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Natural Alternatives International, Inc. (NAI), headquartered in Carlsbad, California, is a prominent player in the nutritional supplements industry. Established in 1980, NAI specializes in the formulation, manufacturing, and marketing of customized nutritional supplements. The company's unique approach combines clinical research, science-based formulations, and advanced quality assurance testing methodologies to produce superior nutritional products. These are specifically designed to address various health conditions and meet the highest standards.
NAI operates through two primary segments: Private-Label Contract Manufacturing and Patent & Trademark Licensing. The majority of the company's revenue is derived from the Private-Label Contract Manufacturing segment, offering tailored manufacturing services to firms that market and distribute nutritional and healthcare products. The Patent & Trademark Licensing segment earns income through royalty agreements linked to the sale of licensed products, such as their proprietary CarnoSyn® beta-alanine.
In recent developments, NAI temporarily closed its new high-speed powder blending and packaging facility in Carlsbad due to an inventory rebalance by one of its largest customers. Despite this, the company remains optimistic about its long-term growth. For example, CarnoSyn® beta-alanine sales saw a significant increase, showing robust demand for its patented ingredients.
Financially, NAI reported net sales of $35.9 million in the fourth quarter of fiscal year 2023, marking a decrease from the prior year. This decline was primarily due to softened consumer demand and reduced orders as customers adjusted their inventory levels. However, the company saw a marked increase in CarnoSyn® beta-alanine sales, reflecting the strength of its patent and trademark licensing segment.
As of late 2023, NAI's financial health remains solid, with a working capital of $42.3 million and cash reserves of $16.7 million. The company continues to invest in relationship development and product innovation to drive future growth, confident in its ability to navigate current economic headwinds.
NAI's comprehensive partnership approach includes support services such as scientific research, clinical studies, regulatory compliance supervision, and marketing assistance. This holistic service model distinguishes NAI in the industry, making it a go-to partner for businesses looking for customized nutritional product solutions.
Natural Alternatives International, Inc. (NAII) has acquired a 54,154 ft2 manufacturing and warehouse facility in Carlsbad, CA, for $17.5 million, with $10 million financed through a term loan and $7.5 million in cash. This facility will be retrofitted for high-volume powder blending and packaging, enhancing raw material storage capacity to support projected domestic sales growth. CEO Mark A. Le Doux emphasized the strategic importance of this investment, as it aims to improve production capabilities and expand customer service in the growing powder packaged delivery segment.
Natural Alternatives International, Inc. (NAII) has secured a new credit facility with Wells Fargo Bank, increasing its borrowing capacity from $10 million to $20 million. This facility will support ongoing working capital and potential future acquisitions, with a maturity date extended to May 24, 2024. CEO Mark A. Le Doux emphasized the importance of this facility in strengthening NAII's financial position, enabling the company to pursue growth opportunities. The enhanced financial capability reflects NAII's solid balance sheet and successful operations.
Natural Alternatives International (NAII) reported a net income of $1.9 million ($0.30 per diluted share) for Q3 FY2021, reversing a net loss of $4.0 million in Q3 FY2020. Net sales surged 81.8% to $46.3 million, boosted by a significant increase in private-label contract manufacturing sales, which grew 86.2%. For the nine months ending March 31, 2021, net income was $7.8 million compared to a loss of $3.4 million in the previous year. The company expects annualized FY2021 net sales to rise by 45% to 55%, while also maintaining strong cash reserves of $28.1 million.
Natural Alternatives International, Inc. (NAII) has announced a $3.0 million increase to its stock repurchase plan, raising the total authorization to $15.0 million. This plan allows for the repurchase of shares based on market conditions, with 1.6 million shares already acquired. After this increase, $3.2 million remains available for further repurchases. The company's stock buyback strategy aims to enhance shareholder value amid ongoing market dynamics.
Natural Alternatives International, Inc. (NAII) has released an investor presentation aimed at enhancing communication with current and potential shareholders. The presentation is part of a broader initiative to articulate the company's long-term direction and management goals. CEO Mark A. Le Doux highlighted the firm’s plans to engage more with institutional investors and participate in conferences, signaling optimism about upcoming opportunities in their pipeline. The presentation is accessible on their investor relations webpage.
Natural Alternatives International (NAII) reported a significant increase in net income to $3.6 million ($0.57/share) for Q2 FY2021, a notable rise from $0.5 million ($0.07/share) last year. Net sales reached $48.1 million, up 65.2% from $29.1 million. Private-label contract manufacturing soared by 82.5%, whereas CarnoSyn® sales dropped 35.5%, impacted by competition and COVID-19. Year-to-date income stands at $5.9 million ($0.91/share), with expectations of 30% to 50% sales growth for FY2021 and operating income between 5% and 7%. Cash as of December 31, 2020, was $28.6 million.
Natural Alternatives International, Inc. (NAII) announced the full repayment of its outstanding $10 million credit line with Wells Fargo Bank as of February 2, 2021. This credit line was initially secured during the early pandemic uncertainty in March 2020. CEO Mark A. Le Doux emphasized that the strong business environment and increased consumer demand for dietary supplements made this repayment feasible. The line of credit is now available again for future needs through November 2022, reflecting the company’s solid cash flow and financial health.
Natural Alternatives International, Inc. (NAII) reported a net income of $2.3 million, or $0.35 per diluted share, with net sales reaching $39.7 million for the first quarter of fiscal 2021, ending September 30, 2020. This reflects a 36.1% increase in sales compared to the previous year. The company attributed growth to increased private-label contract manufacturing, particularly in immune and wellness products amid the COVID-19 pandemic. However, royalty and licensing revenue from CarnoSyn® beta-alanine declined 15.9%. NAII expects annual sales to rise 30% to 50% in fiscal 2021.
Natural Alternatives International, Inc. (NAII) reported a 16% increase in consolidated net sales for Q4 2020, reaching $35.1 million. However, FY 2020 sales declined 14% to $118.9 million. The company posted a Q4 net income of $1.8 million compared to a loss of $0.02 million in Q4 2019. Net loss for FY 2020 was $1.6 million due to a $4.3 million reserve related to a former customer. A stock repurchase plan was increased by $2 million, totaling $12 million. The outlook for FY 2021 is positive, with expected sales growth.
Natural Alternatives International, Inc. (NAII) has appointed Dr. Nancy Steely as Vice President of Research and Development. Dr. Steely, a seasoned executive with over 20 years of experience in the nutraceutical industry, aims to enhance NAII's research capabilities and develop innovative products. President Ken Wolf highlighted her ability to integrate scientific research with business strategy, fostering a culture of innovation. Dr. Steely previously worked at Olly PBC and other notable companies, and she expresses enthusiasm for collaborating with clients to create compliant, science-based products.
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