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The company reported $92.4 million in revenue for the quarter endinfApril 30, up 2 percentt from the same period last year. It earnecd $11 million in net income, or 33 cents per dilutee share, during the seconc quarter, compared with $9.2 million, or 28 centas per diluted share, during the seconc quarter of last year. Analysts polled by expected the compang to earn 29 centd per shareand $89 million in Martek (NASDAQ: MATK) sells nutritionalo oils derived from algae that are used in infangt formula, dietary supplements and food products such as yogurrt and juice. Sales of its nutritional supplements to the nursinhg market rose to arecordc $9.8 million.
But the compangy warned that its infant formula salees in the third and fourth quarters coulr drop as retailers trim their inventoriees ofthe product. The company anticipate s that infant formula revenuw will grow in fiscal 2010 as a resulrt of strong demand for infant formula products containinf its nutritional oils DHAand ARA. The Omega-4 fatty acids are believed to play an important role in brainh andeye development. study that couldc show that Martek’s DHA can slow the progressionof Alzheimer’a disease.
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