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- Natural Alternatives International Inc (NASDAQ:NAII) reported first-quarter FY22 sales of $38.34 million, a decline of 3.5% year-on-year.
- Private-label contract manufacturing sales decreased 9.3% Y/Y to $33.6 million primarily due to a 45% decrease in sales to its largest customer primarily associated with their European markets.
- The gross profit rose 37.9% Y/Y to $8.3 million, with the margin expanding 650 basis points to 21.6%.
- The operating margin expanded 580 basis points to 11%, and operating income for the quarter rose 102.8% to $4.2 million.
- The company held $20 million in cash and equivalents as of September 30, 2021.
- EPS of $0.51 versus $0.35 in Q1 FY21.
- Sales backlog for the quarter exceeded $8.0 million and was primarily related to supply chain and logistical constraints.
- Outlook: Natural Alternatives sees FY22 net sales to increase 7.0% - 10.0%.
- The company expects supply chain and manufacturing challenges to resolve during the second half of fiscal 2022.
- Price Action: NAII shares closed higher by 2.86% at $13.65 on Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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