ChromaDex Corp. (CDXC)

[oldguy]

PRNewswire/ -- ChromaDex® Corp. (CDXC), an innovative natural products company that provides proprietary, ingredients and science-based solutions to the dietary supplement, food and beverage, cosmetic and pharmaceutical industries, announced today the financial results for the quarter ended September 27, 2014.

For the three months ended September 27, 2014 ("Q3 2014"), the Company reported net sales of $4,139,710, an increase of approximately 52% as compared to $2,718,207 for the three months ended September 28, 2013 ("Q3 2013"). This increase was largely due to increased sales in the proprietary ingredient segment, which grew to $2,031,250, an increase of 160% as compared to the sales of $780,489 in Q3 2013. The proprietary ingredient segment has grown 141% year-to-date as compared to 2013.

The net loss attributable to common stock holders for Q3 2014 was $659,653 or ($0.01) per share as compared to a net loss of $1,250,263 or ($0.01) per share for Q3 2013. The non-cash, stock-based compensation expense related to stock options and other stock-based compensation in Q3 2014 was $431,451. Excluding non-cash, share-based compensation expense, which is a "non-GAAP measure," would have the effect of decreasing the Company's net loss for the three months ended September 27, 2014 to $228,202. As of September 27, 2014, cash, cash equivalents and marketable securities totaled approximately $1,203,758.

In September 2014, ChromaDex announced that it closed on a $5.0 million growth capital debt financing from Hercules Technology Growth Capital. The financing will provide ChromaDex with additional working capital to support its rapidly-growing ingredient business and accelerate the Company's research and development efforts.