Business
Natural Alternatives International, Inc. Announces 2020 Q2 and YTD Results
CARLSBAD, Calif., Feb. 11, 2020 /PRNewswire/ -- Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading formulator, manufacturer and
About this update from Natural Alternatives International, Inc.
[{"type":"text","content":"CARLSBAD, Calif., Feb. 11, 2020 /PRNewswire/ -- Natural Alternatives International, Inc. (\"NAI\") (Nasdaq: NAII), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced net income of $476,000, or $0.07 per diluted share. \nNet sales during the three months ended December 31, 2019 decreased $6.9 million, or 19.3%, from $36.0 million recorded in the comparable prior year period. During the same period, private-label contract manufacturing sales decreased $6.8 million, or 21.6%, from the comparable quarter last year. Second quarter contract manufacturing sales decreased primarily due to lower sales to our largest contract manufacturing customer.\nCarnoSyn® beta-alanine royalty, licensing and raw material sales revenue decreased 2.5% to $4.3 million during the second quarter of fiscal 2020, as compared to $4.4 million for the second quarter of fiscal 2019. \nNet income for the three months ended December 31, 2019 was $476,000, or $0.07 per diluted share as compared to net income of $2.2 million, or $0.31 per diluted share in the second quarter of fiscal 2019.\nNet income for the six months ended December 31, 2019 was $572,000, or $0.08 per diluted share, compared to net income of $4.7 million, or $0.68 per diluted share, for the six months ended December 31, 2018. \nNet sales during the six months ended December 31, 2019 decreased $14.3 million, or 19.7%, from $72.6 million recorded in the comparable prior year period. For the six months ended December 31, 2019, private label contract manufacturing sales decreased $11.9 million, or 19.0%, from the comparable period last year. Contract manufacturing sales for the first six months of fiscal 2020 decreased primarily due to lower sales to our largest customer partially offset by increased sales to other new and existing customers. Sales to our largest contract manufacturing customer declined over 31%. \nCarnoSyn® beta-alanine royalty, licensing and raw material sales revenue during the six months ended December 31, 2019 decreased $2.4 million, or 24.1%, from $9.8 million during the comparable period last year. We believe this decline was impacted by certain customers discontinuing the use of our CarnoSyn® beta-alanine in favor of generic beta-alanine and lower overall consumer demand for our customers' CarnoSyn® products. We expect the re...