Natural Alternatives International, Inc. Announces Fiscal 2015 Results

SAN MARCOS, Calif., Sept. 18, 2015 /PRNewswire/ -- Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced net income of $3.3 million, or $0.49 per diluted share, on net sales of $79.5 million for the fiscal year ended June 30, 2015. 

Fiscal 2015 net sales from contract manufacturing activities increased $2.3 million or 3.5% as compared to the prior fiscal year due primarily to higher sales volumes of existing products in existing markets and new product sales to new customers. CarnoSyn® beta-alanine royalty and licensing revenue increased 67.9% to $9.1 million during fiscal 2015 as compared to $5.4 million for fiscal 2014. The increase in CarnoSyn® beta-alanine revenue was primarily due to the increase in raw material sales as a result of taking over the direct sale and distribution of CarnoSyn® beta-alanine effective April 1, 2015. Net sales from our branded products declined 39.8% to $698,000 in fiscal 2015 as compared to fiscal 2014 due to the discontinuation of this product line effective December 31, 2014.

Net income for fiscal 2015 was $3.3 million, or $0.49 per diluted share, as compared to net income of $2.0 million for fiscal 2014, or $0.29 per diluted share.

Net sales for the fourth quarter ended June 30, 2015 increased 6.6% to $22.6 million as compared to $21.2 million for the prior year period. The increase in net sales during the fourth quarter was primarily related to increased beta-alanine raw material sales. Net income in the fourth quarter of fiscal 2015 was $1.0 million or $0.15 per diluted share, as compared to net income of $1.1 million or $0.16 per diluted share in the fourth quarter of fiscal 2014.

As of June 30, 2015, NAI had cash and cash equivalents of $18.6 million and working capital of $34.5 million compared to $19.5 million and $31.3 million, respectively, as of June 30, 2014. As of June 30, 2015, we had no debt outstanding and $5.5 million available under our working capital lines of credit.

Mark A. LeDoux, Chairman and Chief Executive Officer, stated, "Excellent teamwork and execution across the business units contributed to growth in revenues and earnings for our shareholders.  Our continued emphasis on quality and our commitment to maintaining and expanding our multiple independent quality certifications has generated increased confidence from our clients, and we are excited about the opportunities before us to expand our footprint around the globe. 

"The work that we continue to do in research with CarnoSyn® beta-alanine is generating widespread support in the research community, and that is translating into growing sales opportunities in varied domestic and international market channels.  We are completing an expansion of our facilities in Switzerland to accommodate burgeoning demand, and have taken steps in our North American operations to upgrade and streamline our processes with an eye to greater efficiencies and improved return on investment."

NAI, headquartered in San Marcos, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to our clients including: scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review and international product registration assistance. For more information about NAI, please see our website at http://www.nai-online.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are not historical facts and information. These statements represent our intentions, expectations and beliefs concerning future events, including, among other things, our future revenue profits and financial condition, our ability to maintain our patents, generate revenues from the commercialization of our patents and trademarks, secure compliance with our intellectual property rights, and develop, maintain or increase sales to new and existing customers, as well as future economic conditions and the impact of such conditions on our business. We wish to caution readers these statements involve risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. NAI's financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by us with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.

CONTACT – Kenneth Wolf, Chief Operating and Chief Financial Officer, Natural Alternatives International, Inc., at 760-736-7700 or [email protected]

Web site: http://www.nai-online.com

SOURCE Natural Alternatives International, Inc.

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