SALT LAKE CITY—Nutraceutical International Corporation ( NASDAQ:NUTR) posted strong first quarter (1Q) 2010 results, led by $44.8 million in net sales, up from $39.6 million for 1Q 2009. For 1Q10, net income was $3.9 million, or $0.37 diluted earnings per share, compared to net income of $3.1 million, or $0.28 diluted earnings per share, earned a year ago.
The company partially credited recent acquisitions for the improved performance. " Our recent acquisitions have enhanced our offerings of liquid and powdered nutritional supplements and health and beauty products,” said Bill Gay, chairman and CEO. “We believe our expanded product offerings provide regional opportunities for our marketing and sales organization to gain additional shelf space and better serve our customers. Operationally, we will continue to cut controllable expenses and further integrate our acquisitions. We continue to believe that our core health and natural food store customers are regaining confidence in their businesses and we remain positive about our prospects for 2010."
He also gave credit to year-over-year growth in domestic and international sales of the company’s branded products. “EBITDA [earnings before income taxes, depreciation and amortization], cash flow and net income expanded in the first quarter as stronger sales allowed us to leverage our general and administrative cost structure,” he said.
