Stock News
Published: Wednesday, October 01, 1997
Bionutrics Inc. (BNRX) reported $1.7 million in sales for its 3Q97 ended July 31. The revenue reflects its first product launch, evolvE Advanced Cardiovascular Dietary Supplement. Loss for the quarter was $3.6 million or .22/share. As of July 31 the company had more than $5 million in cash and receivables, the current ratio stood at 2.5:1, and the company had no long-term debt.
Organic Food Products Inc. (OFPI) reported 4Q97 revenues of $2.5 million compared to 4Q96 revenues of $1.9 million and a net loss of $.03/share vs. a net loss of $.20/share in the prior-year period. Unaudited results for FY97 show revenues of $12.5 million, an increase of 63% over FY96 revenues of $7.4 million.
4Health Inc. (HHHH) has signed an agreement with Norwest Bank Credit Inc. to provide a revolving line of credit of up to $1.5 million to meet current short-term cash requirements and to fund working capital for future plans.
Goldman Sachs & Co. cut its stake in Whole Foods Market Inc. (WMFI) to 4.5%, selling 205,000 common shares between Aug. 29 and Sept. 5 at prices from $34/share to $34.50/share. It now holds 879,351 shares.
United Natural Foods Inc. (UNFI) earned $2.8 million in its 4Q97 ended July 31, or $.22/share, on record sales of $110.7 million, a 13.2% increase over $97.7 million sales in 4Q96. For the year, net income before extraordinary items was $9.3 million or $.79/share on sales of $421.7 million, up 10.6% from FY96. UNFI will merge with Stow Mills Inc. in a pooling transaction by the end of 1Q98.
Standard & Poor’s assigned its “single B-plus” rating to NBTY Inc.’s (NBTY) $150 million senior subordinated notes due in 2007, and its “double B-plus” rating to the company and to its revolving secured bank credit facility. Poor’s expects total debt levels to remain constant and cash balances to grow over the intermediate term. Continued operating performance and strong industry growth should enable the company to sustain the credit rating, despite competition and an aggressive U.S. retail expansion strategy, Standard & Poor’s said.
Nutrition For Life International Inc. (NFLI) declared a quarterly cash dividend of $.02/share payable Oct.10 to shareholders of record as of Sept. 30. The company introduced a Unidial Communications long-distance calling plan that it will sell through its independent distributors.
Worthington Foods Inc. (WFDS) confirmed that analyst estimates for 3Q97 earnings of $.26/share are reasonable, as are estimates of $1.06 to $1.08/share for the year. Sales goals exceeding $30 million for the quarter and $123 million to $125 million for the year are reachable, up from $109.1 million last year, the company said. A new line of meat substitutes for supermarket refrigerated display cases and a move into European supermarkets will boost WFDS’ sales growth rate to its 15% per year long-term target.
Superior Supplements Inc. (SPSU) reported operating income of $74,293 on sales of $2 million for its 4Q97 ended June 30, and an operating loss of $67,455 on sales of $4.6 million for the year. A net loss for the year of $558,720 is due primarily to a loss on the sale of securities of $450,000 in 3Q97.
Vermont Pure Holdings Ltd. (VPUR) said profit for 3Q97 ended July 26 was $560,017, up 83% from 3Q96. A 19% jump in sales to $5.7 million through acquisitions and increased demand in the northeastern U.S. is responsible.
Martek Biosciences Corp. (MATK) lost $3.8 million or $.28/share on record sales of $1.1 million in its 3Q97 ended July 31. Revenue growth from $422,000 in 3Q96 was due to sales of nutritional and drug-discovery products, while its net loss, up from $.22/share, is due to higher marketing expenses and research and development costs.
Chattem Inc. (CHTT) said earnings per share will rise 60% this year on sales increases of 20%. The company reported operating profit of $.31/share on sales of $38.9 million for its 3Q97 ended Aug. 31, up from $.24/share and $38.8 million a year ago.
Hain Food Group Inc. (NOSH) reported $19.2 million in sales and $272,000 or $.03/share in net income in its 4Q97 ended June 30. For the year, sales were $65.4 million and net income $1.1 million or $.12/share, compared with sales of $69.6 million and net income of $2.1 million or $.24/share in the prior year. The company will acquire Westbrae Natural Inc. (WNAT) for $3.625 per share in cash.
Natural Alternatives International Inc. (NAII) lost $1.2 million or $.22/share on sales of $13.97 million in its 4Q97 ended June 30 but earned $120,000 or $.20/share on sales of $49.4 million for the year. NAII’s new tableting processing facility is operational and working on a record $18 million backlog.
Rexall Sundown Inc. (RXSD) declared a two-for-one stock split in the form of a one-share stock dividend paid Oct. 23 to shareholders-of-record on Oct. 7.
Herbalife International Inc. (HERB) will pay its regular quarterly dividend of $.15/share Nov. 6 to shareholders-of-record on Oct. 30.