Nutraceutical International has pursued an aggressive acquisition strategy over the last few years—mostly through small deals and now manufacturers dietary supplements, personal care products, and foods such as Solaray, Nature’s Life, Natural Balance and Organix South. Having acquired more than 65 companies since being founded in 1993, Nutraceutical has made impressive strides in the natural product industry.
Bill Gay, chairman and chief executive officer, commented, “Fiscal 2016 second quarter net sales grew by 7.4%, Adjusted EBITDA increased by $1.1M, or 10.8%, and we added $0.06 per share to diluted EPS. Management is pleased with the overall growth and direction of our business and with the gains generated by recent acquisitions. We are hopeful the softness in certain areas of our international business will improve later in the year.
Our February 2016 acquisition of Aubrey Organics in Tampa, Florida will enable us to consolidate certain branded offices and manufacturing operations for our personal care business. Both of these new businesses expand our current branded portfolio of products with many unique offerings for our health and natural food store customers,” he said.
Stock traders appear to be buying into the company’s strategy. The company’s share price on the NASDAQ exchange has risen to more than $23.
They have also made good with their expectations of sales.
Neutrceutical said that net sales for the fiscal 2016 second quarter were $59.5 million, compared to $55.4 million for the same quarter of fiscal 2015. For the second quarter of fiscal 2016, net income was $4.6 million, or $0.49 diluted earnings per share, compared to net income of $4.1 million, or $0.43 diluted earnings per share, for the same quarter of fiscal 2015.
Net sales for the six months ended March 31, 2016 were $115.5 million compared to $108.4 million for the same period of fiscal 2015. For the six months ended March 31, 2016, net income was $8.9 million, or $0.94 diluted earnings per share, compared to net income of $7.4 million, or $0.77 diluted earnings per share, for the same period of fiscal 2015.