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Martek and Hain Celestial Sign Exclusive Supply Agreement

Martek Biosciences Corporation and The Hain Celestial Group, Inc. have entered into a license and supply agreement whereby Martek will serve as the exclusive DHA and ARA supplier for all Hain Celestial infant formula products in the United States. The companies also announced that they are in discussions regarding the potential expansion of this relationship into other food and beverage products. Martek produces DHA, a vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid) and ARA (arachidonic acid), an omega-6 fatty acid. Hain Celestial recently unveiled a new infant formula as part of the Earth’s Best brand, the leading brand of organic baby and toddler food sold in natural food stores and the fastest growing organic baby food brand in grocery stores. Earth’s Best Infant Formula meets the requirements of the U.S. Food and Drug Administration for infant formula and is produced without the use of antibiotics, genetically engineered ingredients, or artificial flavors, colors or preservatives. In addition, Earth’s Best Infant Formula will contain levels of DHA and ARA that have been shown through research to optimize brain and eye development. Hain Celestial chose Martek since Martek’s vegetarian DHA and ARA are consistent with Hain Celestial’s commitment to provide […]

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American Superconductor Reports 1Q Results

American Superconductor Corporation (NASDAQ: AMSC), has reported financial results for its fiscal first quarter ended June 30, 2006. Revenues for the first quarter of fiscal 2007 were $14.0 million, and the net loss was $6.7 million, or $0.20 per share. This net loss includes approximately $800,000 of stock-based compensation expense, including stock option expenses for the first time in connection with the company’s adoption of FAS 123 on April 1, 2006. This compares with approximately $100,000 of stock-based compensation expense in the first quarter of the prior fiscal year. Revenues for the first quarter of the previous fiscal year were $12.2 million and the net loss was $5.6 million, or $0.17 per share. The company ended the first quarter of fiscal 2007 with no debt and $55.4 million in cash, cash equivalents and short-term investments compared with $65.7 million on March 31, 2006. The company expects its cash burn will be reduced significantly in the second half of fiscal 2007 and remains firmly on track to achieve its objective to exit fiscal year 2007 with at least $38 million in cash, cash equivalents and short-term investments. AMSC(TM) booked $28.2 million in new orders and contracts during the quarter ended June […]

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