Nutrition 21 loss narrows
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- September
- 9
Purchase-based Nutrition 21 Inc., which markets nutritional supplements, lost $900,000, or a penny a share, during the fourth quarter of its fiscal 2008, the company said this morning.
That was an improvement over the fourth quarter of 2007, when the company lost $8.2 million, or 13 cents a share.
Revenues rose 2 percent to $11 million from $10.8 million.
Earnings before interest, taxes, depreciation and amortization — considered a good measure of a company’s underlying strength — were $800,0000. It was the first time the company had a positive number in more than three years.
Michael Zeher, the company’s president and chief executive, said in a statement released by the company: “The dramatic improvement in the operating results for the quarter reflects the considerable traction that is ongoing in the execution of our new business plan.â€
He said the company has re-branded its products under the Iceland Health name, which has saved on promotional expenses.
This entry was posted
on Tuesday, September 9th, 2008 at 9:32 am by Allan Drury.
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Category: Earnings
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