Nutri Pharmaceuticals Research Inc. (NPRI) reported first quarter 2005 results from operations. Sales approximated US$421,000, compared to $290,000 in first quarter of the prior year. Gross profit approximated $339,000 compared to $207,000 and operating expenses approximated $281,000 over $179,000 last year. Overall net income approximated $42,000 compared to $11,000 in the same period the prior year.
Commenting on the results, Godfrey Yew, chief executive officer and president of NPRI, said in a press statement: "We are thrilled to have concluded our best quarter results. Our performance this quarter reflects the sustained momentum we generated from our business development efforts during 2005. We have negotiated more favorable contracts and have been able to reduce our overall operating expenses."
NPRI Inc. provides a range of powdered oils for functional food, food supplement, dietary supplement, cosmetics, pet food and animal feed applications. The company was awarded the Nutrition Business Journal "Product Merit Award" for its patent-pending O2P Powderization Process, which converts most edible oils, gels or pastes into a free-flowing powder without affecting the isomeric structure, fatty acid profile, color, taste or aroma of the base oil.