OREANDA-NEWS. ChromaDex Corp., an innovator of proprietary health, wellness, and nutritional ingredients, that creates science-based solutions for dietary supplement, food and beverage, skin care, sports nutrition, and pharmaceutical products, announced today record revenue for the first quarter ended April 2, 2016. 

For the three months ended April 2, 2016 (“Q1 2016”), ChromaDex reported record net sales of $7.3 million, an increase of 39% as compared to $5.3 million for the three months ended April 4, 2015 (“Q1 2015”).  This increase was largely due to increased sales in its ingredients business segment, driven by its lead ingredient, NIAGEN®  branded nicotinamide riboside.  The ingredients segment generated record net sales of $4.6 million for Q1 2016, an increase of 72%, compared to $2.7 million for Q1 2015. 

The core standards and services segment posted record sales of $2.6 million for Q1 2016, an increase of 12% as compared to $2.3 million for Q1 2015.  Net sales for the scientific and regulatory consulting segment were $148,000 a decrease of 47% as compared to $281,000 for Q1 2015 as this segment put a further emphasis on intercompany work supporting our ingredients segment. 

The net income attributable to common stock holders for Q1 2016 was $256,000 or $0.01 per share as compared to a net loss of ($1,026,000) or ($0.03) per share for Q1 2015.

Adjusted EBITDA for Q1 2016 was $872,000, compared to adjusted EBITDA of ($113,000) for Q1 2015.  ChromaDex defines Adjusted EBITDA as net income (loss) adjusted for income tax, interest, depreciation, amortization and non-cash stock compensation costs. The Basic and Diluted Adjusted EBITDA per share for Q1 2016 was $0.02 versus ($0.00) for Q1 2015.

Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, “We are happy to announce record revenue and net income for Q1 as our continued improvement in the financial performance of the Company continues to pay off.”

Jaksch continued, “The successful execution of the up-listing to the NASDAQ Capital Market was a tremendous milestone for the Company. Since we began trading on the NASDAQ Capital Market we have seen an increase in daily volume and have opened doors to a broader investor base. This increase in visibility is key as we look forward to building relationships with additional institutional investors and gaining access to analyst coverage."