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Dated: 1 October 2008
Martek Biosciences Corp says revenues for the third quarter of the fiscal year 2008 were $88.4 million, up 14% from $77.8 million in the same period last year.
Net income was $9.3 million, or $0.28 per diluted share, for the third quarter of fiscal 2008, up 47% compared with $6.1 million, or $0.19 per diluted share, over last year's third quarter.
Says CEO Steve Dubin: "Our core infant formula business grew mainly due to international sales growth. Our margin improvement was primarily the result of process improvements and increased utilization of our manufacturing plants. The sales of DHA to non-infant formula markets are up 38% year-to-date and we expect improvements in the fourth quarter based on an increased number of new product launches planned by our food, beverage and supplement customers.”
The company expects revenues for the full fiscal year 2008 to be between $349 million and $353 million, a projected increase over fiscal 2007 of between 14% and 15%. Net income for the full fiscal year 2008 is projected to be between $35.2 million and $36.2 million.
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(24 December 2008)
Vitiva introduces a new, natural citrus-flavor protection formula of its Inolens rosemary extract line. It offers full protection of citrus flavors and citrus flavored-food and bev...
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CEO of Symrise Gerold Linzbach told the Supervisory Board of Symrise AG that, for personal reasons, he does not intend to extend his contract beyond October 2009. Says Linzbach: “M...
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Cargill is opening two new texturizing sales and customer service offices in Sydney and Melbourne to cater to the recent growth in Australia and New Zealand. Starting January 1, 20...
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(9 December 2008)
Sensient Technologies Corp has announced that Richard F. Hobbs, VP and CFO, and John L. Hammond, VP, secretary and general counsel have been promoted to senior VPs of the company. ...
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(8 December 2008)
Danisco says the EU has adopted its Food Improvement Agents Package (FIAP). The FIAP is a comprehensive set of rules that ensures consistent use of additives and enzymes throughout...
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(8 December 2008)
DSM Food Specialties says PreventASe has been given regulatory approval for its use as a processing aid in Australia and New Zealand. This news follows similar authorization from t...
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Russia's X5 Retail Group has agreed to buy 100 per cent of OOO Agrotorg-Rostov - a franchisee of the group's Pyaterochka chain in the Rostov region - for RUB 400 mln (EUR 10 mln). The sum includes refinancing of debt owed to B.I.N.BANK and trade accounts payable to suppliers and employees.
Rewe is further establishing itself in Russia with the opening of its first Selgros Cash & Carry market in Kotelniki, in the greater Moscow area. It will offer an extensive assortment of food and non-food products at wholesale prices 24 hours per day on more than 10,000 square meters of selling space.
Lidl is stepping up its expansion plans in the UK. In an interview with The Times, Martin Bailie the company's regional director for the Midlands, said that the group expects to open a further 50 stores in 2009. This comes on top of the 49 opened in 2008, which brought the total to 505.
Saigon Co.op, a leading grocery retailer in Vietnam, is set to open a chain of small-scale food outlets in Ho Chi Minh City (HCMC). The Co.op Food outlets will be located in densely populated zones and will sell fresh food and vegetables, according to a report in Vietnam Business Finance.
Russia's largest grocery group, X5 Retail, has signed a deal with A5 pharmacy chain, one of Russia’s leading pharmacy retailers. The partnership agreement grants A5 preemptive rights to rent space adjacent to X5’s food retail stores at commercial market rates, at properties owned or leased by X5.
Wal-Mart has announced it will launch a tender to acquire all the issued and outstanding shares and American Depositary Shares of the Chilean company, Distribución y Servicio D&S S.A.(DYS), giving it a major foothold in the South American country.
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