Tuesday, 15 January 2013

Neptune's Releases 3rd Quarter – On Track For Recovery!



Neptune Technologies & Bioressources
TSX: NTB - NASDAQ: NEPT
Basic Shares: 60.0 million
Fully diluted: 67.5 million

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The key piece of information from Neptune in this morning’s release of Q3/F13 (Nov. 30) results was news that it has received a $6 million insurance payment as a result of last November’s tragedy that destroyed its Sherbrooke, Quebec manufacturing facility. This first payment was much needed to allay investor concerns as it speaks in part to the issue of how insurance companies were viewing potential liability.

Nutraceutical Business – Three month financial results

  • Nutraceutical revenues increased by 29% to $6,603,000 for the three-month period ended November 30, 2012, up from $5,120,000 achieved during the corresponding period ended November 30, 2011.
  • Adjusted EBITDA from nutraceutical business for the three-month period ended November 30, 2012 decreased to $432,000, down from $1,081,000 obtained during the corresponding period ended November 30, 2011.
  • Net loss from nutraceutical business reached $10,883,000 for the three-month period ended November 30, 2012, compared to a net income of $869,000 for the corresponding period ended November 30, 2011.
In the news release, Neptune explains the loss incurred during the quarter was mainly attributed to the “estimated impairment losses and costs related to the explosion…” However, Andre Godin, CFO for Neptune explains that, “From now on, amounts received from the insurance will offset the impairment losses.”

Consolidated (includes NeuroBioPharm & Acasti) – Three month financial results

  • Revenues increased by 37% to $7,027,000 for the three-month period ended November 30, 2012, up from $5,120,000 achieved during the corresponding period ended November 30, 2011.
  • Adjusted consolidated EBITDA for the three-month period ended November 30, 2012 was ($629,000), compared to ($743,000) obtained during the corresponding period ended November 30, 2011.
  • Earnings for the three-month period ended November 30, 2012 resulted into a net loss of $12,437,000, compared to a net loss of $1,433,000 for the corresponding period ended November 30, 2011.

In addition to today’s announcement, BioMedReports issued an article titled “Anticipating Neptune’s Big Bounce to Continue”. The article begins by mentioning the Neptune conference call, which is scheduled for Thursday January 17th at 4:30pm EST and notes that “management sees this call as an ‘opportunity’, and we expect that we will find management is making progress on their action plan on most if not all fronts.” To view the article in its entirety click here: http://finance.yahoo.com/news/anticipating-neptunes-big-bounce-continue-120100287.html


To access the January 17th conference call by phone within Canada & the U.S., the llfree number is 1877-380-5664. Outside Canada and the U.S., dial 1631-813-4882.

Conference call details:
Conference Topic: Neptune Technologies & Bioressources Third Quarter 2012 Earnings Call
Conference ID: 86940717

Management will accept questions related to the financial results and its operations by telephone during the Q&A period at the end of the presentation. Questions can also be forwarded in advance or during the presentation to f.harland@neptunebiotech.com.

An archived recording of the conference call will be available on Neptune's website (www.neptunebiotech.com) shortly after the call.