Stock News
Published: Friday, October 01, 1999
Martek Biosciences Corp. (MATK) posted revenues of $1.32 million and a net loss of $3.62 million or $.23/share in its 3Q99 ended July 31. Revenues are similar to 3Q98 revenues of $1.32 million and net loss of $3.5 million or $.24/share.
Vermont Pure Holdings Ltd. (VPS) said revenues for 3Q99 increased 3% to $9.43 million from $9.16 million in 3Q98. Net income was $1.01 million or $.10/share compared to $1.13 million or $.11/share in 3Q98. VPS acquired Adirondack Coffee Service and the Absolute Coffee Co. in summer 1999, with combined revenues of $1.8 million.
Hauser Inc. (HAUS) said total revenues for its 1Q99 were $17.69 million as compared to $7.05 million a year ago. Net loss was $2.22 million or $.55/share, from a net loss of $1.06 million or $.41/share in 1Q99.
Natural Health Trends Corp. (NHTC) increased sales 72% in its 2Q99 to $4.82 million from $2.8 million in 1Q99. The company’s net loss decreased from $1.26 million to $996,000. Results are not comparable with 2Q98. The company sold off its vocational schools last August in order to focus on expanding its line of natural health products and distribution network. It acquired Kaire International Inc. in February.
The Hain Food Group Inc. (HAIN) reported sales for its 4Q99 ended June 30 of $61 million, an increase of 97% over $31 million in 4Q98. Net income was $3.52 million or $.25/share basic and $.23/share diluted, an increase of 106% over 4Q98 income—before an extraordinary charge—of $1.71 million or $.15/share basic and $.13/share diluted. For the year, sales were $206 million, 102% more than sales of $104.3 million in FY98. Net income was $11.03 million or $.81/share basic and $.71/share diluted, an increase of 138% over income before the extraordinary charge in FY98.
United Natural Foods Inc. (UNFI) announced a net loss of $1.35 million or $.07/share on $214.47 million in sales for its 4Q99, compared to net income of $4.43 million or $.25/share in 4Q98 on $189.97 million in sales. For the year, the company earned $13.47 million or $.73/share on $857 million in sales, compared to earnings of $13.09 million or $.74/share on $728.91 million in FY98 sales.
Finnish margarine and food maker Raisio Group Oyj (RAIVV) said it expects its full-year 1999 results to remain substantially below last year’s due to margarine export difficulties and schedule changes in the U.S. launch of its Benecol spread. Raisio sees its full-year 1999 sales dropping roughly 7% from last year’s to $804.3 million.
PDK Labs Inc. (PDKL) authorized a $2 million buyback of the company’s common stock. The company in September repurchased 380,000 shares from Heartland Advisors Inc.
Dutch specialty foods company Royal Numico NV (NUTV) began a share issue in September intended to raise $470 million. The money, and $626.7 million in convertible bonds, will be used to help finance Numico’s $2.5 billion acquisition of General Nutrition Cos.
Natural Alternatives International Inc. (NAII) said net sales for 4Q99 ended June 30 declined 51% to $10 million from $20.6 million in 4Q98. Net loss was $505,000 or $.09/share diluted vs. net earnings of $2.09 million or $.34/share a year ago. For FY99 net sales were $57.43 million compared to $67.89 million in FY98. The net loss was $2.92 million or $.50/share diluted vs. a net profit of $5.87 million or $1/share for FY98.
The Perrigo Co. (PRGO) said net sales for 4Q99 ended July 3 were $187.7 million compared to $214.5 million a year ago. A net loss of $2.9 million or $.04/share included several one-time charges and gains. The company posted a net loss of $88.8 million or $1.19/share in 4Q98. For FY99 sales were $877.6 million, down from $902.6 million in FY98. Net income was $1.5 million or $.02/share, up from a loss of $51.6 million or $.69/share in FY98.
AMBI Inc. (AMBI) increased revenues 36% from $20.8 million in FY98 to $28.3 million in FY99 ended June 30. Net income was $5.9 million or $.19/share diluted in FY99 compared to net income of $1.1 million or a $.04/share loss in FY98. Revenues for 4Q99 were $8.2 million as compared to $6.5 million in 4Q98. Net income was $900,000 or $.03/share diluted, up from $800,000 or $.02/share diluted in 4Q98.
Green Mountain Coffee Inc. (GMCR) will repurchase up to $500,000 of its outstanding shares over the next three months. The company will use the PeopleSoft eStore Internet channel and PeopleSoft solutions to drive its website at www.greenmountaincoffee.com.
NASD Regulation Inc. said The Harriman Group Inc. (HGI) was fined $12.3 million and expelled from the National Association of Securities Dealers Inc. HGI was the lead underwriter of three securities including Natural Health Trends Corp. (NHTC). It illegally profited by purchasing stock at below-market prices to cover large short positions the firm had intentionally created in its inventory. The firm purchased the covering shares from shareholders who had received their securities prior to the IPOs.
Usana (USNA) completed the repurchase of 2.65 million shares of its stock from Myron Wentz, the company’s founder, CEO and chairman, at $7.90/share for a total of $20.9 million. The repurchase reduces Wentz’s holdings to 45.9% from 57.1% of USNA’s issued and outstanding shares. USNA borrowed about $18 million through a new credit agreement with Bank of America to fund the transaction. USNA also said it will record a $4.4 million pretax charge in 3Q99 to restructure its European operations and expects this to result in an estimated 3Q99 loss of between $.07/share and $.08/share.
Amcon Distributing (DIST), parent of natural products distributor Food For Health, declared a dividend of $.02/share payable on Oct. 22 to shareholders-of-record on Oct. 1.