HILLSIDE, N.J., Nov. 12 /PRNewswire-FirstCall/ -- Integrated Health Technologies, Inc. (BULLETIN BOARD: IHTC.OB) today announced its financial results for the first quarter ended September 30, 2002.
First quarter revenues decreased approximately 7% to $4,848,190 from $5,084,994 for the same period a year ago. Net operating income for the quarter was $186,510 or $.03 per share on 7,170,783 shares outstanding compared to operating income of $35,616 or $.01 per share on 6,228,720 shares outstanding for the comparable quarter of last year.
"We are pleased with the continued improvement in profits and are encouraged that this trend will continue," commented Seymour Flug, President and Chief Executive Officer of Integrated Health Technologies, Inc.
Integrated Health Technologies, Inc. is a unique grouping of companies presently serving the diversified needs of the nutraceutical industry: Manhattan Drug Company, Inc. provides contract manufacturing, IHT Health Products, Inc. provides raw material sourcing and Integrated Health Ideas, Inc. provides new product development and technical services.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission.