LAVAL, QC, Sept. 28 /CNW Telbec/ - Neptune Technologies & Bioressources
Inc. (TSX-V: NTB), is pleased to report financial results for the fiscal year
ended May 31, 2006. During the last fiscal year, Neptune continued its
communication and marketing strategy to penetrate the American, European and
Asian markets, resulting in excellent sales growth.
Financial Results and Highlights:
- Increased sales by 45% to a record $7,292,000 compared to $5,038,000
in the previous year before EIC-156 application.
- EBITDA margin increased by 81% to 14.38%, compared to an EBITDA
margin of 7.96% in the previous year.
- Increased EBITDA 162% to a record $1,049,000, compared to an EBITDA
of $401,000 in the previous year. This is Neptune's second
consecutive year with a positive EBITDA.
- Reduced net loss by 50% to $886,000 or $0.029 per share for the year
ended May 31, 2006, as compared to $1,768,000 or $0.069 per share in
the previous year.
- Eliminated all long-term convertible debentures - $5,632,000 capital
and interest, (through conversion and redemption) erasing annual
interest expense of $721,000 and realizing a gain on debt settlement
of $1.4 million.
Neptune has restated its second and third quarter in order to reflect
additional accounting value of the stock based compensation, as well as other
The complete audited annual report and restated interim financial
statements will be available for review on SEDAR at:
About Neptune Technologies & Bioressources Inc.
Neptune Technologies & Bioressources Inc. develops high value added
nutritional products from underexploited marine biomasses, such as krill, with
its patented extraction process (Neptune OceanExtract(TM)). Using an exclusive
process, Neptune Technologies & Bioressources Inc. is well positioned in the
$182 billion global nutrition market (Nutrition Business Journal, Oct/Nov
2004) of health and wellness concepts. Natural biomass extraction is now
playing an important role in developing nutrigenomics, the next wave in
nutritional research. Through strategic alliances and partnerships, as well as
through clinical studies, the Company continues to demonstrate the immense
beneficial effects of these products. The Company develops and markets new
formulas and new products for specific applications in high growth markets
such the nutraceutical, cosmeceutical, biopharmaceutical and nutrigenomics
Except for statements of historical fact, all statements in this news
release - including, without limitation, statements regarding forecasts, plans
and objectives of Neptune Technologies & Bioressources Inc. - are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate; actual
results and future events could differ materially from those anticipated in
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.