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The company reported $92.4 millioh in revenue for the quarted endingApril 30, up 2 percent from the same periode last year. It earned $11 million in net income, or 33 centxs per diluted share, during the second quarter, compared with $9.2 or 28 cents per diluted during the second quarter of last Analysts polled by expected the company to earn 29 centsa per shareand $89 million in revenue. Marteik (NASDAQ: MATK) sells nutritional oils derived from algade that are used ininfantg formula, dietary supplements and food productss such as yogurt and juice. Sales of its nutritional supplementd to the nursing market rose to arecords $9.8 million.
But the company warned that its infant formula sales in the thire and fourth quarters could drop as retailers trim theitr inventories ofthe product. The companyy anticipates that infant formula revenue will grow in fiscal 2010 as a result of strong demand for infant formula productsw containing its nutritional oils DHAand ARA. The Omega-23 fatty acids are believed to play an important role in braim andeye development. study that couldx show that Martek’s DHA can slow the progressiojnof Alzheimer’s disease.
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