Ester-E development leads to losses for Zila
development of Ester-E as the main reason for a net loss of of $1.6
million ($0.03 per diluted common share) in its third quarter
results compared to a loss of $639 thousand, ($0.01 per diluted
common share) for the same period last year.
In the same results, which saw revenue rise to $12.7 million from $12.4 million, Zila also noted that the domestic sales of Ester-C - a form of vitamin C marketed as effective for 'whole body protection' - had increased by 22 per cent.
"We believe that the investments we have made this year will drive aggressive growth in 2005 and beyond," said Doug Burkett, the chairman, president and CEO of Zila. He was also keen to draw attention to the fact that the " business operated profitably when the biotechnology investment is excluded."
Net revenues for the nutraceuticals business unit for the period ending 30 April 2004 increased by 4 per cent to $8.5 million compared to $8.1 million in April 2003. This increase was primarily due to a growth in the sales of Ester-C "driven principally by increased radio and television advertising in our continuing strategy of brand development," said the company in a statement.
Zila's main aim continues to be to increase its range of nutraceutical and pharmaceutical products through the branding and marketing of existing products and the launching of new products such as Ester-E, the vitamin E product, which is purported to have advantages in absorption and in the support of cardiovascular health.
