ChromaDex Corp. (CDXC)

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ChromaDex Reports 6th Consecutive Quarter of Record Revenue as Q3 Ingredients Sales Climb 104%
By GlobeNewswire, November 12, 2015, 04:10:00 PM EDT
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- Public Company Reaches GAAP Break-Even as 3rd Quarter Revenue Grows 52% to a Record $6.3 Million -

IRVINE, Calif., Nov. 12, 2015 (GLOBE NEWSWIRE) -- ChromaDex Corp. (OTCQX:CDXC), an innovator of proprietary health, wellness, and nutritional ingredients that creates science-based solutions for dietary supplements, food and beverage, skin care, sports nutrition, and pharmaceutical products, announced today record revenue for the third quarter ended October 3, 2015. The report marks the sixth consecutive quarter of record revenue for the Company.


- Results of operations for the three months ended October 3, 2015 -

For the three months ended October 3, 2015 ("Q3 2015"), ChromaDex reported record net sales of $6.3 million, an increase of 52% as compared to $4.1 million for the three months ended September 27, 2014 ("Q3 2014"). This increase was largely due to increased sales in its ingredients business segment, driven by its lead ingredient, NIAGEN® branded nicotinamide riboside. The ingredients segment generated record net sales of $4.1 million for Q3 2015, an increase of 104%, compared to $2.0 million for Q3 2014, and a sequential increase of 22% as compared to Q2 2015.

The core standards and services segment posted sales of $1.9 million for Q3 2015, an increase of 3% as compared to $1.8 million for Q3 2014. Net sales for the scientific and regulatory consulting segment were $265K, a decrease of 10% as compared to $294K for Q3 2014.

The net loss attributable to common stock holders for Q3 2015 was $4K or ($0.00) per share as compared to a net loss of $660K or ($0.01) per share for Q3 2014. This marks the first quarter ChromaDex has moved close to GAAP breakeven since the first quarter of 2010.

Adjusted EBITDA for Q3 2015 was $695K, compared to Adjusted EBITDA of ($152K) for Q3 2014. ChromaDex defines Adjusted EBITDA as net income (loss) adjusted for income tax, interest, depreciation, amortization and non-cash stock compensation costs. The Basic and Diluted Adjusted EBITDA per share for Q3 2015 was $0.01 versus ($0.00) for Q3 2014.

Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, "Our 6th consecutive quarter of record revenue has led to improved overall financial performance, as we have moved to a GAAP break-even as well as posted $695K of Adjusted EBITDA. The financial performance starts to illustrate the scale and earnings leverage in our business model."



Read more: http://www.nasdaq.com/press-release/chromadex-reports-6th-consecutive-quarter-of-record-revenue-as-q3-ingredients-sales-climb-104-20151112-01258#ixzz3rMUaycVf