Omni Details Sales and EBITDA Gains in 2Q

Omni Details Sales and EBITDA Gains in 2Q

LOS ANGELES--Omni Nutraceuticals (NASDAQ:ZONE) reported increased sales and EBITDA (earnings before income taxes, depreciation and amortization) for its second quarter 2000. Revenues hit $9.6 million, 20-percent higher than sales from the same period last year. EBITDA stretched to $.02 million compared to a loss of $2.2 million in second quarter 1999 and a $5.5 million loss for first quarter 2000.

"The second quarter is the first full quarter to enjoy the benefits of our aggressive strategy to slash unnecessary costs and improve sales and productivity," said Klee Irwin, who rejoined the company as chief executive officer in March 2000. "We marshaled a EBITDA turnaround of over $5.5 million in our team's first 90 days." He noted that the company introduced new products and consolidated acquisitions into its Internet division.