LAVAL, Quebec, Sept. 11, 2012 (GLOBE NEWSWIRE) -- Neptune Technologies & Bioressources Inc. ("Neptune") (Nasdaq:NEPT) (TSX:NTB) today provided revenue guidance for the second quarter of Fiscal 2013 ended August 31, 2012.
Neptune management is confident that second quarter revenues will be in the range of $7.5 million to $8 million compared to $4.3 million for the second quarter ended August 31, 2011. This represents an increase of 72% to 84%.
First half revenues for Fiscal 2013 will be in the range of $13.6 million to $14.1 million compared to $8.6 million in revenues reported for the first half of Fiscal 2012.''The Company continued to thrive in the second quarter, with our revenues far surpassing the revenues reported during last year's second quarter. The quality of Neptune's krill oil products, aggressive sales strategy, greater consumer awareness and our strong patent portfolio are the catalysts for greatly accelerated sales,'' said André Godin, CFO. "Neptune's plant expansion is on schedule with completion expected by the first quarter of calendar 2013. The annual production capacity increase upon completion to 300,000kg of krill oil from 150,000kg will be more than welcome. Neptune continues to take a strategic approach to growth and structure key long-term relationships with distributors,'' said Frederic Harland, Director of Finance. About Neptune Technologies & Bioressources Inc. Neptune is an industry-recognized leader in the innovation, production and formulation of science-based and clinically proven novel phospholipid products for the nutraceutical and pharmaceutical markets. The Company focuses on growing consumer health markets including cardiovascular, inflammatory and neurological diseases driven by consumers taking a more proactive approach to managing health and preventing disease. The Company sponsors clinical trials aimed to demonstrate its product health benefits and to obtain regulatory approval for label health claims. Neptune is continuously expanding its intellectual property portfolio as well as clinical studies and regulatory approvals. Neptune's products are marketed and distributed in over 20 countries worldwide.