EL DORADO HILLS, Calif., Aug 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- NutraCea(R) (NTRZ) announced that, for the second quarter of 2005, the Company reported a 60% reduction in net loss per share, when compared to the second quarter of 2004.
Gross revenue increased to $299,237 in the second quarter of 2005 compared to $291,001 from the same quarter of 2004.
For the second quarter of 2005, the net loss was reduced to $1,516,405 compared to a net loss of $2,411,065 for the same quarter of 2004. More than half of the loss incurred in the 2nd quarter of 2005 resulted from non- recurring, non-cash expenses. Based on weighted average shares outstanding of 36,793,254 for the second quarter of 2005, the net loss per share was $0.04 per share. Comparable amounts for the second quarter ended 2004 based on weighted average shares outstanding of 24,616,107 was a net loss $.10 per share.
"We continue to make progress on all fronts and we anticipate realizing the initial financial benefits of a number of our strategic sales initiatives by, and possibly even before, the fourth quarter of this year", stated Edson, President of NutraCea.
NutraCea is a leader in stabilized rice bran nutrient research and dietary supplement development. The Company has developed intellectual property to create a range of proprietary product formulations, delivery systems and whole food nutrition products. NutraCea's proprietary technology enables the creation of food and nutrition products from rice bran, normally a waste by-product of standard rice processing. In addition to its whole foods products, NutraCea develops families of health-promoting "nutraceuticals," including natural arthritic relief and cholesterol-lowering products, and all-natural "cosmeceutical" beauty aids. More information can be found in the company's filings with the SEC and you can visit the NutraCea web site http://www.NutraCea.com.
Forward Looking Statements
This release contains forward looking statements that are subject to risks and uncertainties, including, but not limited to, the impact of the competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, availability of materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. The Company does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the Company's filings with the Securities and Exchange Commission, including the company's most recent periodic report.