Natural Alternatives International, Inc. ("NAI"), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced that effective December 31, 2008 its former President, Randell Weaver's employment with NAI ended.
NAI also announced it completed certain amendments to its credit facility with Wells Fargo Bank. Among other changes the amendments extend the maturity date for the working capital line of credit from November 1, 2009 to November 1, 2010, while maintaining the current $7.5 million limit on the line of credit.
Mark LeDoux CEO stated, "Randy Weaver served NAI with distinction for many years and we are grateful to Randy for his contributions and efforts during his tenure at NAI. We wish Randy much continued success in his future endeavors. We are pleased with the extended terms of our credit facility with Wells Fargo, especially in relation to the current economic conditions."
NAI, headquartered in San Marcos, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to our clients including: scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review and international product registration assistance. For more information about NAI, please see our website at http://www.nai-online.com.
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are not historical facts and information. These statements represent our intentions, expectations and beliefs concerning future events, including, among other things, our expectations and beliefs with respect to our future financial and operating results, as well as future economic conditions and the impact of such conditions on our business. We wish to caution readers these statements involve risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. NAI's financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by us with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.