ChromaDex Corporation, a leader in phytochemical reference standards and contract research, today announced financial results for the first quarter of 2010.
In the first quarter of fiscal 2010, ChromaDex recorded revenue during the first quarter of 2010 of $1,937,592 as compared to $1,447,127 for the same period in 2009. This represents a 34 percent year-over-year revenue growth.
On a reported basis calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced a net income attributable to common stockholders of less than $0.01 per share for the thirteen week period ended April 3, 2010.
“With the launch of pTeroPure and the growth of our core business, we are in an ideal position to be the partner of choice for food, beverage, dietary supplement, and cosmetic companies as they look to strengthen their respective businesses through new product offerings and improved product quality,” said Frank Jaksch, CEO and co-founder of ChromaDex.
Additional Financial Results & Notes
On a reported basis, the net income attributable to common stockholders for the thirteen weeks ended April 3, 2010, was $33,742 as compared to a net loss of $323,842 for the same period in 2009. The net income in the first quarter is attributable to the increase in revenues coupled with a decrease in direct labor and overhead as a percentage of sales. As of April 3, 2010, cash, cash equivalents, and marketable securities totaled $538,675.
ChromaDex is a leader in the development of phytochemical and botanical reference standards and the creation of associated intellectual property. ChromaDex is committed to sustainable “green chemistry” and provides the dietary supplement, food, beverage, nutraceutical and cosmetic industries with the novel ingredients, analytical tools and services to meet product regulatory, quality, efficacy and safety standards. Among other things, the Company is currently focusing on clinical studies and the commercialization of its new product, pTeroPure™ pterostilbene (www.pteropure.com) as a result of its exclusive worldwide patent rights for pterostilbene. For more information, visit www.chromadex.com or follow ChromaDex on Twitter @ChromaDex.