NutraCea Q1 Loss Broadens to $6.8 Million
Posted on: Friday, 16 May 2008, 03:00 CDT
NutraCea has reported a net loss of $6.8 million for the first quarter of 2008, compared to a net loss of $247,000 for the same quarter of 2007.
The increase in loss was primarily due to a $4.5 million hike in operating expenses and a decrease in other income and expenses of $1.4 million.
Consolidated net revenues rose 155% to $5.1 million for the quarter compared to consolidated net revenues of $2 million for the same period of 2007. The $3.1 million increase was primarily due to a $860,000 increase in sales of products produced in the US, an increase of $17,000 in royalty revenues and $2.2 million in sales from the company's Irgovel subsidiary in Brazil.
Brad Edson, president and CEO of NutraCea, said: "We expect to see continued top line growth quarter over quarter for the balance of the year as additional production comes on line."
Source: Datamonitor
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