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News Breaks
November 26, 2012
17:50 EDTNEPTNeptune Technologies announces plan to resume operations follow plant explosion
Neptune Technologies & Bioressources announced its action plan going forward to resume operations which have been interrupted as a result of the incident that occurred on November 8 at its production plant located in Sherbrooke, Québec and to progressively supply customer demands in the interim. Quickly following the incident, Neptune has established five recovery committees composed of senior management and key employees to coordinate employee assistance, the action plan and business aspects: (1) human resources & communications, (2) sales & marketing, (3) plant reconstruction, (4) finance and (5) a strategic committee overseeing potential strategic opportunities and coordinating the efforts of all committees. As its first choice, Neptune intends to reconstruct an operational plant using the expansion facility that was under completion and certain existing equipment in the expansion. The cost and length of time to complete the reconstruction is being determined.
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May 27, 2015
17:39 EDTNEPTNeptune Technologies sees Q1 revenue approximately $2M, one estimate $6.8M
In line with Neptune's decision to slow production down to address product handling characteristics, consolidated sales for the first quarter ending May 31 are expected to come in at approximately $2M, while the gross margin will remain under pressure. "However, with the positive momentum we are seeing at the plant and a robust sales pipeline we expect sales for the second quarter ending August 31, 2015 to be materially higher," highlighted CEO Jim Hamilton. "Our overriding objectives are to ensure customers receive a premium product and to optimize plant output in a cost effective manner, while building out demand as we increase production."
17:37 EDTNEPTNeptune Technologies reports Q4 net loss ($10.679M) vs. ($1.327M) a year ago
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