Nutri Pharmaceuticals Research Inc. (Pink Sheets: NRPR) today reported first quarter 2005 results from operations. Sales approximated $421,000 as compared to $290,000 in first quarter of the prior year. Gross profit approximated $339,000 as compared to $207,000 in same period of the prior year. Operating expenses approximated $281,000 as compared to $179,000. Overall net income approximated $42,000 as compared to $11,000 in the same period of the prior year. Commenting on the results, Chief Executive Officer and President Godfrey Yew said: "We are thrilled to have concluded our best quarter results. Our performance this quarter reflects the sustained momentum we generated from our business development efforts during 2005. We have negotiated more favorable contracts and have been able to reduce our overall operating expenses."
Nutri Pharmaceuticals Research Inc. (www.o2p.us) provides a wide range of powdered oils for functional food, food supplement, dietary supplement, cosmetics, pet food and animal feed applications. The company is one of a select few to be awarded the prestigious Nutrition Business Journal "Product Merit Award" for its patent-pending O2P(TM) Powderization Process.
At the heart of its oil powders is the O2P Oil-to-Powder technology. This patent-pending process converts most edible oils, gels or pastes into a free-flowing powder without affecting the isomeric structure, fatty acid profile, color, taste or aroma of the base oil. O2P does not rely on traditional techniques that utilize extremes in heat or cold, or micro-encapsulation technology. The company currently offers more than 50 shelf-stable powders. The company can also apply O2P technology to a third party's oil, paste or gel through an arrangement called tolling. Based in Las Vegas, the company has representative sales offices near Chicago, Amsterdam, Guatemala City and Bangkok. Nutri Pharmaceuticals Research Inc. shares are currently traded in the United States on the "NQB (National Quotation Bureau) Pinksheets" under the symbol NRPR.PK.
The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Forward-looking statements are based on the company's current expectations and are subject to market, competitive and regulatory factors and the other risks and uncertainties indicated from time to time in the company's filings with the Securities and Exchange Commission. Actual results can differ materially. The company makes no commitment to disclose any revisions to forward-looking statements.