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New markets spur Martek sales

This article was originally published in The Tan Sheet

Executive Summary

DHA sales outside of infant formula products increase 40 percent during Martek Biosciences Corp.'s fiscal 2010 first quarter, which helped push the firm's revenues up 3 percent to $89.8 million. The Columbia, Md., firm March 2 said net income was roughly flat from the year-ago quarter at $9.6 million, or 29 cents per diluted share. Martek said the November-January period included $1.2 million in expenses from acquiring Amerifit Brands; excluding that expense, first-quarter earnings would have been $10.4 million, or 31 cents per diluted share, an 8 percent increase (1"The Tan Sheet" Jan. 25, 2010). CEO Steve Dubin said he is encouraged by "the prospect that we may be returning to growth in the second quarter." Martek said March 3 it extended its multi-year sole-source license and agreement to supply ARA for all of Danone's infant formula and growing-up milk products through at least 2014

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