LAVAL, QC, April 30 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc., (TSX Venture Exchange: NTB), "Neptune" announced today its results for
the third quarter ended February 28th, 2007. Also, Neptune is pleased to
announce that it is in the final stages of listing on American Stock Exchange
and that it has received approval of the amendment to its stock option plan.
Financial Results and Highlights:
- Third quarter ended February 28th, 2007:
- Operating revenues increased by 66% to $2,889,000 compared to
$1,745,000 for the third quarter of 2006.
- EBITDA increased by 206% to $719,000 compared to $235,000 during the
third quarter of 2006.
- EBITDA margin increased by 92% from 13% to 25% respectively for the
quarters ending February 28, 2006 and 2007.
- Net loss from continuing operations decreased to $454,000, or $0.013
per share compared to $734,000, or $0.022 per share, before gain on
settlement of debentures during the third financial quarter in 2006.
- Nine months ended February 28th, 2007:
- Operating revenues increased by 34% to $6,388,000 compared to
$4,782,000 for the same period of 2006.
- EBITDA increased by 91% to $1,568,000 compared to $822,000 for the
same period of 2006.
- EBITDA margin increased by 39% from 17% to 25% respectively for the
nine months periods ending February 28th, 2006 and 2007.
- Net loss from continuing operations decreased by 25%, to $1,189,000,
or $0.034 per share, compared to $1,578,000, or $0.045 per share,
before gain on settlement of debentures during the same period in
"We are pleased with the sales growth and improved EBITDA margin we
achieved for the third quarter; during this period we gained significant
traction in our dietary supplement sales while we set the controls to
significantly improve our operational profitability compared to last years."
stated André Godin, Vice-President, Administration and Finance for Neptune
Technologies & Bioressources Inc. "Moreover, we are excited about the growth
we foresee with our potential future strategic partners" added Mr. Godin.
Neptune is also pleased to announce that it has filed an application to
list on the American Stock Exchange (AMEX). "We expect to receive approval
early next fiscal year, starting June 1st 2007. Creating easier access for
U.S. investors to participate in Neptune's success is a natural step in the
Company's evolution considering, among others, that 85% of Neptune's sales are
generated from the United States" stated Xavier Harland, Director Finance for
Neptune Technologies & Bioressources Inc. "This step represents a major
milestone in Neptune's overall expansion strategy since many private and
institutional US investors have shown interest in Neptune's business strategy
and desire to support it." added Mr. Godin.
Stock Option Plan:
Neptune has received the final approval from TSX Venture Exchange for the
amendment to its stock option plan to increase the total number of stock
options available in the plan from 4,350,000 to 6,850,000 as it was decided by
the board of directors of Neptune on April 20th, 2006 and approved by
shareholders at Neptune's last Annual General and Special Meeting on November
24th, 2006. On April 25th, 2007 the Board of Directors agreed to grant as of
May 1st 2007, 925,000 options to directors, officers and employees of which,
525,000 will be vested to board members and top management over a period of
two years. Each of these options will allow its holder to acquire a common
share of Neptune at a price of $7.25 until May 1st, 2010.
About Neptune Technologies & Bioressources Inc.:
Neptune Technologies & Bioressources Inc. develops proprietary and potent
nutritional products from underexploited marine biomasses, such as krill, with
its patented extraction process (Neptune OceanExtract(TM)). Using an exclusive
process, Neptune Technologies & Bioressources Inc. is well positioned in the
$182 billion global nutrition market (Nutrition Business Journal, Oct/Nov
2004) of health and wellness concepts.
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.
For further information:
For further information: The Howard Group Inc.: Grant Howard or David
Gordon, Toll Free: 1-888-221-0915, email@example.com,
www.howardgroupinc.com; Corporate Contact: Neptune Technologies &
Bioressources Inc.: André Godin, Vice-President, Administration and Finance,