Sales & Earnings In Brief
This article was originally published in The Tan Sheet
Martek plans expansions in food applications, supplements: Following revenue contraction during 2009, the nutritional oils firm promises a return to earnings growth in 2010, led by launches of food applications for life'sDHA and deals with new customers. Martek Biosciences Chief Financial Officer Pete Buzy said during a Dec. 16 earnings call that major product introductions will come in 2010 after being delayed by economic conditions in 2009. Execs with the Columbia, Md.-based company said they hope to commercialize gummi, powder and emulsion formulations in the calendar year. Buzy also said Martek has "just scratched the surface" of the DHA supplement market and suggested the firm is eyeing worldwide expansion of its supplements. Martek's fourth-quarter revenues dipped 3.1 percent to $87.6 million, while net income rose 5.5 percent to $11 million, due to lower operating expenses. During the firm's fiscal 2009, ended Oct. 31, sales in Martek's pregnancy and nursing, nutritional supplements and animal feeds business shot up 37.3 percent to $28.6 million. Food and beverage applications generated $10.7 million in sales, up just 2.5 percent for the year, while infant formula fell 5 percent to $285.7 million. Buzy said Martek projects it will return to growing formula revenues in 2010 as its international expansion continues (1"The Tan Sheet" Sept. 7, 2009, In Brief)
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