Natural Alternatives International
This article was originally published in The Tan Sheet
Executive Summary
Sales decline 30.8% in the fiscal third quarter to $13.1 mil. from $19 mil. last year. The company reports a net loss for the quarter of $4.3 mil. San Marcos, Calif.-based NAI incurred charges of $6.6 mil. during the quarter relating to the firm's decision not to occupy its new Carlsbad, Calif. facility, inventory write-down and severance expenses. NAI will sublease the Carlsbad plant and focus production in its San Marcos and Vista, Calif. facilities. NAI points to the "reduction in market demand for several herbal products" that caused the firm to "write down the value of our inventories." NAI previously announced the opening of a plant in Lugano, Switzerland ("The Tan Sheet" Feb. 15, p. 7)