Natural Alternatives CutsEarnings Loss in 3Q

Natural Alternatives Cuts Earnings Loss in 3Q

SAN MARCOS, Calif.--Natural Alternatives International Inc. (NASDAQ:NAII) reported a small increase in revenues and an improved net loss for its third quarter ended March 31. Net sales climbed $.8 million to $10.3 million, while gross margin expanded to 22 percent from 6 percent a year ago. Operating expenses rose six points as a percentage of sales compared to the same period last year, but net loss still improved to $.23 million or $.04 per share from $1.8 million or $.31 per share lost in the comparable 2000 quarter.

Among operating improvements achieved during the quarter, total debt decreased to $3 million, a 36-percent drop from June 30, 2000; net cash flow from operations increased to $3.6 million from $.8 million for the same period last year; sales in the company's direct-to-consumer physicians branded product line exceeded $3.9 million or 12 percent of total sales; and, NAII's Swiss manufacturing facility contributed a high $5.6 million or 18 percent of net sales. Management noted that one of its newest mass market customers under performed, causing a loss in net sales and forcing NAII to provide for a collection impairment. Excluding litigation fees and the collection impairment, the company would have posted a slight net gain in earnings for the quarter.

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