Business
Natural Alternatives International, Inc. Announces 2022 Q2 and YTD Results
-- $37.7 million Net Sales, $1.8 million Net Income, $0.30 diluted EPS CARLSBAD, Calif., Feb. 9, 2022 /PRNewswire/ -- Natural Alternatives International, Inc.
About this update from Natural Alternatives International, Inc.
[{"type":"text","content":"-- $37.7 million Net Sales, $1.8 million Net Income, $0.30 diluted EPS\n\n\n CARLSBAD, Calif., Feb. 9, 2022 /PRNewswire/ -- Natural Alternatives International, Inc. (\"NAI\") (Nasdaq: NAII), a leading formulator, manufacturer, and marketer of customized nutritional supplements, today announced net income of $1.8 million, or $0.30 per diluted share, on net sales of $37.7 million for the second quarter of fiscal year 2022 compared to net income of $3.6 million, or $0.57 per diluted share, in the second quarter of the prior fiscal year. \nNet sales during the three months ended December 31, 2021, decreased $10.4 million, or 21.5%, to $37.7 million as compared to $48.1 million recorded in the comparable prior year period. During the same period, private-label contract manufacturing sales decreased 25.7% to $33.7 million. Private-label contract manufacturing sales decreased primarily due to a 48% reduction in sales to our largest customer, combined with supply chain and labor constraints that negatively affected our production capacity during the quarter. Sales backlog for the quarter ended December 31, 2021 exceeded $12.0 million primarily related to supply chain, labor shortages, and logistical constraints. \nCarnoSyn® beta-alanine royalty, licensing and raw material sales revenue increased 46.9% to $4.1 million during the second quarter of fiscal year 2022, as compared to $2.8 million for the second quarter of fiscal year 2021. The increase in patent and trademark licensing revenue during the second quarter of fiscal 2022 was primarily due to increased shipments to existing customers, combined with sales to new customers, and higher average sales prices. We believe increased sales are largely related to athletic activities and gyms reopening in accordance with easing COVID-19 restrictions across the USA as compared to significant restrictions in such activities in the first and second quarters of fiscal 2021.\nNet income for the six months ended December 31, 2021 was $5.1 million, or $0.81 per diluted share, compared to net income of $5.9 million, or $0.91 per diluted share, for the six months ended December 31, 2020. \nNet sales during the six months ended December 31, 2021 decreased $11.7 million, or 13.4%, from $87.8 million recorded in the comparable prior year period. For the six months ended December 31, 2021, private-label ...