Chromadex sees sales rise 51%24 Mar 2015
Natural products company ChromaDex has announced its financial results for the year ended January 3, 2015. For the year ended January 3, 2015, ChromaDex reported net sales of $15.3 million, an increase of 51% as compared to$10.2 million for the year ended December 28, 2013. This increase was largely due to increased sales in its ingredients business segment, led by its NIAGEN branded […]
For the year ended January 3, 2015, ChromaDex reported net sales of $15.3 million, an increase of 51% as compared to$10.2 million for the year ended December 28, 2013. This increase was largely due to increased sales in its ingredients business segment, led by its NIAGEN branded nicotinamide riboside. The ingredients segment generated net sales of $6.9 million for FY 2014, an increase of 182%, compared to $2.4 million for FY 2013.
The core standards and services segment also posted a 13% growth as it generated net sales of $7.5 million for FY 2014, compared to $6.6 million for FY 2013.
Net sales for the scientific and regulatory consulting segment decreased by 16%, from $1.1 million for FY 2013 to $969K for FY 2014, as fewer consulting projects were completed during FY 2014.
The net loss attributable to common stock holders for FY 2014 was $5.4 million or ($0.05) per share as compared to a net loss of $4.4 million or ($0.04) per share for FY 2013.
“2014 was an important inflexion point for ChromaDex,” said Frank Jaksch, Jr., CEO and co-founder of ChromaDex. “We saw robust sales growth in our ingredients segment, as well as increased inclusion of our patented ingredients in a growing number of consumer products. We are happy to report that we expect these trends to continue throughout 2015.”
“We recently announced that the initial results of the first human clinical study for the company’s NIAGEN nicotinamide riboside (NR) had met its primary endpoint, demonstrating that a single dose of NR resulted in statistically significant increases in the co-enzyme nicotinamide adenine dinucleotide (NAD+) in healthy human volunteers. We expect to initiate further human studies of NR in 2015. We also expect an increase in published studies from numerous collaborating research institutes that will advance the understanding of NR mechanisms of action and potential health benefits.”