May 15, 2008

NutraCea posts US$6.8 million loss in Q1

NutraCea reported a total loss of US$6.8 million in the first quarter ended March 31, against US$247,000 loss from the same period last year.

The company's net sales totaled US$5.1 million, up 155 percent from US$1.9 million in the first quarter of fiscal 2007.

NutraCea attributed the robust trade to an increase in US product sales which totaled US$860,000.

Brad Edson, president and CEO, said the company's first quarter revenues were significantly higher on-year and slightly lower than anticipated over the fourth quarter of 2007.

NutraCea said research and development expenses increased to US$5.2 million from US$2.3 million.