PARK CITY, Utah—Nutraceutical International Corp. (NASDAQ: NUTR) released its fiscal results for the third quarter (3Q10), ended June 30, 2010. Net sales were up 13 percent to $44.5 million, compared to $39.4 million reported in the third quarter of 2009 (3Q09). Net income also rose, topping $3.8 million ($0.36 diluted earnings per share), compared to $3.0 in net income in 3Q09. The company also released positive results for the nine months ended June 30, with net sales of $137.2 million, compared to $121.0 million for the same period in fiscal 2009. Operating cash flow was $13.3 million, which, combined with net borrowings of $11.0 million, was used to invest in property/equipment purchases, business acquisitions and common stock repurchases.
Bill Gay, chairman and CEO, commented, “The rapid integration of recent acquisitions into our business has positively impacted our quarterly and year-to-date net sales, net income and Adjusted EBITDA. It is encouraging to deliver both improved gross margins and reduced selling, general and administrative expenses as a percentage of net sales. Continued execution of our long term business strategy is essential to our long-term growth and success, including increasing market share in health and natural food stores, completing synergistic acquisitions, expanding into other strong-margin natural product channels and international expansion."
Nutraceutical currently manufactures and/or distributes more than 4,000 SKUs, including 700+ SKUs sold internationally. Its portfolio of natural products brands encompasses Solaray®, KAL®, Nature's Life®, LifeTime®, Natural Balance®, bioAllers®, Herbs for Kids™, NaturalCare®, Health from the Sun®, Life-flo®, Organix South®, Pioneer® and Monarch Nutraceuticals™. It also owns several natural food market and health food chains.
