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| Source: | LOHAS Weekly Newsletter |
| Published: | Monday, November 01, 1999 |
Opta Food Ingredients (OPTS) posted 3Q99 revenues of $5.4 million, up 30% from $4.1 million in 3Q98. Net income was $316,000 or $.03/share vs. a net loss of $488,000 or $.04/share for 3Q98. The earnings mark the first profitable quarter in the company’s history.
Futurebiotics Inc. (VITK) reported 3Q99 net sales of $1.5 million vs. $2.6 million in 3Q98. VITK says the decline in sales is a result of unfavorable market conditions, weak distribution and discounted items. Gross profit on 3Q99 sales was $82,000 vs. $1.1 million in 3Q98.
Vacu-dry (VDRY) reported FY99 and 4Q99 net losses of $2.9 million or $1.93/diluted share and $4.3 million or $2.82/share, respectively, on net revenues of $3.4 million and $957,000, respectively. Net revenues for FY98 and 4Q98 were $669,000 and $311,000, respectively. Net earnings for FY98 and 4Q98 were $899,000 or $.56/diluted share and $48,000 or $.03/diluted share, respectively. In July VDRY sold its processed apple products line to Tree Top of Selah, WA, for $12 million.
PDK Labs posted 3Q99 net sales of $12.3 million vs. $13.9 million in 3Q98. However, net earnings for 3Q99 were $548 million or $.17/share, up from $394 million or $.10/share in 3Q98.
Balance Bar (BBAR) posted 3Q99 sales of $28.6 million, up 33% from $21.5 million in 3Q98. Operating results for 3Q99 include a $350,000 provision related to a product withdrawal. Excluding the provision, net income for 3Q99 was $2.2 million or $.17/diluted share vs. $1.4 million or $.11/diluted share for 3Q98. Including the product withdrawal provision, net income for 3Q99 was $2 million or $.16/diluted share, up 44% from 3Q98 net income of $1.4 million or $.11/diluted share.
Natrol (NTOL) posted $21.2 million in revenue for 3Q99, up 8.6% from 3Q98 revenues of $19.5 million. Net income was up slightly for the quarter to $2.54 million or $.19/diluted share from $2.52 million or $20/diluted share in 3Q98. The relatively flat earnings for 3Q99 were attributable to increases in general and administrative expenses, President Elliott Balbert says.
Galaxy Foods (GALX) obtained a $4 million subordinated loan with Finova Mezzanine Capital of Nashville, TN. GALX currently has a $5.5 million senior revolving credit facility and a $3 million term note with Finova Capital.
Chai Na Ta (CCCFF) posted 3Q99 revenues of $3.3 million vs. $425,000 in 3Q98. CCCFF posted a net loss for the quarter of $1.4 million, with a fully diluted loss of $.31/share, vs. a net loss of $1.4 million or $.35/fully diluted share in 3Q98.
Pure World (PURW) posted 3Q99 sales of $3.5 million vs. 3Q98 sales of $6.4 million and a net loss for 3Q99 of $1.8 million or $.22/share vs. net income of $1.5 million or $.16/share in 3Q98.
Worthington Foods (WFDS) posted 3Q99 net sales of $38.9 million, up 11.6% from $34.8 million in 3Q98. Net income was $839,000 or $.07/share vs. 3Q98 net income of $2.3 million or $.19/share.
Monterey Pasta (PSTA) posted 3Q99 net revenues from continuing operations of $9.9 million, up from $6.7 million in 3Q98. Net income from continuing operations for 3Q99 was $1 million or $.08/share, up from $569,000 or $.05/share in 3Q98.
Chattem Inc. (CHTT) said net sales for its 3Q99 ended Aug. 31 increased $11.1 million to $78.7 million in 3Q98, a 16% increase. Net income before extraordinary items and product divestiture was $6 million or $.60/share compared to $4.4 million or $.45/share for 3Q98, a 36% increase.
A group led by NY money manager Mario Gabelli lowered its stake in Celestial Seasonings Inc. (CTEA) to 16.96% or 1.41 million shares, from 18% or 1.5 million shares. The group sold 6,000 shares on Oct. 1 for $19.06/share.
Weider Nutrition International Inc. (WNI) said 1Q00 revenues increased 32% to $90 million compared to $67.9 million in 1Q99. The company reported net income of $1.36 million or $.05/share diluted. Weider earned $1.71 million or $.07/share diluted in 1Q99.