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Advanced Nutraceuticals Posts Profits for FY01


Financial

Advanced Nutraceuticals Posts Profits for FY01

DENVER--According to a press release issued in January, selling Nutrition for Life (NFLI) put Advanced Nutraceuticals Inc. (NASDAQ:ANII) in the black for its fiscal year 2001 (FY01), ended Sept. 30. Revenues generated $17.6 million, up 9.6 percent from $16 million for FY00. Gross margin decreased to 30.1 percent of sales from 34.2 percent of sales in the year prior, while operating expenses increased to $5.9 million from $4.7 million. Net profit was $165,000 (or $.08 per share earned), thanks to a $1.1 million payment that was part of selling NFLI in early 2001; in the same period last year, the company experienced a net loss of $4.0 million (or $2.08 per share lost).

Bactolac, the company's subsidiary for private label contract manufacturing of vitamins and other dietary supplements, continued to show solid growth and profits, according to the company. The company also stated that capital investments made during 2001, including those on high-tech lab equipment and high-speed manufacturing equipment, resulted in faster product turnaround and greater control over quality.

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