Shares of Martek Bioscience (MATK) jumped 13% in pre-market trading after the company raised Q1 revenue guidance.
From the 8-K discussion last night: “Martek’s revenues for the first quarter of fiscal 2006 are expected to be between $62-$63 million compared to previously projected first quarter revenues of $58-$59 million… As previously disclosed, in February 2005, we entered into a DHA license and supply agreement with a major consumer packaged goods company… Based on recent discussions with the food company and progress to date on these development efforts, Martek currently believes that, while subject to final product selection, food formulation and consumer testing, the food company now projects that the initial product launch of a food containing Martek DHA will take place in 2007.
In addition, Martek expects that another major consumer packaged goods company will be announcing and making the commercial introduction of a consumer food/ beverage product containing Martek’s DHA in the first quarter of calendar 2006…”