Source: LOHAS Weekly Newsletter
Published: Saturday, November 01, 1997

General Nutrition Cos. Inc. (GNCI) reported fully diluted earnings of $.29/share for its 3Q97 ended Oct. 11, a 38% increase over last year’s $.21/share. Consolidated revenue grew by 23% to $278 million. Net earnings increased by 34% to $23.9 million. EPS for the quarter increased 35%, before restructuring charges in the prior year’s 2Q, to $.85/share as consolidated revenue increased by 21% to $817 million. Comparable store sales increased 10.1% in the quarter for company-owned locations and 22.1% for franchise locations. GNCI will introduce the DHA-Omega-3 nutraceutical line of products through its retail outlet system as part of a nutraceutical alliance with Monsanto (MTC). The company also announced it will introduce Monsanto’s ingredient SeaGold, an oil rich in docosahexaenoic acid, or DHA, made from golden marine microalgae, through its proprietary line of products early in 1998.

Weider Nutrition International Inc. (WNI) reported net income of $1.7 million or $.07/share for 1Q98, compared to pro forma net income of $.13/share for 1Q96. Sales increased 14% to $53.5 million. Income for 1Q was impacted adversely by approximately $1.8 million from transition costs and temporary delays in the start-up of manufacturing in its new Utah facility.

Bionutrics Inc. (BNRX) reported total sales of $1.7 million in 3Q97 ending July 31, reflecting the launch of its first product, evolvE Advanced Cardiovascular Dietary Supplement. The 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 and no long-term debt.

Cyanotech Corp. (CYAN) said weaker-than-anticipated demand for its spirulina products resulted in 2Q98 revenue and earnings below 2Q97. For 2Q98, the company reported net sales of $2.05 million and a net loss of $54,000. This compares with net sales of $2.8 million and net income of $4.1 million or $.07/share in 2Q97.

PDK Labs Inc. (PDKL) achieved net sales of $13.6 million in 3Q97 ended Aug. 31, up from $11.9 million a year earlier. Gross profit was $6.4 million or 47% of sales, up from $4 million or 3% of sales in 3Q96. The company declared a $.24/share dividend on its Series A Convertible Preferred Stock payable Oct. 15 to shareholders-of-record on Oct. 10.

The Hain Food Group Inc. (HAIN) reported sales for 1Q98 ended Sept. 30 of $16.3 million, an increase of 6% over 1Q97. Net income was $476,000 or $.05/share, an increase of 42% over $336,000 or $.04/share in 1Q97. The company filed a registration statement for the sale of 2.5 million shares of common stock plus 325,000 shares by selling-shareholders. Stephens Inc. and Oppenheimer & Co. Inc. are managing underwriters. Proceeds will be used to reduce bank debt incurred in the company’s acquisition of Westbrae, completed Oct. 15. Effective Oct. 31 Hain’s Nasdaq ticker symbol changed from NOSH to HAIN.

Twinlab Corp. (TWLB) reported net sales for its 3Q97 increased 24.9% to $49.2 million, compared to $39.4 million for the same period in 1996. Quarterly net income increased 66.2% to $4.5 million or $.17/share, up from pro forma 3Q96 net income of $2.7 million or $.10/share.

Wild Oats Markets Inc. (OATS) said 3Q97 sales were $80 million, an increase of 33% over sales of $60.2 million for 3Q96. Comparable store sales increased 6% for the quarter and 5% for the nine months, based on figures for both new and acquired stores that have been operating longer than 12 months.

Nu Skin Asia Pacific Inc. (NUS) said revenues increased 23% in its 3Q97 ended Sept. 30 to $226.4 million from $183.6 million in 3Q96. Net income advanced to $27.3 million or $.32/share, excluding $4.5 million in pretax, nonrecurring, noncash expenses associated with its 1997 distributor stock-option program. This compared with net income of $25.2 million or $.31/share for 3Q96. Net income including the distributor stock-option expenses was $24.5 million or $.29/share for the quarter. Excluding the impact of foreign currency translation, revenue for the quarter increased 33%.

Pure World Inc. (PURW) announced revenues of $9.68 million for the nine months ended Sept. 30, an increase of 76% over the prior year. For 3Q97 the company’s revenues were $3.6 million compared to $1.6 million for 3Q96, a gain of 126%. Net income was $912,000 or $.12/share, compared to a loss of $310,000 or $.04/share in 3Q96. Quarter results included nonrecurring income of $242,000 from the sale of a former subsidiary. Record revenues were attributed to improved results at its operating subsidiary, Madis Botanicals Inc., where sales increased 102%.

The Perrigo Co. (PRGO) said net sales for 1Q98 ended Sept 30. were a record $223.77 million, an increase of nearly 6% over 1Q97. Net income was $13.2 million or $.17/share, up 23% from net income of $.14/share a year ago.

Body Shop International Plc. said sales rose 6% to $470 million in the six months ended in August, despite a $4.8 million operating loss in the U.S. Pretax profits rose to $20.5 million from $19.7 million a year earlier.

AMBI Inc. (AMBI) reported a net loss of $724,000 or $.04 per share in 1Q98 ended Sept. 30, compared to a net loss of $4.4 million or $.21/share in 1Q97. Revenues declined 26% to $3.2 million, primarily because AMBI completed the sale of a food-preservative business during the period. Revenues increased 92% if food-preservative business results are excluded.

CNS Inc. (CNXS) reported sales of $12.6 million for 3Q97, down from $19.4 million last year. The decline resulted from lower international sales, which had been anticipated. Net income was $2.56 million or $.13/share, compared with $3.89 million or .19/share in 3Q96.

Monterey Pasta Co. (PSTA) will expand nationally through more than 300 Sam’s Club stores. PSTA reported net income for 3Q97 ended Sept. 28 of $274,663 on net revenues of $5.2 million, up from a $5.9 million loss on $5.6 million in revenues in 3Q96. After dividends to preferred and certain common shareholders, the company earned $.02/share in 3Q97, up from a $.75/share loss a year earlier.

Opta Food Ingredients Inc. (OPTS) reported revenue of $2.2 million for 3Q97 ended Sept. 30, as compared to revenue of $2.2 million in 3Q96. Net loss was $971,000 or $.09/share, compared to a net loss of $1.2 million or $.11/share in 3Q96.

The Fresh Juice Co. (FRSH) earned $257,465 or $.04/share in 3Q97. Record quarterly sales of $10.65 million were reported. Record quarterly sales continued for the sixth straight quarter, and three successive profitable quarters resulted in earnings of $.23/share for the nine-month period.

Usana Inc. (USNA) posted record net earnings of $1.9 million or $.29/share on record revenue of $22.9 million in 3Q97 ended Sept. 27, vs. net earnings of $1.5 million or $.23/share on revenue of $16.1 million for 3Q96.

Nature’s Sunshine Products Inc. (NATR) earned $5.4 million or $.29/share in its 3Q97 on sales of $71.59 million, up from $4.5 million or $.23/share on sales of $63 million in 3Q96.

Ben & Jerry’s Homemade Inc. (BJICA) will report net income of about $2.5 million or $.34/share in its 3Q97, up 39% from 3Q96. Sales climbed to $50 million from $46.1 million. The company signed a deal with a major retailer in Japan to sell single-serving ice cream beginning in 1998 and with Royal Sporting House of Singapore to distribute in all channels in Singapore, Malaysia, Indonesia and the United Arab Emirates.

Worthington Foods Inc. (WFDS) said net income increased 24% to $2.36 million or $.24/share in 3Q97 ended Oct. 3. Net sales improved 5.7% to $28.8 million. The company declared a four-for-three share split to be distributed on Dec. 5 to shareholders-of-record as of Nov. 14 and a 14.4% increase in the quarterly cash dividend to $.0215 paid Jan. 26, 1998, to shareholders-of-record as of Dec. 19.

Standard & Poor’s Financial Information Services added General Nutrition Cos. Inc. (GNCI) to the S&P MidCap 400 index.

Wholesome & Hearty Foods Inc. (WHFI) changed its name and ticker symbol to Gardenburger Inc. (GBUR). Results for 3Q97 showed a 41% increase in sales to $15.5 million and a net loss, in line with its operating plan, of $.08/share, primarily due to costs of the successful national rollout of the flagship Gardenburger product into the retail grocery channel, where it already is in the number two market position. The company has signed a contract to provide Gardenburgers to more than 1,600 Denny’s restaurants in the U.S. and Canada.

Galaxy Foods Co. (GALX) announced record net income of $125,392 for 2Q98 ended Sept. 30, compared to a net loss of $89,942 in 2Q97. Sales increased 28.6% to $10.9 million.

Organic Food Products Inc. (OFPI) reported net revenues of $11.4 million and earnings of $55,167 or $.01/share in its FY97 ended June 30. In FY96 the company lost $649,062 or $.11/share on revenues of $7.6 million.

Hauser Inc. (HAUS) achieved revenues of $7.5 million in its 1Q97 ended July 31, up 53% from the prior year. The company’s net loss was cut to $181,000 from a 1Q96 loss of $4.2 million. Sales of paclitaxel rose 113% to $2 million, and nutraceutical sales were up 151% to $2.5 million.

Whole Foods Market (WFMI) said sales, without the newly acquired Amrion Inc., increased 19.1% to $252.6 million for its 4Q97 ended Sept. 28 or 19.9% to $1.05 billion for the fiscal year. Comparable sales for all stores increased 11% for the quarter and 8.3% for the year.

Herbalife International Inc. (HERB) reported a 26% rise in net income to $14.3 million or $.45/share on a 28% rise in retail sales to a record $393.9 million in 3Q97.

Superior Supplements Inc. achieved sales of $1.53 million in its 1Q98 ended Sept. 30, up 98.6% from $770,954 in 1Q96. Net income was $86,169 or $.02/share.