune would have
realized earnings of $152,000 instead of a loss of $2,677,000 in the
fiscal year ended May 31, 2007. Excluding stock-based compensation
expenses and an extraordinary gain from the settlement of debentures,
Neptune would have realized a loss of $1,574,000 instead of a loss of
$886,000 in the fiscal year ended May 31, 2006.
"We believe that the evaluation model and accounting method for
stock-based compensation expenses are not appropriate for small capitalization
fast growing companies. They do not bring the accounting value of stock-based
compensation closer to the market value, as they should and as they were
implemented for", stated Xavier Harland, Director of Finance.
"Neptune has managed to increase its EBITDA by $455,000 with a $1.2M
increase in sales, confirming its improvement in operational efficiency",
stated André Godin, Vice-President, Administration and Finance.
Neptune continues to strongly support its strategic development plan to
pursue partnerships/strategic alliances with worldwide leaders in the
nutraceutical and pharmaceutical industries. In accordance with its plan,
Neptune has signed agreements with Nestlé and Yoplait, paving the way for its
entrance into the global functional food market. Neptune is in negotiations
with pharmaceutical companies with the short-term objective of penetrating the
About Neptune Technologies & Bioressources Inc.
Neptune Technologies & Bioressources Inc. develops proprietary and potent
health ingredients from underexploited marine biomasses, such as krill, with
its patented extraction process (Neptune OceanExtract(TM)). Using its
proprietary process, Neptune Technologies & Bioressources Inc. is
strategically positioning itself in the health and wellness market.
Natural biomass extraction is now playing an important role in developing
nutrigenomics, the next wave in nutritional research. Through strategic
alliances and partnerships, as well as through clinical studies, the Company
continues to demonstrate the immense beneficial effects of these products. The
Company develops and markets new formulas and new products for specific
applications in high growth markets such as the nutraceutical, cosmeceutical,
biopharmaceutical and nutrigenomics markets.
TSX venture exchange does not accept responsibility for the adequacy or
accuracy of this press release.
Statements in this press release that are not statements of historical or
current fact constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties, and other unknown
factors that could cause the actual results of the Company to be materially
different from historical results or from any future results expressed or
implied by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged to
consider statements labeled with the terms "believes," "belief," "expects,"
"intends," "anticipates," "will," or "plans" to be uncertain and
forward-looking. The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are described from
time to time in the Company's reports filed with the Securities and Exchange
For further information:
For further information: US Contact: John Tsemberides, ROI Group LLC,
(212) 495-0743, email@example.com; Company Contact: André Godin, V.-P.,
Administration and Finance, Neptune Technologies & Bioressources, Inc.,
agodin@neptunebiotech..com, www.neptunebiotech.com; Canada Contact: Grant
Howard, The Howard Group Inc., (888) 221-0915, firstname.lastname@example.org