Neptune Technologies & Bioresources, Inc. reported consolidated financial results for the fourth quarter and fiscal year ended February 28, 2013. For the quarter, the company’s revenues totaled $4,591,000 compared to $5,367,000 for the quarter ended February 29, 2012. Adjusted EBITDA was negative at $4,607,000 for the quarter ended February 28, 2013, versus negative of $775,000 for the quarter ended February 29, 2012. Net loss was $1,147,000 versus a net loss of $133,000 in the prior-year quarter. For the year, the company’s revenues grew 35% to $25,864,000, up from $19,124,000 for the corresponding period ended February 29, 2012. Adjusted EBITDA was negative at $5,797,000 compared to negative of $2,593,000 in the prior year. Net loss was $19,962,000 versus a net loss of $4,593,000 in the prior year. The year over year increase in revenues and higher net loss is largely due to Nutraceutical business.

Neptune Technologies & Bioresources, Inc. announced that the previously announced class action lawsuit filed against Neptune and certain of its officers on December 19, 2012 by Robbins Geller Rudman & Dowd LLP in the United States District Court for the Southern District of New York was voluntarily dismissed by the plaintiffs, without prejudice. No payment was made by any of the defendants in connection with the dismissal. The complaint alleged that the defendants violated the Securities Exchange Act of 1934. More specifically, it alleged that between December 12, 2011 and November 8, 2012 the defendants issued materially false and misleading statements regarding the company's business, operations and financial prospects.

Neptune Technologies & Bioresources, Inc., Q4 2013 Earnings Call, May 23, 2013