ALAMEDA, Calif., Nov. 14, 2007 (PRIME NEWSWIRE) -- Allergy Research Group, Inc. (OTCBB:ALRG) today announced financial results for the quarter ending September 30, 2007.
ALRG announces revenues of $4,319,664 for the quarter ended September 30, 2007, an increase of 6% compared to $4,091,460 for the same period last year. The third quarter increase was driven by increased sales to our wholesale customers and to distributors. We attribute the third quarter increase in sales to a combination of the results of our promotional efforts and the upward trend ordering patterns of the distributors.
Cost of sales increased $104,482 to $2,633,782 for the quarter ended September 30, 2007, compared to $2,529,300 for the quarter ended September 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 beginning in February 2007.
Net earnings after tax for September 30, 2007 and 2006 was $339,399 and $291,434, respectively. Net earnings increased in the third quarter due to the increase in sales and interest income offset by increased general and administrative costs.
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.