Naturade, Inc. Announces Record Earnings And Sales For First Fiscal Quarter Of 1997
PARAMOUNT, Calif., Jan. 29, 1997 - Naturade, Inc. (OTC Bulletin Board: NRDC) announced today that it had achieved
record first quarter 1997 earnings and sales. For the period ended December 31, 1996, the Company's sales increased 73
percent to $3,194,943 compared to sales of $1,843,847 in the same 1995 period. Earnings for the period increased to
$277,875 or $.10 per common & common equivalent share compared to a loss of $19,424 or ($.01) per common & common
equivalent share for the 1995 period. The record results for the period reflect strong activity in the Company's domestic
branded business as well as growth in the international and private label operations.
Shareholders' equity has increased to $1,549,904 at December 31, 1996 from $875,818 at December 31, 1995.
Naturade, Inc. also announced that it has reached an agreement in principle to acquire substantially all of the assets of
Performance Nutrition, Inc., a company which markets specialty nutritional products. Performance Nutrition, Inc. is
currently operating pursuant to Chapter 11 of the Bankruptcy Code. The contemplated transaction is subject to the execution
of definitive agreements, approval of the Bankruptcy Court and other customary conditions.
The Company also announced that J. Wesley Burgar had been appointed Senior Vice President. Mr. Burger has over fifteen
years experience in the natural foods business including positions of Divisional President of Tree of Life West and
Divisional President of Midwest Natural Foods. Mr. Burgar will assume operational assignments with an emphasis on
sales, marketing and new product development.
Naturade, Inc. was established in 1926 as a manufacturer and distributor of nutritionally formulated products. The
Company's product line includes protein powders, energy supplements, herbal supplements, vitamin supplements and skin
and hair care products.
First Quarter Results
$1,843,847 Net Income
$277,875 ($19,424) Common & Common
Equivalent Shares 2,862,437 2,854,913
Earnings Per Share $0.10
SOURCE Naturade, Inc./CONTACT: Allan Schulman, President of Naturade, Inc., 310-531-8120/