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You Are Here: Press Releases 2003
CONTACT: FOR IMMEDIATE RELEASE Allergy Research Group, Inc. Reports Profits For Third Quarter 2003HAYWARD, CA, November 14, 2003 --- Allergy Research Group, Inc. (OTCBB:ALRG) announced financial results for the third quarter ending September 30, 2003. ALRG recorded total revenue of $3,326,957 for the quarter, up 11% from 2002. The increase of $326,032 is primarily due to increased sales to distributors and increased demand at retail for current and new products.
Cost of sales increased $82,404 to $1,898,692 for the quarter ended September 30, 2003, compared to $1,816,288 for the quarter ended September 30, 2002. The increase in cost of sales corresponds with the increase in sales. Gross profit margins increased approximately 3.9%, approximating 42.8% for 2003 resulting from the higher margins associated with retail sales. During the quarter ended September 30, 2003, the Company recorded net income of $397,517, as compared to net income of $122,064 for the same period in 2002. The increase is a reflection of the increase in sales at higher profit margins and reduced operating expenses. Interest expense decreased $7,600 for the quarter ended September 30, 2003, as compared to September 30, 2002 as result of the Company paying down its line of credit from $570,064 at December 31, 2001 to zero at September 30, 2003. Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com. [click here] 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. # # # 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 law and regulations, adequacy and availability of insurance coverage, availability of raw materials, dependence on distributors and customers, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, 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. CONTACT: Clinton Abbott Investor Relations (888) 607-5399 FOR IMMEDIATE RELEASE Allergy Research Group, Inc. Reports Profits For Second Quarter 2003HAYWARD, CA, August 14, 2003 --- Allergy Research Group, Inc. (OTCBB:ALRG) announced financial results for the second quarter ending June 30, 2003. ALRG recorded total revenue of $3,447,130 for the quarter, up 7% from 2002. The increase of $213,005 is primarily due to increased sales to distributors and increased demand at retail for current and new products. Total revenue for the first quarter 2003 was $3,448,762.
Cost of sales decreased $43,653 to $1,990,480 for the quarter ended June 30, 2003, compared to $2,034,133 for the quarter ended June 30, 2002, as a result of higher margins at retail and reduced freight costs. Gross profit margins increased approximately 5.2%, approximating 42.8% for 2003 resulting from the higher margins associated with retail sales. During the quarter ended June 30, 2003, the Company recorded net income of $427,488, as compared to net income of $221,693 for the same period in 2002. The increase is a reflection of the increase in sales and higher profit margins. Interest expense decreased $9,936 for the quarter ended June 30, 2003, as compared to June 30, 2002 as result of the Company paying down its line of credit from $570,064 at December 31, 2001 to zero at June 30, 2003. On August 12, 2003, Manfred (Fred) Salomon was appointed President of the Company. Mr. Salomon was hired in 2002 to fill the role of Director of Operations. He brings 40 years of executive management experience. Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com. [click here] 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. # # # 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 law and regulations, adequacy and availability of insurance coverage, availability of raw materials, dependence on distributors and customers, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, 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. CONTACT: Clinton Abbott Investor Relations (888) 607-5399 FOR IMMEDIATE RELEASE Allergy Research Group, Inc. Reports Profits For First Quarter 2003HAYWARD, CA, May 15, 2003 --- Allergy Research Group, Inc. (OTCBB:ALRG) today announced financial results for the first quarter ending March 31, 2003. ALRG recorded total revenue of $3,448,762 for the quarter, up 15% from 2002. The increase of $442,575 is primarily due to increased sales to our distributors and increased demand at retail for current and new products.
Cost of sales increased $155,630 to $1,954,840 for the quarter ended March 31, 2003, compared to $1,799,210 for the quarter ended March 31, 2002, a corresponding increase resulting from the increase in sales. Gross profit margins increased approximately 3.2%, approximating 43.3% for 2003 resulting from the higher margins associated with retail sales. During the quarter ended March 31, 2003, the Company recorded net income of $502,266, as compared to net income of $292,955 for the same period in 2002. The increase is a reflection of the increase in sales and higher profit margins. Interest expense decreased $11,261 for the quarter ended March 31, 2003, as compared to March 31, 2002 as result of the Company paying down its line of credit from $470,064 at March 31, 2002 to zero at March 31, 2003. Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com. [click here] 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. # # # 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 law and regulations, adequacy and availability of insurance coverage, availability of raw materials, dependence on distributors and customers, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, 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.(top) CONTACT: Clinton Abbott Investor Relations (888) 607-5399 FOR IMMEDIATE RELEASE Allergy Research Group, Inc. Reports Profits For 2002HAYWARD, CA, March 14, 2003 --- Allergy Research Group, Inc. (ALRG) today announced financial results for the year ending December 31, 2002. ALRG recorded total revenue of $12,684,413 for the year, up 8% from 2001. The increase of $935,214 is primarily due to increased marketing efforts and the introduction of new products. "We are encouraged by the increase in sales which is instrumental in meeting our financial goals," said Chief Executive Officer and Chairman, Dr. Stephen A. Levine, Ph.D., who has implemented a strategy that includes cost controls, the development of a comprehensive management team, increased sales and marketing efforts and reduction of debt. Cost of sales increased $480,016 to $7,587,795 for the year ended December 31, 2002, compared to $7,107,779 for the year ended December 31, 2001, a corresponding increase resulting from the increase in sales. Gross profit margins increased approximately .7%, approximating 40.2% for 2002 resulting from the higher margins associated with retail sales. During the period ended December 31, 2002, the Company recorded net income of $997,862, as compared to net income of $326,557 for the period ended December 31, 2001. The increase is a reflection of the increase in sales, higher profit margins, a reduction in selling and general and administrative expenses, from $4,070,974 in 2001 to $3,924,080 in 2002 and a reduction of interest expense. Interest expense decreased approximately $122,393 for the year ended December 31, 2002, as compared to December 31, 2001 due to declining interest rates and the reduction of our outstanding line of credit to zero during the fourth quarter of 2002. Complete copies of the company's financial statements, including notes to the financials, can be found on its website at www.nutricology.com. [click here] 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. # # # 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 law and regulations, adequacy and availability of insurance coverage, availability of raw materials, dependence on distributors and customers, litigation, limitations on future financing, the effect of adverse publicity, uncertainties relating to acquisitions, managing and maintaining growth, 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. |
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