IRVINE, Calif., July 29, 2015 (GLOBE NEWSWIRE) -- ChromaDex Corp. (OTCQX:CDXC), an innovator of proprietary health, wellness, and nutritional ingredients that creates science-based solutions for dietary supplements, food and beverage, skin care, sports nutrition, and pharmaceutical products announced today it has received the 2014 NBJ Business Achievement Award for Mid-Sized Growth companies.
The Nutrition Business Journal ("NBJ") is the premier publication for the nutrition, natural, organic, dietary supplement and integrative medicine industries. Each year the publication recognizes the industry's most notable business leaders in its annual Business Achievement Awards issue. Recipients were honored during the 18th Annual NBJ Summit held on July 20-23 in Dana Point, California. The annual NBJ Summit attracts over 300 of the nutrition industry's brightest minds and most influential power brokers for unparalleled education, strategic thinking and discussion on the progress, opportunities and challenges facing the industry.
ChromaDex has reported four consecutive quarters of record revenue. In the Company's first quarter of 2015, ChromaDex reported record net sales of $5.3 million, an increase of 71% as compared to $3.1 million in the first quarter of 2014, and a sequential increase of 24% as compared to the fourth quarter of 2014. The strong growth was largely due to increased sales in its ingredients business segment, led by its NIAGEN® branded nicotinamide riboside. The ingredients segment generated record net sales of $2.7 million for Q1 2015, an increase of 136%, compared to $1.1 million for Q1 2014, and a sequential increase of 36% as compared to Q4 2014.
Frank Jaksch Jr., founder and CEO of ChromaDex, commented, "We're honored to be the recipient of this NBJ Business Achievement Award recognizing our outstanding growth in 2014. Our growth momentum has carried forward into 2015, and we expect robust sales growth for the foreseeable future."
About Nutrition Business Journal:
Through a portfolio of media products, including a monthly executive journal and in-depth research reports, Nutrition Business Journal, produced by New Hope Natural Media (a division of Penton Media), supplies authoritative data and analysis to leaders and decision makers in the nutrition business. NBJ also provides strategic consulting services to many of the top companies in the industry. For more information of NBJ, please visit www.newhope360.com/nbj.
About ChromaDex:
ChromaDex leverages its complementary business units to discover, acquire, develop and commercialize patented and proprietary ingredient technologies that address the dietary supplement, food, beverage, skin care and pharmaceutical markets. In addition to our ingredient technologies unit, we also have business units focused on natural product fine chemicals (known as "phytochemicals"), chemistry and analytical testing services, and product regulatory and safety consulting (known as Spherix Consulting). As a result of our relationships with leading universities and research institutions, we are able to discover and license early stage, IP-backed ingredient technologies. We then utilize our in-house chemistry, regulatory and safety consulting business units to develop commercially viable ingredients. Our ingredient portfolio is backed with clinical and scientific research, as well as extensive IP protection. Our portfolio of patented ingredient technologies includes NIAGEN® nicotinamide riboside; pTeroPure® pterostilbene; PURENERGY®, a caffeine-pTeroPure® co-crystal; ProC3G®, a natural black rice containing cyanidin-3-glucoside; IMMULINA™, a spirulina extract; and Suntava® Purple Corn derived from a proprietary non-GMO purple corn hybrid which contains an extraordinarily high level of anthocyanins. To learn more about ChromaDex, please visit www.ChromaDex.com.
Forward-Looking Statements:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in ChromaDex's business. More detailed information about ChromaDex and the risk factors that may affect the realization of forward-looking statements is set forth in ChromaDex's Annual Report on Form 10-K for the fiscal year ended January 3, 2015, ChromaDex's Quarter Reports on Form 10-Q and other filings submitted by ChromaDex to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and ChromaDex undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.