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news.Ranaz Corporation, a manufacturer and marketer of protein and dietary supplements, has reported sales of $4.2m for the first quarter of fiscal 2010 compared to $4.3m in the same quarter last year.
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The sales for Protidiet increased compared to the same quarter of 2009 due to the higher demand for Ranaz’s products in US. The sales for ProtiLife decreased, compared to the same quarter of 2009 due to delay in order from customers.
Gross profit totalled $1.2m for the three-month period ended March 31, 2010 as compared to $1.1m for the same quarter of 2009, and represented 28.6% and 25.7% of sales respectively for these quarters (gross margin).
The net loss for the quarter amounted to $444,110 or $0.007 per share, an increase of 133.4% compared to $190,246 or $0.004 per share for the same quarter prior year. The increase of net loss was mainly due to the product recall compensation revenue of $320,000 in 2009.
Ranaz designs, develops and markets nutritional, protein and dietary supplements under its own corporate brands and concepts, such as Protidiet and ProtiLife, as well as under private labels.