News
Neptune sees revenues rise
9 Dec 2015Biotechnology/omega-3 company Neptune has announced that it expects revenue from sales of $5.1 million for its third quarter. This represents a 16% increase over the second quarter ending August 31, 2015
Biotechnology/omega-3 company Neptune – whose manufacturing plant was destroyed by fire in 2012 - has announced that it expects revenue from sales of $5.1 million for its third quarter. This represents a 16% increase over the second quarter ending August 31, 2015, reflecting, the company says, a growing and more diverse customer base.
"These preliminary results are in line with estimates provided in our most recent business update, with our closing cash balance coming in at the higher end of our targeted range," said Jim Hamilton, President and CEO of Neptune. "Furthermore, production levels at our Sherbrooke plant continue to exceed our expectations and we are pleased with the traction being made with Project Turbo, a company-wide initiative to drive efficiencies and heighten operating performance. We expect this to have a meaningful impact on margins in upcoming quarters."