ALRG 1.17:
(BSNS WIRE) Allergy Research Group, Inc. Reports Record Profits For 2003
Allergy Research Group, Inc. Reports Record Profits For 2003
Business Editors
HAYWARD, Calif.--(BUSINESS WIRE)--ALRG--
Allergy Research Group, Inc. (OTCBB:ALRG) today
announced financial results for the year ending December 31, 2003.
ALRG announces record earnings of $1,643,770 for the year ended
December 31, 2003, an increase of 64.73% compared to $997,862 for the
same period ending December 31, 2002. Revenues reached $13,652,856 for
the year, up 8% from 2002. The increase of $968,443 is primarily due
to effective marketing efforts, the introduction of new products and
the continued growth in sales of existing products.
"The quality of our hypoallergenic nutritional supplements and the
successful launch of new products provides the impetus to maintain our
current level of growth," said Chief Executive Officer and Chairman,
Dr. Stephen A. Levine, Ph.D., who has implemented a strategy that
includes a new and comprehensive management team, tighter cost
controls, and the further development of the sales and marketing
approach.
Cost of sales increased $236,163 to $7,823,958 for the year ended
December 31, 2003, compared to $7,587,795 for the year ended December
31, 2002, a corresponding increase resulting from the increase in
sales. Gross profit margins increased approximately 2.5%, to 42.7% for
the year 2003.
Complete copies of the company's financial statements, including
notes to the financials, can be found on its website at
www.nutricology.com.
About Allergy Research Group, Inc.
Allergy Research Group, Inc. is an innovative leader in
nutraceutical research and product formulation. Since its inception in
1979, the company has been noted for quality, hypoallergenic
nutritional supplements and supplies products to physicians and
healthcare practitioners worldwide.
Except for historical information contained herein, this release
contains, within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995, forward-looking
statements that are based on management's beliefs and assumptions,
current expectations, estimates and projections. Many of the factors
that will determine the Company's financial results are beyond the
ability of the Company to control or predict. These statements are
subject to risks and uncertainties and therefore actual results may
differ materially. The Company disclaims any obligation to update any
forward-looking statements whether as a result of new information,
future events, or otherwise. Important factors and risks that may
affect future results include but are not limited to: the impact of
competitive products, changes in law and regulations, adequacy and
availability of insurance coverage, availability of raw materials,
dependence on distributors and customers, litigation, limitations on
future financing, the effect of adverse publicity, uncertainties
relating to acquisitions, managing and maintaining growth, customer
demands, as well as other risks and uncertainties that are described
from time to time in the Company's filings with the Securities and
Exchange Commission, copies of which are available upon request from
the Company's investor relations department.
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: MEDICAL PHARMACEUTICAL MEDICAL SPORTS EARNINGS
SOURCE: Allergy Research Group, Inc.
CONTACT INFORMATION:
Allergy Research Group, Inc.
Clinton Abbott, 888-607-5399
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