IRVINE, Calif., March 15, 2012 /PRNewswire/ -- ChromaDex Corporation (OTCBB: CDXC) an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries, today announced financial results for the fiscal year ended December 31, 2011. ChromaDex announced total revenues, prepared in accordance with United States Generally Accepted Accounting Principles (GAAP) of approximately $8.1 million and a net loss attributable to common stockholders of $0.12 per share for the fiscal year ended December 31, 2011. As of December 31, 2011, cash, cash equivalents and marketable securities totaled over $420,000. Subsequent to the fiscal year ended December 31, 2011, ChromaDex raised capital of approximately $10.1 million in net proceeds through the sale of its common stock.
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“Going into 2012, we are now poised to leverage our product and service offerings related to BluScience, pTeroPure® and other novel ingredients. Our goal is to build ChromaDex into a leader in the natural products industry,” said Jeffrey Himmel, CEO of ChromaDex.
“2011 was truly a landmark year for ChromaDex as the company launched its new dietary supplement product line, BluScience, into the market. Initial distribution of our BluScience products was achieved at a major drug chain and health food store as well as an online retailer. This was the first step in the BluScience national mass-market roll out plan,” said Debra Heim, COO and President of the Consumer Products Division of ChromaDex.
Additional Financial Results & Notes
ChromaDex recorded revenue of $8,112,610 during the year of 2011 as compared to $7,566,370 in 2010, representing year on year growth of 7 percent. The net loss attributable to common stockholders for the fiscal year ended December 31, 2011, was $7,894,984 as compared to a net loss of $2,051,676 in 2010. The net loss in the year of 2011 was largely impacted by an increase in non-cash, share-based compensation expense related to the stock options that were granted following the May 20, 2010 private placement and other non-cash compensation. The effect of this increase, which is a “non-GAAP measure,” decreased the net loss for the year of 2011 by $2,969,150 and decreased the loss per share for the year of 2011 by $0.04.
About ChromaDex®:
ChromaDex, Inc., a wholly owned and operated subsidiary of ChromaDex, is an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries. ChromaDex, Inc. has an expanding pipeline of new ingredients, including its pTeroPure® (http://www.pteropure.com) pterostilbene for which it has worldwide, exclusive patent pending rights. ChromaDex recently launched its BluScience (http://www.bluscience.com) line of dietary supplements. Capitalizing on the diverse potential applications of the product, ChromaDex is also developing pTeroPure for the pharmaceutical markets, among others. pTeroPure is currently being studied in a human clinical trial at the University of Mississippi.
