LAVAL, QC, Oct. 10 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc. ("Neptune") (NASDAQ.NEPT - TSX.V.NTB) today announced financial results
for the fiscal 2009 first quarter ended August 31, 2008.
Total revenue for the three-month period ended August 31, 2008 was
$2,366,000 compared to $2,085,000 for the first quarter ended August 31, 2007,
representing an increase of 13.5%.
The Company substantially decreased its net loss by 43% to $599,000, or
$0.016 per share, for the three-month period ended August 31, 2008, compared
to a net loss of $1,051,000, or $0.029 per share, for the three-month period
ended August 31, 2007. Excluding non-monetary items, stock option based
compensation and amortization, Neptune would have generated a profit of
$344,000 for the three-month period ended August 31, 2008.
Neptune continues to generate positive cash flow during the three months
ended August 31, 2008 and the Company's cash, cash equivalents and short-term
deposits amounted to $2,151,000 on August 31, 2008. In addition, the Company
announced recently that it successfully completed a $2,750,000 debenture
financing to be used to support the achievement of several value-creating
development and commercialization milestones of Acasti Pharma, its
Neptune researches and develops proprietary bioactive ingredients and
products for nutraceutical and pharmaceutical applications and is carrying out
clinical research to show the therapeutic benefits in various medical
indications. The Company patents and protects its innovations and continuously
expands its intellectual property portfolio. Neptune has already obtained many
regulatory approvals allowing commercialization of its products in various
geographic markets and has filed for and is expecting additional approvals.
Neptune continues to strongly support its strategic development plan to form
partnership with worldwide leaders in the nutraceutical industries. Neptune
signed agreements with Nestlé and Yoplait, worldwide leading food
manufacturers, and paved its entrance into the global functional food market.
Neither NASDAQ nor TSX venture exchange accepts 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
U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities
laws. 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 Commission and the Canadian securities commissions.
For further information:
For further information: Toni Rinow, Ph.D., MBA, Corporate Development &
Investor Relations, Neptune Technologies & Bioressources Inc., (450) 687-2262,
firstname.lastname@example.org; www.neptunebiotech.com; SOURCE: Neptune
Technologies & Bioressources Inc.