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Martek improves manufacturing

This article was originally published in The Tan Sheet

Executive Summary

Martek Biosciences' profits grow faster than its revenue in the nutritional company's first fiscal 2009 quarter due to manufacturing improvements and increased plant use. The Columbia, Md.-based firm March 4 says profits jumped 10.8 percent to $9.6 million, while revenue grew 7 percent to $87.4 million in the in the November-January period. The firm says it expects to boost profits by reducing contract manufacturing and focusing on higher margin nutritional oils business. Increased sales reflect higher revenues from Martek's infant formula, which grew 6 percent to $74.5 million. Sales of life'sDHA in non-infant formula products grew more than 12 percent due in part to life'sDHA being used in food products launched recently. Martek expects total revenue between $87 million and $92 million in its current quarter, with infant formula revenue between $76 million and $80 million
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