BEDMINSTER, N.J.--(BUSINESS WIRE)--March 28, 2002--PURE WORLD, INC., (PURW - NASDAQ) today announced that for the year ended December 31, 2001, it incurred a net loss of $2,882,000 ($.35 per share) on revenues of $18,371,000 compared to revenues of $24,207,000 and a net loss of $1,591,000 ($.19 per share) for the year ended December 31, 2000.
Results for the year 2000 were favorably affected by a large processing contract which was not a factor in 2001.
In the fourth quarter ended December 31, 2001, Pure World had revenues of $3,280,000 with a net loss of $1,833,000 ($.22 per share). In the same quarter of 2000, revenues were $4,856,000 with a net loss of $1,866,000 ($.23 per share).
Paul Koether, Chairman said that the fourth quarter ended December 31, 2001 was materially and negatively affected by the uncertainties left by the September 11th tragedy. Some improvement in revenues is anticipated for the first quarter of 2002 but margins are still under competitive pressure. The Company has introduced four of its "LeanLine" botanical extracts which have been well received. It will shortly add two new LeanLine products. Also available is a new patent pending technology "Pure Powders" (TM) for sanitizing herbal powder without irradiation or Ethylene Oxide. Recently, Europe banned both of these techniques for eradicating microbial contamination opening an opportunity for Pure Powders. All of the new products are expected to contribute to sales in the second quarter.
Pure World has 8,244,634 shares of common stock outstanding.
This release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause Pure World'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.