BEDMINSTER, N.J.--(BUSINESS WIRE)--May 10, 2002--Pure World, Inc., (PURW-NASDAQ) ("Pure World" or the "Company") announced that revenues for the first quarter of 2002 were $3,632,000 compared to $4,308,000 for the first quarter last year and that the Company had sustained a net loss of $594,000 ($.07 per share) compared to a net loss of $687,000 ($.08 per share) for the same comparative period.
Paul O. Koether, Chairman, stated that sales continued to recover from their post September 11 lows. Although sales were materially below the first quarter of last year, the loss was lower indicating that the Company was managing its costs. Competition remains intense and gross profit margins are still under pressure.
Mr. Koether pointed out that the Company has introduced several novel weight control products in its "LeanLine(TM)" which are meeting customer approval, including YerbaLean(TM) (Yerba Mate extract standardized to contain 2% naturally occurring caffeine); BanabaLean(TM) (Banaba extract standardized to contain 1% corosolic acid); HydroxyLean(TM) (Foenugreek extract standardized to contain 2% hydroxyl isoleucine); and TheobromaLean(TM) (cocoa extract standardized to contain 5% to 8% theobromine).
Pure World has 7,936,034 shares of common stock outstanding.
This Press Release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. The per share earnings in the text of this news release are diluted earnings per share.