ChromaDex Reports Third Quarter 2016 Financial Results

-Company Reports Revenue of $21.2 million for first 9 months 2016 and is on track for another record revenue year -Company Reports Revenue of $5.0 million for Q3 2016 -Accelerating trend of peer-reviewed research validating NR continued during Q3

IRVINE, Calif., Nov. 10, 2016 (GLOBE NEWSWIRE) -- ChromaDex Corp. (NASDAQ:CDXC), an innovator of proprietary health, wellness and nutritional ingredients, that creates science-based solutions for dietary supplement, food and beverage, skin care, sports nutrition, and pharmaceutical products, announced today financial results for the third quarter ended October 1, 2016. 

Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, "We continued to make great progress during the third quarter with new published research, as well as clinical data, further demonstrating the importance of Nicotinamide Riboside ("NR") in maintaining human health. ChromaDex has the exclusive, worldwide rights to manufacture and sell NR as an ingredient under the trade name NIAGEN ® . Given our early stage of market development for NIAGEN ® , and our current high concentration of sales to a small number of early-adopting customers, some fluctuation in quarterly sales of NIAGEN ® is to be expected. We anticipate that these fluctuations will smooth out over time.  Exclusive of this quarterly variability, sales trends remained consistent across the remainder of our business during the quarter. Revenue for the 9 months ended October 1, 2016 was $21,169,000, and we are tracking towards another record revenue year.  For fiscal year 2015, total revenue was $22,014,000."

Jaksch continued, "We continue to be extremely excited about the accelerating level of peer-reviewed published research validating NR as a highly effective NAD+ precursor, which is critical for healthy aging. The first NR human data was published in the esteemed journal Nature Communications.  The progress on our 2 nd human trial and several supportive pre-clinical findings published during the third quarter.   All of these publications reflect our highly effective R&D efforts and the strong interest in the global scientific community to study NR. Additionally, we continued to build our proprietary ingredient portfolio with the launch of AnthOrigin ."

Results of operations for the three months ended October 1, 2016

For the three months ended October 1, 2016 ("Q3 2016"), ChromaDex reported net sales of $5.0 million, a decrease of 20% as compared to $6.3 million for the three months ended October 3, 2015 ("Q3 2015").  This decrease was largely due to sales fluctuation in its ingredients business segment during Q3 2016. The ingredients segment generated net sales of $2.7 million for Q3 2016, a decrease of 36%, compared to $4.1 million for Q3 2015. 

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