CARLSBAD, Calif., Nov. 7, 2016 /PRNewswire/ -- Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced net income of $2.5 million, or $0.37 per diluted share, on net sales of $34.1 million for the quarter ended September 30, 2016.

Net sales during the three months ended September 30, 2016 increased $12.5 million, or 57.8%, from $21.6 million recorded in the comparable prior year period.  For the quarter ended September 30, 2016, private label contract manufacturing sales increased $11.1 million, or 68.3%, from the comparable quarter last year.  Our first quarter fiscal 2017 contract manufacturing sales were favorably impacted due to timing and shipment of orders and new product launches. On an annualized basis we expect our fiscal 2017 revenue growth percentage to be approximately 20% to 30%. CarnoSyn® beta-alanine royalty, licensing and raw material sales revenue increased 25.7% to $6.7 million during the first quarter of fiscal 2017 as compared to $5.3 million for the first quarter of fiscal 2016.  The increase in CarnoSyn® beta-alanine revenue was primarily due to the addition of new customers and increased material shipments to existing customers. 

Net income for our first quarter of fiscal 2017 was $2.5 million, or $0.37 per diluted share, compared to net income of $1.2 million, or $0.18 per diluted share, in the first quarter of fiscal 2016. This increase was primarily attributable to increased sales and improved operational throughput with lower per unit manufacturing costs related to our private label contract manufacturing segment and increased product margin from CarnoSyn® beta-alanine sales due to increased sales and lower supply chain costs, partially offset by increased legal costs associated with our efforts to enforce compliance with our patents related to instant release CarnoSyn® and to protect our trade name in the market place against parties who are using it without our consent.

As of September 30, 2016, NAI had cash of $17.8 million and working capital of $37.8 million compared to $19.7 million and $36.7 million, respectively, as of June 30, 2016.  As of September 30, 2016, we had $10.5 million available under our line of credit agreements.

Mark A. Le Doux, Chairman and Chief Executive Officer stated, "Our first fiscal quarter was outstanding on a year over year comparative basis, both revenues and profits soared for the period.

"Now that we have concluded much of our capacity enhancements in both California and Switzerland, we are focused on expanding our sales partnerships throughout the world.  We look forward to continued growth as strategic sales initiatives, new product introductions, and new product registrations allow."

NAI, headquartered in Carlsbad, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to our clients including: scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review and international product registration assistance. For more information about NAI, please see our website at http://www.nai-online.com.

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 future revenue profits and financial condition, our ability to maintain our patents, generate revenues from the commercialization of our patents and trademarks, secure compliance with our intellectual property rights, 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 Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.

CONTACT – Michael Fortin, Chief Financial Officer, Natural Alternatives International, Inc., at 760-736-7700 or investor@nai-online.com.

Web site: http://www.nai-online.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/natural-alternatives-international-inc-announces-fiscal-2017-q1-results-300358585.html

SOURCE Natural Alternatives International, Inc.