LAVAL, Quebec—Neptune Technologies & Bioressources Inc. (NASDAQ: NEPT; TSX.V.NTB) released guidance on its expected sales results for the fourth quarter and fiscal year ended Feb. 28, 2010. Neptune expects its nutraceutical business revenue for 4Q10 to be in the range of $4 million to $4.5 million, an increase of between 6 percent and 19 percent compared to the similar quarter ended Feb. 28, 2009. FY10 business revenue for the nutraceutical business should reach $12 million to $12.5 million, compared to $11.65 million for the corresponding 12-month period ended Feb. 28, 2009.
“We are very pleased to announce that we expect to be reporting higher sales figures this year compared to the corresponding previous year, even though we have been affected for more than four months by a plant shut down required to increase capacity,” said André Godin, vice president, administration and finance, Neptune Technologies. “The plant is currently running at full capacity and we are looking forward to announcing our plan for further expansion in the following months.”
In additional news from the company, Pierre Lemieux joined Acasti as chief operating officer (COO), overseeing Acasti’s operations in various pharmaceutical programs. He has experience and knowledge of the medical food and over-the-counter markets, which should assist the company in broadening its endeavors in those areas.
