Third quarter results were released today. Nothing too exciting, but nice to see they're breaking even now. Dr. Portman says royalties from bottled Accelerade should start coming in during 2007....and Satiatrim will be launched early in the new year too. I think this could shape-up to be a nice long-term growth story from here.
PacificHealth Laboratories, Inc. Announces 3rd Quarter Results
Wednesday November 1, 9:00 am ET
Third Quarter Revenues Increased 6% Year-Over-Year
Reports Significant Improved Operating Results
MATAWAN, N.J.--(BUSINESS WIRE)--PacificHealth Laboratories, Inc. (OTCBB: PHLI - News), an innovative nutrition technology company, today reported third quarter and nine month 2006 results. For the quarter ended September 30, 2006, revenues increased 6% to $1,774,130 compared to $1,669,444 in the same period in 2005. Net income applicable to common stockholders for the quarter was $54,184, or $0.00 per basic and fully diluted share, compared to a net loss applicable to common stockholders of ($159,959), or ($0.02) per basic and fully diluted share, for the same period in 2005.
Dr. Robert Portman, President and CEO of PacificHealth said, "In the third quarter, we saw an increase in revenues but, more importantly, we showed a net operating profit compared to a significant net operating loss for the same period in 2005. Our goal is to show an operating profit for the year. Starting in 2007, I anticipate strong growth from our sports nutrition product line resulting from the launch of ACCELERADE® Ready-To-Drink by Cadbury Schweppes Americas Beverages, new products that we will launch in the first quarter and significant new initiatives involving retail and web-based sales."
Dr. Portman continued, "We continue to make excellent progress on the launch of SATIATRIM®, our unique weight loss product that reduces appetite by stimulating the body's natural satiety peptides. SATIATRIM will be launched in three flavors: chocolate, vanilla and mixed berry and will have a suggested retail price of $39.95 for 27 servings. We recently completed an open trial that demonstrated significant weight loss over a two-week period and a reduction in feelings of hunger during the course of the day. The product will only be available through our new website which will be operational in December. In addition to providing extensive product information, the website will offer a number of innovative interactive tools, enabling consumers to build their own meal plan and help set their weight loss goals."
For the nine-month period ended September 30, 2006, revenues increased 8% to $5,096,732 compared to revenues of $4,709,487 for the same period in 2005. Net income applicable to common stockholders was $2,641,878, or $0.20 per fully diluted share, for the nine-months ended September 30, 2006 compared to a net loss applicable to common stockholders of ($1,296,988), or ($0.13) per basic and fully diluted share, for the same period in 2005. Net income in the first nine months of 2006 included approximately $2,622,000 from a gain on the sale of patents and technology, net of tax effects, to Mott's LLP, a division of Cadbury Schweppes.
