April 30, 2010
PURCHASE, N.Y. Nutrition 21 Inc. (OTC BB: NXXI) released its financial results for the third quarter of 2010 (3Q10), ended March 31, 2010. Total revenues from continuing operations were $1.7 million for 3Q10, compared to $2.0 million in 3Q09. Net loss was reduced, with Nutrition 21 reporting a net loss of $0.7 million in 3Q10, compared to a net loss of $1.1 million in the corresponding 2009 period.
For the nine months ended March 31, 2010, total revenues hit $6.0 million, up from $5.5 million in the comparable period a year ago. Similarly, net loss for continuing operations was reigned in, hitting $1.8 million, compared to a loss of $3.5 million in the corresponding nine month period in the 2009 fiscal.
During 2Q10, Nutrition 21 completed the sale of its retail and direct response businesses; net loss from discontinued operations for 3Q10 was $0.1 million, compared to a gain of $0.7 million in the comparable period in 2009.
Michael Zeher, president and CEO, said, Our operating income for the quarter of $0.2 million was 11 percent of total revenues compared to $52,000, or 0 percent of total revenues, in the comparable period a year ago. For the nine months ended March 31, 2010, our operating income was $1.0 million, or 17 percent of total revenues, compared to an operating loss of $0.2 million, or negative 3 percent of total revenues, in the comparable period a year ago. We continue to work on improving both our top-and bottom-lines, and developing new opportunities for our ingredients business.
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