Naturade Inc. Reports 2nd Quarter Results; Sales Rise 32% Over 1999 Period
IRVINE, Calif.--(BUSINESS WIRE)--July 28, 2000--Naturade Inc.
(OTCBB:NRDC), a leading marketer of soy protein and aloe vera
products, today reported net sales of $3,672,249 for the second
quarter ended June 30, 2000, a 32% increase over the $2,781,116
recorded for the first quarter of 1999.
At the same time, the company incurred a second quarter net loss
of $494,381, or ($0.07) per share, compared to a net loss of
$1,175,094, or ($0.22) per share, reported during the same period of
1999.
According to Naturade CEO Bill Stewart: "The sales increase and
the reduction in our losses for the second quarter mirrored the
improvement we made during the first quarter of 2000 and are
indicative of the continued progress we are making. Our successful
strategy to penetrate the Mass Market stores continues on track.
Additionally, again this quarter, our sales in health food stores were
up.
"It also is noteworthy that Naturade's numbers for the second
quarter are significant because they exclude shipments to the CVS drug
store chain amounting to $715,300 through June 30. These shipments are
not included in our second quarter financial results," explained
Stewart. "These shipments will not be recognized as sales until they
sell through to the CVS retail consumer."
In the quarter just ended, Naturade's Mass Market distribution
reached 18,000 stores, representing a 20% increase over the 15,000
stores on record at the end of March and an 80% increase over the
10,000 stores at the end of December 1999.
During the quarter, Naturade held the No. 1 share in
Food/Drug/Mass Market accounts, responsible for 46% of soy protein
volume among the three major category entries. Naturade Total Soy(TM)
(chocolate), the company's cornerstone brand, was the No. 1 selling
soy protein product.
With headquarters in Irvine, Naturade -- since 1926 -- has been
committed to marketing innovative natural products that actively
nourish and improve the health and well-being of consumers.
The company's brands include Naturade Total Soy(TM),
Ribo-tein(TM), Naturade Organic Soy(TM), Naturade NRG(TM), Naturade
Veg(TM), Naturade 100% Soy(TM), Aloe Vera 80(R) standardized beauty
care products, THE CHINESE WAY(TM) herbs and Kids' PLEX(R) nutritional
products for children.
More information is available by visiting the Naturade Web site at
www.naturade.com or by calling toll-free 877/4-SOY-NEWS. |
