LAVAL, QC, Oct. 12 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc. (Neptune) (NASDAQ.NEPT - TSX.V.NTB), "Neptune" today announced its
results for the first quarter ended August 31st, 2007.
- First Quarter ended August 31, 2007:
- Sales increased by 34% to $2,085,000 compared to $1,552,000, for
the first quarter of the fiscal year ended May 31st, 2007.
- EBITDA increased by 10% to $332,000 compared to $303,000 for the
first quarter of the fiscal year ended May 31st, 2007.
- Excluding non-monetary stock-based compensation expenses for both
years, Neptune would have realized earnings of $22,000 instead of
a loss of $1,051,000 for the first quarter of the fiscal year
ended May 31st, 2008 compared to earnings of $48,000 instead of a
loss of $286,000 for the same period of last year.
"Neptune continues its worldwide commercialization efforts which
translates into great sales progress which generates sufficient cash flow to
finance our normal business operations growth", stated Mr. André Godin, Vice
President, Administration and Finance.
Neptune continues to strongly support its strategic development plan to
form 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 its entrance in
the global functional food market. According to its business strategy,
negotiations with pharmaceutical companies with the objective of entering into
the pharmaceutical market by licensing rights is an ongoing and top priority
Neptune announces a corporate reorganization following recent progress in
strategic and business development. Dr. Tina Sampalis has been promoted to
Chief Scientific Officer and Thierry Houillon, V.P. Business Development,
Functional Food, will take over all nutraceutical business activities as
V.P. Nutraceutical, since Neptune did not renew the contract of its V.P. Sales
and Marketing, Donald Allard.
Neptune is also pleased to announce that Toni Rinow, Ph.D., MBA, has
joined the team. She will be responsible for Investors Relations and Corporate
Development. "Dr. Rinow, former Senior V.P., Fonds de Solidarité, will be an
important asset to the company because of her experience in the capital
markets, especially with life science companies. We believe that, because of
her knowledge, reputation and networking contacts, Dr. Rinow will be able to
bring market value recognition to Neptune," stated Mr. Henri Harland,
President and Chief Executive Officer.
Neptune would also like to inform its shareholders that since its shares
are listed on NASDAQ, it will be filing its quarterly and annual results
respectively, not more than 45 days and 90 days after the applicable period as
compared to not more than 60 and 120 days previously.
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.
NASDAQ and 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, firstname.lastname@example.org, www.roiny.com; Canada Contact: Grant Howard,
The Howard Group Inc., (888) 221-0915, email@example.com,
www.howardgroupinc.com; Company Contact: André Godin, V-P, Administration and
Finance, Neptune Technologies & Bioressources Inc.,
firstname.lastname@example.org, www.neptunebiotech.com; Source: Neptune
Technologies & Bioressources Inc.