Business
Natural Alternatives International, Inc. Announces Fiscal Year 2020 and Q4 Results
-- Q4 Fiscal 2020 Net Sales Increase 16% as Compared to Q4 of Fiscal 2019 -- Q4 Fiscal 2020 Net Income and Diluted EPS Increase Significantly CARLSBAD,
About this update from Natural Alternatives International, Inc.
[{"type":"text","content":"-- Q4 Fiscal 2020 Net Sales Increase 16% as Compared to Q4 of Fiscal 2019\n -- Q4 Fiscal 2020 Net Income and Diluted EPS Increase Significantly\n\n\nCARLSBAD, Calif., Sept. 21, 2020 /PRNewswire/ -- Natural Alternatives International, Inc. (\"NAI\") (Nasdaq: NAII), a leading formulator, manufacturer and marketer of customized nutritional supplements, today reported financial operating results for the fourth quarter and fiscal year ended June 30, 2020. \nConsolidated net sales during the three months ended June 30, 2020, increased $4.8 million, or 16%, from $30.3 million recorded in the comparable prior year period. For the quarter ended June 30, 2020, private-label contract manufacturing sales increased $5.7 million, or 21%, from the comparable quarter last year. CarnoSyn® beta-alanine licensing and raw material sales decreased 28% to $2.3 million during the fourth quarter of fiscal year 2020, as compared to $3.2 million for the fourth quarter of fiscal 2019. Net income was $1.8 million, or $0.27 per diluted share, for the fourth quarter of fiscal year 2020, compared to a net loss of $0.02 million, or $0.03 per diluted share, in the fourth quarter of fiscal year 2019.\nConsolidated net sales during fiscal 2020 decreased $19.4 million, or 14%, from $138.3 million recorded in fiscal 2019. For fiscal 2020, private-label contract manufacturing sales decreased $15.3 million, or 13%, from the comparable period last year. A majority of this decline occurred during the first nine months of fiscal 2020 while the fourth quarter of fiscal 2020 included a year over year increase. \nCarnoSyn® beta-alanine licensing and raw material sales during fiscal 2020 decreased $4.1 million, or 25%, from $16.7 million during fiscal 2019. This decrease was due in part to lower overall consumer demand for our customers' CarnoSyn® products, which included the negative impact COVID-19 had on the sports nutrition industry in the latter part of fiscal 2020 due to the shutdown of athletic activities and gyms across the USA. \nFor fiscal year 2020, we had a net loss of $1.6 million, or $0.25 per diluted share, compared to net income of $6.5 million, or $0.92 per diluted share, for fiscal 2019. Our results for fiscal 2020 were negatively impacted by a non-cash $4.3 million accounts receivable and inventory reserve related to a former customer.\nBased on our curre...