Martek Trims Net Loss in 2Q

Martek Trims Net Loss in 2Q

COLUMBIA, Md.--Martek Biosciences Corp. (NASDAQ:MATK) rodeincreased revenues and reduced research and development costs to a trimmed netloss for its second quarter ended April 30. Net sales reached $4.0 million, a69-percent increase over $2.4 million sold in the same period last year. Grossmargin slipped by almost six points, but operating expenses fell to $5.2 millionfrom $5.5 million spent in the same quarter a year ago. Net loss narrowed to$3.2 million or $.17 per share from $4.1 million or $.24 per share in theequivalent quarter in 2000.

Company management reported that nutritional product sales jumped by almost$2 million or 172 percent and should continue to grow. "Recent positivenews from the U.S. Food and Drug Administration (FDA), coupled with continuedsuccess by our licensees overseas, should continue Martek's commercialtake-off," exalted Henry Linsert, Jr., chief executive officer.

Management noted that while research costs decreased this quarter, they arelikely to remain high and could even increase in future quarters. Also, $52,000in start-up costs related to increasing production of DHA and ARA oils arelikely to rise in the future.