ALAMEDA, Calif., Mar 31, 2008 (PrimeNewswire via COMTEX) -- Allergy Research Group, Inc. (ALRG) today announced financial results for the year ending December 31, 2007.
ALRG announces revenues of $16,725,246 for the year ended December 31, 2007, an increase of 3% compared to $16,273,465 for the year ending December 31, 2006. The increase in sales is primarily due to the introduction of new products and promotional activities.
Cost of sales increased $146,836 to $10,340,573 for the year ended December 31, 2007, compared to $10,193,737 for the year ended December 31, 2006. The increase is due to increased sales. Gross profit margins were approximately 38% for 2007 and 37% for 2006. Gross profit margins increased slightly for the period over period comparison primarily as a result of increased prices on 50 items beginning in February 2007.
Net earnings after tax for December 31, 2007 and 2006 were $1,123,919 and $1,095,976, respectively. The increase is primarily due to the increased sales and gross profit offset by increased operating expenses and income tax expense.
Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com.
About Allergy Research Group, Inc.
Allergy Research Group, Inc. is an innovative leader in nutraceutical research and product formulation. Since its inception in 1979, the company has been noted for quality, hypoallergenic nutritional supplements and supplies products to physicians and healthcare practitioners worldwide.
The Allergy Research Group, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2517
Except for historical information contained herein, this release contains, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, forward-looking statements that are based on management's beliefs and assumptions, current expectations, estimates and projections. Many of the factors that will determine the Company's financial results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. The Company disclaims any obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise. Important factors and risks that may affect future results include but are not limited to: the impact of competitive products, changes in law and regulations, adequacy and availability of insurance coverage, availability of raw materials, dependence on distributors and customers, dependence on key personnel, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, customer demands, as well as other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission, copies of which are available upon request from the Company's investor relations department or via the SEC's website located at www.sec.gov.