ORLANDO, Fla., Nov 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- Bio-One Corporation (BICO) reported today consolidated net sales of $10,467,162 in the third quarter ended September 30, 2004 compared with $20,220 in the third quarter of 2003, an increase of 517%. The company said that after deducting non-operating expenses of depreciation, amortization and interest, it had a net loss of ($1,265,003) or ($0.01) per share compared with a net loss of ($367,198) or ($0.01) per share in the comparable quarter a year earlier.
For the quarter, the company had operating income of $938,994 compared with an operating loss of ($362,415) in the comparable period a year earlier, an improvement of 359%.
For the first nine months of 2004, the company reported consolidated net sales of $26,068,340 compared with $20,220 in the first nine months of 2003, an improvement of 1288%. After deducting non-operating expenses of depreciation, amortization and interest, the company incurred a net loss of ($6,354,083) or ($0.08) per share compared with a net loss of ($691,125) or ($0.02) per share in the first nine months of 2003. Operating income for the first nine months of 2004 was $2,047,716 versus an operating loss of ($678,343) in the first nine months of 2003, an improvement of 402%.
Armand Dauplaise, chief executive officer of Bio-One, said, "I am pleased to report our second consecutive quarter of operating profit. These results reflect the impact of our acquisitions and vertical integration program coupled with the operating performance of our subsidiaries. Our balance sheet has also been considerably strengthened. At the end of the quarter, we had total assets of $52,262,004 and total liabilities of $40,173,848."
Bio-One Corporation is a nutritional supplements company serving the preventive and alternative healthcare segments. The company intends to acquire additional businesses in order to provide quality nutritional products to consumers through vertical integration of manufacturing, distribution and marketing. Current Bio-One subsidiaries include PNLabs, American Nutritional Exchange, Interactive Nutrition International, WeiFang Shengtai Pharmaceuticals Co. Ltd., Nutrition Sciences Corporation and ANI Distribution.
Bio-One Corporation is committed to its mission of the continuing pursuit of excellence in serving its customers, suppliers, team members and shareholders. Bio-One is confident that it will accomplish its mission and goals through the application of its management philosophy, which is to treat others the way they would want to be treated themselves.
Certain statements released by Bio-One Corporation that are forward- looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. These include, but are not limited to, economic, competitive, governmental, technological and other risks detailed in the company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the company undertakes no obligation to update these statements for revisions or changes after the date of this release.