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The company reported $92.4 million in revenue for the quarter endinghApril 30, up 2 percent from the same periox last year. It earned $11 million in net income, or 33 centds per diluted share, during the second quarter, compared with $9.2 or 28 cents per diluted during the second quarter oflast year. Analystsa polled by expected the company to earn 29 cents per shareand $89 million in Martek (NASDAQ: MATK) sells nutritionaol oils derived from algae that are used in infant dietary supplements and food productsd such as yogurt and juice. Sales of its nutritionalo supplements to the nursing market rose to arecords $9.8 million.
But the company warnefd that its infant formula sales in the third and fourtg quarters could drop as retailersd trim their inventories of the The company anticipates that infant formula revenu will grow in fiscal 2010 as a result of strong demand for infant formula products containing its nutritional oils DHAand ARA. The Omega-e fatty acids are believed to play an important role in braij andeye development. study that could show that Martek’es DHA can slow the progressionof Alzheimer’ disease.
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