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8/10/2003

Horizon sales on the rise

The Daily Times-Call

LONGMONT — Horizon Organic Holding Corp. reported a 21 percent jump in domestic sales and a 20 percent jump in sales in the United Kingdom during the most recent quarter.

For the second quarter, Horizon reported revenue of $54 million, compared with $44.7 million during the same period a year ago.

U.S. sales of Horizon milk increased 23 percent, led by ultra-pasteurized milk, which accounts for 53 percent of Horizon’s milk production.

The company’s milk is now sold in 65 percent of the grocery stores in the United States, compared with 56 percent during the second quarter of 2002.

Net income for the quarter was $183,000, or 2 cents per diluted share, compared with $353,000, or 3 cents per share, during the same period a year ago.

The most recent quarter included $691,000 in transaction costs related to the company’s merger with Dean Foods. The Houston-based company will be buying the 87 percent of the equity interest in Horizon that it does not already own.

Revenue for the first six months of 2003 was $105.8 million, leading to net income of $370,000, or 3 cents per basic diluted share. This compares with a net loss of $1.3 million, or 12 cents per share, during the same period in 2002.

During a conference call with investors last week, Horizon President and CEO Chuck Marcy also announced that the Federal Trade Commission had dismissed a lawsuit brought by shareholders trying to prevent the Dean merger.

Company officials are uncertain when the merger will be finalized, but during the conference call, they said it will likely be in the fourth quarter.

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BOULDER — NaPro BioTherapeutics has reported a drop in its operating loss for the most recent quarter.

On sales of $7.6 million, NaPro reported a net loss for the second quarter of $2.1 million, or 7 cents per share, compared with a net income of $3.1 million, or 10 cents per share, on sales of $9.5 million during the second quarter of 2002.

During the first two quarters of the year, the company reported a net loss of $4.9 million, or 16 cents per share, compared with a net loss of $3.6 million, or 12 cents per share, during the same period last year.

In April, NaPro announced plans to sell its paclitaxel business to concentrate on the development and marketing of its gene-therapy products. By getting rid of paclitaxel, the generic form of the anti-cancer drug Taxol, NaPro plans to focus its efforts on treating cancer and hereditary diseases through gene therapy.