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Nutrition 21

This article was originally published in The Tan Sheet

Executive Summary

Firm's total revenues for the first fiscal quarter of 2006 (ended Sept. 30) increased 31% to $3.6 mil., Purchase, N.Y.-company announces Nov. 1. The chromium picolinate marketer also saw gross profit increase to $3 mil., 41% higher than gross profit in the first quarter of 2005. An August announcement by FDA that chromium picolinate is safe for use in those with type 2 diabetes "should help contribute to increased sales and improved gross margins as we move forward," Nutrition 21 maintains. Separately, the firm's CEO Gail Montgomery resigned Nov. 4. She had held her posts as President, CEO and a director since September 2000. CFO Paul Intlekofer has been named COO and will be considered a candidate for the CEO post as well, the firm adds...

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