The company has reported a 28 percent increase in its revenue for the quarter compared to the same period last year, reaching $1.19 million, as opposed to $0.9 million in 2003.
Imagenetix also reported an increase in its net income up from to $76,301 or $0.01 per share last year to $290,029 or $0.03 per share this quarter.
"We are pleased to report our sixth consecutive profitable quarter," said Bill Spencer, the company's CEO. "We recently reported full fiscal year earnings of $0.05 per share, so we are happy to report earnings of $0.03 per share in the first fiscal quarter."
Spencer attributed the growth in gross sales to a widening of the company's distributor base, which is made of companies that are privately labeling and marketing Imagenetix products. He likewise drew attention to evidence that existing distributors are becoming more educated about the company's products and using scientific data to support the health benefits when marketing them.
"In October of this year we will begin to launch marketing campaigns to make consumers aware and educated about Celadrin and its benefits," added Spencer.
Celadrin is a natural compound made up of of esterified fatty acid carbons (EFACs) and other active synergists, and can be formulated into pill and cream forms.
Results of a clinical trial, published in the Journal of Rheumatology two years ago, suggested that Celadrin could help with joint and mobility problems.
The double-blind, multi-centre, placebo-controlled trial examined the impact of a 68-day oral administration of Celadrin on 64 participants who were experiencing joint and mobility problems.
The researchers reported that after the trial period, participants who consumed Celadrin showed healthy joint mobility, flexibility and function compared to those given the placebo.
Data from the study also indicated that Celadrin not only promoted joint flexibility, but also supported and promoted the ability to walk long distances.
Imagenetix announced earlier this month that the Canadian firm Proprietary Nutritionals (PNI) will henceforth market Celadrin globally, with the exception of India and China, with the intention of making the product a household name.
"Since Celadrin addresses a wide range of joint, muscle, and tendon-related ailments, both rheumatoid and osteoarthritis, as well as many other forms of arthritis, we think it is the perfect new product for the $22 billion joint health market," said Dean Mosca, president of PNI.
According to the Centers for Disease Control and Prevention (CDC), arthritis and other rheumatic conditions are among the most common chronic diseases, affecting 70 million adults in the US in 2001, and are the leading cause of disability among US adults.
Research by the CDC has shown that if arthritis prevalence rates remain stable, the number of affected persons aged 65 and under will nearly double by 2030, meaning that as many as 41 million people in this age group could be afflicted by arthritis or chronic joint symptoms (CJS).