Business
Natural Alternatives International, Inc. Announces 2022 Q1 Results
-- 2022 Q1: $38.3 million Net Sales, $3.3 million Net Income, $0.51 diluted EPS CARLSBAD, Calif., Nov. 9, 2021 /PRNewswire/ -- -Natural Alternatives
About this update from Natural Alternatives International, Inc.
[{"type":"text","content":"-- 2022 Q1: $38.3 million Net Sales, $3.3 million Net Income, $0.51 diluted EPS\n\n\n CARLSBAD, Calif., Nov. 9, 2021 /PRNewswire/ -- -Natural Alternatives International, Inc. (\"NAI\") (Nasdaq: NAII), a leading formulator, manufacturer, and marketer of customized nutritional supplements, today announced net income of $3.3 million, or $0.51 per diluted share, on net sales of $38.3 million for the first quarter of fiscal year 2022 compared to net income of $2.3 million, or $0.35 per diluted share, in the first quarter of the prior fiscal year. \nNet sales during the three months ended September 30, 2021 decreased $1.4 million, or 3.5%, to $38.3 million as compared to $39.7 million recorded in the comparable prior year period. During the same period, private-label contract manufacturing sales decreased to $33.6 million, a 9.3% decrease from the comparable quarter last year. Private-label contract manufacturing sales decreased primarily due to a 45% decrease in sales to our largest customer primarily associated with their European markets. This sales decline was largely offset by increased sales to new and existing customers including significant sales from a new customer operating in the direct-to-consumer marketplace. Sales backlog for the quarter ended September 30, 2021 exceeded $8.0 million and was primarily related to supply chain and logistical constraints. \nCarnoSyn® beta-alanine royalty, licensing and raw material sales revenue increased 77.1% to $4.7 million during the first quarter of fiscal year 2022, as compared to $2.7 million for the first quarter of fiscal year 2021. The increase in patent and trademark licensing revenue during the first quarter of fiscal 2022 was primarily due to increased shipments to existing customers related to athletic activities and gyms reopening in accordance with easing COVID-19 restrictions across the USA as compared to significant restrictions in athletic activities in the first quarter of fiscal 2021 combined with sales to new customers and higher average sales prices.\nBased on our current sales order volumes, backlog and forecasts we have received from our customers; we now anticipate our fiscal year 2022 consolidated net sales will increase between 7.0% and 10.0% as compared to fiscal year 2021. We also now anticipate we will generate operating income between 10.0% and 13.0% of net s...