ChromaDex Corporation, (OTCBB: CDXC) an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries, announced financial results for the first quarter of 2011. On a reported basis and calculated in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP), ChromaDex announced total revenues of approximately $2.5 million and a net loss attributable to common stockholders of $0.02 per share for the three month period ended April 2, 2011.
"First quarter 2011 was a landmark for ChromaDex as we had our largest quarter of revenue in the history of the Company," said Frank Jaksch, CEO and co-founder of ChromaDex. "We are now poised to leverage our unique product and service offerings and, at the same time, capture rapidly accelerating revenue growth related to pTeroPure and other novel ingredients. We expect this strategy to further solidify ChromaDex as a leader in the natural products industry."
Additional Financial Results & Notes
On a reported basis, ChromaDex recorded revenue during the first quarter 2011 of$2,539,245 as compared to $1,937,592 for the same period in 2010, representing year-over-year growth in excess of 31%. The net loss attributable to common stockholders for the thirteen-week period ended April 2, 2011 was $1,156,385 as compared to a net income of $33,742 for the same period in 2010. The net loss in the first quarter 2011 was largely due to an increase in share-based compensation expense related to the stock options that were granted following the May 20, 2010Private Placement. When the net loss is adjusted to exclude the effects of non-cash charges associated with share-based compensation expense, a "non-GAAP" presentation, the net loss for the first quarter 2011 is $419,366, and the loss per share for the first quarter 2011 is $0.01. As of April 2, 2011, cash, cash equivalents, and marketable securities totaled over $2.8 million.
ChromaDex is an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries. The company has an impressive pipeline of new ingredients, including its pTeroPure brand on which it has worldwide, exclusive patent rights.