ALAMEDA, Calif., Aug. 14, 2007 (PRIME NEWSWIRE) -- Allergy Research Group, Inc. (OTCBB:ALRG) today announced financial results for the quarter ending June 30, 2007.
ALRG announces revenues of $4,072,470 for the quarter ended June 30, 2007, an increase of 2% compared to $3,996,496 for the same period last year. The increase in sales is primarily attributable to increased sales to our wholesale customers and to distributors resulting from our promotional efforts and the up side of the ordering patterns of the distributors. Sales to distributors had decreased in the first quarter and bounced back in the second quarter.
Cost of sales increased $15,219 to $2,482,247 for the quarter ended June 30, 2007, compared to $2,467,028 for the quarter ended June 30, 2006. The increase corresponds to the increase in sales. Gross profit margins were approximately 39% for 2007 and 38% for 2006. Gross profit margins increased approximately 1% for the period over period comparison primarily as a result of increased prices on 50 items during February 2007.
Net earnings after tax for June 30, 2007 and 2006 was $242,116 and $257,856, respectively. The decrease is due primarily to increased operating expenses.
Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com.
About Allergy Research Group, Inc.
Allergy Research Group, Inc. is an innovative leader in nutraceutical research and product formulation. Since its inception in 1979, the company has been noted for quality, hypoallergenic nutritional supplements and supplies products to physicians and healthcare practitioners worldwide.
The Allergy Research Group, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2517
Except for historical information contained herein, this release contains, within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, forward-looking statements that are based on management's beliefs and assumptions, current expectations, estimates and projections. Many of the factors that will determine the Company's financial results are beyond the ability of the Company to control or predict. These statements are subject to risks and uncertainties and therefore actual results may differ materially. The Company disclaims any obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise. Important factors and risks that may affect future results include but are not limited to: the impact of competitive products, changes in applicable law and regulations and costs of compliance, adequacy and availability of insurance coverage, availability and quality of raw materials, dependence on distributors and customers, dependence on key personnel, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, economic downturns, increase in prices charged by manufacturers and vendors, customer demands, as well as other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission, copies of which are available upon request from the Company's investor relations department or via the SEC's website located at www.sec.gov.