Loss narrows for herbal extracts company

Hauser, Inc., a supplier of herbal extracts and nutritional supplements, this reported its financial results for the fiscal 2002 second quarter ended September 30, 2001.

For the fiscal 2002 second quarter, net loss narrowed to $911,000, or $0.16 per share, from a net loss in the corresponding quarter a year ago of $3.1 million, or $0.63 per share. Loss from operations improved to $538,000, compared with loss from operations of $2.4 million in the same quarter a year ago. Total revenues were $13.4 million, compared with total revenues of $17.4 million in the corresponding year-earlier quarter.

For the first half of fiscal 2002, Hauser recorded a net loss of $1.5 million, or $0.28 per share, improved from a net loss in the year-earlier first half of $5.0 million, or $1.03 per share. The current first half loss from operations totalled $716,000, compared with a year ago when the first half loss from operations equaled $4.4 million. Total revenues for the first six months of fiscal 2002 were $29.2 million, compared with $39.1 million a year ago.

Kenneth Cleveland, president and chief executive officer, said, "Our results reflect the progress we continue to make as we seek ways to operate more efficiently. Costs in sales, marketing, and general and administrative have been significantly reduced, not only quarter-over-quarter but also sequentially."​

As part of its program to better focus Hauser's resources and improve its financial and operating structure, the company has previously announced its intention to sell Hauser Contract Research, Hauser Laboratories and Shuster Laboratories.