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Neptune Q1 revenue surges 45%

Pharmaceutical product manufacturer posts rapid turnaround after factory investment.

Neptune Technologies & Bioressources, a company into production and formulation of science-based and clinically proven novel phospholipid products for the nutraceutical and pharmaceutical markets, has reported a revenue of $4,162,000, for the Q1 ended May 31, 2010, an increase of 45% compared to the same period in 2009.

Neptune has posted a net income of $476,000 for the Q1 ended May 31, 2010, compared to a net loss of $1,407,000 for the corresponding period ended May 31, 2009.

Neptune has reported consolidated EBITDA amounted to $676,000, compared to negative $284,000 obtained during the corresponding period ended 2009.

Xavier Harland, director of finance at Neptune, said: "We are extremely pleased with the revenue and profitability level reached during this first quarter, especially with net income from the nutraceutical segment, which amounts to 21% of our sales.

"We now see the impact of the investment we made last year in Neptune's manufacturing plant, which has translated into increased and improved production performance and led to these results."