Neptune Posts 86% Quarterly Revenue Increase

QUEBECNeptune Technologies & Bioressources posted its second quarter results Monday, which included an 86-percent increase in quarterly consolidated revenues. Neptune, a major player in the krill oil market, experienced an increase in nutraceutical revenue by 62 percent to US$14 million for the six-month period ending on August 31, 2012. During the same six-month period, the company experienced an earnings net loss of $6,379,000.

Neptune had a strong and record-breaking fiscal year 2012 and the momentum has kept on in the first and second quarter of fiscal 2013," said André Godin, CFO. Our aggressive policy of volume discount combined with some product reprocessing has contributed to slightly reduce our gross margin percentage for this quarter."

The earnings come in the midst of extensive litigation between Neptune and its competitor Aker BioMarine. Neptune is accusing Aker and other krill oil manufacturers of patent infringement.