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19 January 2011

Neptune Technologies & Bioressources Inc. Reports Net Profit for the Third Quarter

Laval, Québec, CANADA – January 13, 2011 – Neptune Technologies & Bioressources Inc. (“Neptune”) (NASDAQ.NEPT – TSX.V.NTB) reports its consolidated financial results for the three and nine-month periods ended November 30, 2010.

Three-month Period Ended November 30, 2010 Financial Results

Consolidated Results

  • Revenue increased by 14% to $4,290,000 for the three-month period ended November 30, 2010, up from $3,758,000 achieved during the corresponding period ended November 30, 2009.
  • Consolidated EBITDA for the three-month period ended November 30, 2010 amounted to $135,000, compared to $440,000 obtained during the corresponding period ended November 30, 2009.
  • Net income reached $1,801,000, or $0.04 per share for the three-month period ended November 30, 2010, compared to a net income of $2,023,000 or $0.05 per share, for the corresponding period ended November 30, 2009.

Nutraceutical Business Results

  • Nutraceutical revenue increased by 15% to $4,322,000, for the three-month period ended November 30, 2010, up from $3,756,000 achieved during the corresponding period ended November 30, 2009.
  • EBITDA from nutraceutical business for the three-month period ended November 30, 2010 amounted to $765,000, compared to $874,000 obtained during the corresponding period ended November 30, 2009.
  • Net income from nutraceutical business reached $1,235,000 for the three-month period ended November 30, 2010, compared to $2,462,000, for the corresponding period ended November 30, 2009.

Nine-month Period Ended November 30, 2010 Financial Results

Consolidated Results

  • Revenue increased by 57% to $12,566,000 for the nine-month period ended November 30, 2010, up from $8,007,000 achieved during the corresponding period ended November 30, 2009.
  • Consolidated EBITDA for the nine-month period ended November 30, 2010 amounted to $1,543,000, compared to a negative $(1,478,000) obtained during the corresponding period ended November 30, 2009.
  • Net earnings increased by $4,048,000 and net income reached $2,552,000, or $0.06 per share for the nine-month period ended November 30, 2010, compared to a net loss of $(1,496,000), or $(0.04) per share, for the corresponding period ended November 30, 2009.

Nutraceutical Business Results

  • Nutraceutical revenue increased by 58% to $12,588,000, for the nine-month period ended November 30, 2010, up from $7,966,000 achieved during the corresponding period ended November 30, 2009.
  • EBITDA from nutraceutical business for the nine-month period ended November 30, 2010 was $3,069,000, compared to a negative $(87,000) obtained during the corresponding period ended November 30, 2010.
  • Earnings from nutraceutical business improved by $3,019,000 and net income reached $2,927,000 for the nine-month period ended November 30, 2010, compared to a net loss of $(92,000), for the corresponding period ended November 30, 2009.

“We are pleased to report continued solid significant growth in revenues within a more competitive market than previous years” stated André Godin, Vice-President, Administration and Finance. “The increase of more than $3,000,000 in EBITDA for nutraceutical business for the nine-month period ended November 30, 2010 over the corresponding period of 2009 is demonstrating the management’s commitment to efficiency and performance.” he added.

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