Bioactive ingredients and products provider Neptune Technologies & Bioressources Inc. (NEPT, NTB.V) Tuesday said it expects third quarter, 2010 revenue to increase in a range of 39% to 55% from last year.
The company's total revenue forecast for the third quarter is in a range of $3.40 million to $3.80 million, up 39% to 55% from $2.45 million last year.
Total revenue for the nine-month period ended November 30, is expected to be in the range of $7.65 million to $8.05 million, compared to $7.95 million a year ago, representing a decrease of 3.8% to an increase of 1.2%.
Neptune said it has managed to catch up with last year's sales level, despite a second quarter revenue of $1.37 million following the production plant shut down for the completion of the expansion to increase plant capacity.
The company added that now the production plant is running at a steady rate targeting over 90 thousand kg annually, and is currently working to further expand its production capacity to an estimated 110 thousand to 120 thousand kg annually, in order to respond to increased demand and deliver on its volume commitments.
Neptune said that on November 2 it has converted all of its 38.24 million Acasti Pharma Inc. Class C shares into Acasti Class A shares as per the terms of the shares. After all conversions and transfers Neptune owns 28.78 million Acasti Class A shares and 4.95 million Acasti multi-voting Class B shares.
NEPT is currently trading at $2.04, down 0.02%, on the Nasdaq.
NTB.V closed Monday's regular trading at C$2.15 on the Canadian Stock Exchange.
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