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news.Nutrition 21, a developer and marketer of clinically substantiated nutritional ingredients for dietary supplements, has reported revenues of $1.62m for the first quarter ended 30 September 2010 compared to $2.31m for the comparable period in 2009.
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Nutrition 21 has posted a net loss of $898,000 for the first quarter 2010, or $0.01 loss per diluted share, compared to net loss of $643,000, or $0.01 loss per diluted share, for the comparable period in 2009.
The company’s operating income was $24,000, compared to $330,000 for the comparable period in 2009.
Nutrition 21 president and CEO Michael Zeher said that they were pleased that their operating income from continuing operations has been positive since the divestiture of the Branded Products Group in the second quarter of 2010, and that they continue to deliver positive EBITDA (Earnings before interest, taxes, depreciation and amortisation).
"In short, we think that the refocusing of our energies on our core ingredients business is working according to plan," Zeher said.
"We look forward to developing new business opportunities as we continue to work on achieving consistent profit and revenue growth."