Nutrition 21’s loss dwindles
This article was originally published in The Tan Sheet
Executive SummaryConsumer purchases of Iceland Health formulas at retail increased 29 percent in the firm's fiscal 2009 third quarter, more than triple the growth of the vitamin-mineral-supplement category. The Purchase, N.Y.-based company reports in an earnings release May 12 that net revenue fell 20.4 percent to $8.6 million from the year-ago quarter primarily due to "turbulent economic conditions." The company narrowed its losses during the January-March period, however, with a net loss of $400,000 compared to a loss of $8.2 million in third quarter fiscal 2008. Nutrition 21 says it expects an increase in revenues and is "building considerable leverage and sustainability into our operating model." The firm is "demonstrating that our combination of strong branding, safe and efficacious products, and effective marketing support are driving strong results," according to President and CEO Michael A. Zeher
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