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Martek revenues grow

This article was originally published in The Tan Sheet

Executive Summary

Martek Biosciences' fiscal 2008 fourth-quarter revenues grew 10 percent to $90.4 million based in part on the strength of its international infant formula market growth and launches of products containing its life'sDHA, the Columbia, Md.-based firm announces Dec. 11. The firm's infant formula market grew 7 percent in the quarter ending Oct. 31 as Martek signed deals including an arrangement to supply the Swiss firm Hero Group with docosahexaenoic and arachidonic fatty acids for use in infant formula (1"The Tan Sheet" Oct. 6, 2008, In Brief). Despite increased revenues, net income is down to $10.5 million compared to $18.3 million in the year-ago quarter. The firm says current economic conditions will present challenges, but expects continued growth
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