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The second quarter net sales from continuing operations represented a
decrease of
The net loss from continuing operations in the second quarter of fiscal
2009 was
As of
Chairman and Chief Executive Officer
NAI also reported today that it had recently received recertification of
its Swissmedic Authority pharmaceutical license for its Manno,
NAI, headquartered in
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934 that are not historical
facts and information. These statements represent our intentions, expectations
and beliefs concerning future events, including, among other things, our
expectations and beliefs with respect to our future financial and operating
results, including the amount of our future revenue and profits and our future
financial condition, and our ability to reduce operating costs, expand our
contract manufacturing business, and develop, maintain or increase sales to
new and existing customers, as well as future economic conditions and the
impact of such conditions on our business. We wish to caution readers these
statements involve risks and uncertainties that could cause actual results and
outcomes for future periods to differ materially from any forward-looking
statement or views expressed herein. NAI's financial performance and the
forward-looking statements contained herein are further qualified by other
risks including those set forth from time to time in the documents filed by us
with the
CONTACT -
Web site: http://www.nai-online.com
NATURAL ALTERNATIVES INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
(In thousands, except per share data)
(Unaudited)
Three Months Ended
December 31,
------------
2008 2007
------- ------
NET SALES $17,616 100.0% $18,402 100.0%
Cost of goods sold 16,844 95.6% 15,226 82.7%
------- ----- ------ -----
Gross profit 772 4.4% 3,176 17.3%
Selling, general & administrative
expenses 2,838 16.1% 3,075 16.7%
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OPERATING (LOSS) INCOME FROM
CONTINUING OPERATIONS (2,066) -11.7% 101 0.5%
Other expense, net (120) -0.7% (8) 0.0%
------- ----- ------ -----
(LOSS) INCOME FROM CONTINUING
OPERATIONS BEFORE TAXES (2,186) -12.4% 93 0.5%
Provision (Benefit) for income taxes 362 (49)
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(LOSS) INCOME FROM CONTINUING
OPERATIONS (2,548) -14.5% 142 0.8%
LOSS FROM DISCONTINUED OPERATIONS,
NET OF TAX (756) -4.3% (322) -1.7%
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NET (LOSS) INCOME $(3,304) $(180)
======= =====
NET (LOSS) INCOME PER COMMON SHARE:
Basic:
Continuing Operations ($0.36) $0.02
Discontinued Operations ($0.11) ($0.05)
------- ------
Net (Loss) Income ($0.47) ($0.03)
======= ======
Diluted:
Continuing Operations ($0.36) $0.02
Discontinued Operations ($0.11) ($0.05)
------- ------
Net (Loss) Income ($0.47) ($0.03)
======= ======
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING:
Basic 7,058 6,980
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Diluted 7,058 7,067
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Six Months Ended
December 31,
------------
2008 2007
------- ------
NET SALES $37,142 100.0% $41,287 100.0%
Cost of goods sold 33,970 91.5% 34,171 82.8%
------- ----- ------ -----
Gross profit 3,172 8.5% 7,116 17.2%
Selling, general & administrative
expenses 5,456 14.7% 5,967 14.5%
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OPERATING (LOSS) INCOME FROM
CONTINUING OPERATIONS (2,284) -6.1% 1,149 2.8%
Other expense, net (433) -1.2% (19) 0.0%
------- ----- ------ -----
(LOSS) INCOME FROM CONTINUING
OPERATIONS BEFORE TAXES (2,717) -7.3% 1,130 2.7%
Provision for income taxes 180 237
------- ------
(LOSS) INCOME FROM CONTINUING
OPERATIONS (2,897) -7.8% 893 2.2%
LOSS FROM DISCONTINUED OPERATIONS,
NET OF TAX (1,804) -4.9% (650) -1.6%
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NET (LOSS) INCOME $(4,701) $243
======= ======
NET (LOSS) INCOME PER COMMON SHARE:
Basic:
Continuing Operations ($0.41) $0.13
Discontinued Operations ($0.26) ($0.09)
======= ======
Net (Loss) Income ($0.67) $0.03
======= ======
Diluted:
Continuing Operations ($0.41) $0.12
Discontinued Operations ($0.26) ($0.09)
======= ======
Net (Loss) Income ($0.67) $0.03
======= ======
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING:
Basic 7,045 6,947
======= ======
Diluted 7,045 7,044
======= ======
NATURAL ALTERNATIVES INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
December 31, June 30,
2008 2008
------- -------
ASSETS
Cash and cash equivalents $3,337 $3,518
Certificate of deposit $699 -
Accounts receivable, net 4,638 6,401
Inventories, net 13,613 14,135
Income tax receivable 1,270 1,354
Current Assets of discontinued operations 3,316 6,299
Other current assets 974 1,223
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Total current assets 27,847 32,930
Property and equipment, net 14,039 12,823
Other noncurrent assets, net 159 160
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Total Assets $42,045 $45,913
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LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued liabilities $8,787 $10,034
Line of credit 3,538 -
Current portion of long-term debt 1,994 2,730
Current liabilities of discontinued operations 833 1,724
Deferred income taxes - 61
Deferred rent 1,114 1,164
Long-term pension liability 223 198
------- -------
Total Liabilities 16,489 15,911
------- -------
Stockholders' Equity 25,556 30,002
------- -------
Total Liabilities and Stockholders' Equity $42,045 $45,913
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SOURCE
CONTACT:
Web Site: http://www.nai-online.com