Thursday, 23 May 2013

Key Points From Neptune’s Conference Call

Neptune Technologies and Biorresources
TSX: NTB – NASDAQ: NEPT Basic Shares: 60.0 million Fully Diluted: 67.5 million **************************************

At 9:00am ET today (May 23, 2013) Neptune Technologies held an investor conference call to provide investors with a corporate update.

The call was hosted by Henri Harland, President & CEO of Neptune Technologies, and Andre Godin, CFO.

Here are some additional details that were discussed during the call:

  • Neptune is going to begin reconstruction of its Sherbrooke facility next week.
  • Production is expected to begin at its Sherbrooke plant by the end of its fiscal year (February 28, 2014).
  • $18 – $20 million has been spent on the untouched “expansion”, a third of which remains to be spent.
  • In order to satisfy customers, Neptune has been buying and will continue to buy krill on the open market.
  • The company expects to maintain Q4/F13 numbers until production starts again.
  • In regards to Acasti’s double blind study, the company expects results within the first half of 2014 (calendar).

An archive of the call will be posted to Neptune’s website as soon as possible.