Neptune Technologies & Bioressources, Inc. Announces Consolidated Earnings Results for the Third Quarter and First Nine Months Ended November 30, 2015
January 13, 2016 at 04:05 am IST
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Neptune Technologies & Bioressources, Inc. announced consolidated earnings results for the third quarter and first nine months ended November 30, 2015. For the quarter, the company announced consolidated revenues totaled $5,520,000 up from $4,735,000 for the quarter ended November 30, 2014. Adjusted LBITDA was $2,554,000 versus $4,315,000 in the prior year. Net loss was $2,928,000 for the current quarter, versus net income of $74,000 in the prior year.
For the first nine months, the company announced consolidated revenues totaled $12,602,000 compared to $11,049,000 for the corresponding prior-year period. Adjusted LBITDA was $10,826,000 versus $22,962,000 for the corresponding prior-year period. Net loss was $10,450,000 for the nine-month period ended November 30, 2015, versus a net loss of $19,143,000 in the corresponding prior-year period.
Neptune Wellness Solutions Inc. is a consumer-packaged goods company that is primarily focused on health and wellness products. The Company focuses on developing a portfolio of consumer products that align with the market trends for natural, sustainable, plant-based, and purpose-driven lifestyle brands. Its products are available in more than 29,000 retail locations and include organic food and beverage brands, such as Sprout Organics, Nosh, and Nurturme, as well as nutraceuticals brands like Biodroga and Forest Remedies. Its main brand units are nutraceuticals and organic foods and beverages. The Company sells its nutraceutical products mainly in bulk soft gels or liquids to multiple distributors and customers, who commercialize these products under their private label. The Company, through its Sprout subsidiary, sells its organic foods and beverages products to mass retailers, grocery stores and other retail outlets, as well as online through e-commerce sites and its own Website.