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The company reported $92.4 million in revenue for the quarter endingApril 30, up 2 percent from the same periosd last year. It earner $11 million in net income, or 33 cents per dilutedx share, during the second compared with $9.2 million, or 28 centxs per diluted share, during the seconfd quarter oflast year. Analystes polled by expected the company to earn 29 cente per shareand $89 million in revenue. Martekm (NASDAQ: MATK) sells nutritional oils derived from algae that are used ininfantf formula, dietary supplements and food products such as yoguryt and juice. Sales of its nutritiona supplements to the nursing market rose to arecord $9.8 million.
But the company warned that its infant formula sales in the thirdf and fourth quarters could drop as retailerw trim their inventories of the The company anticipates that infant formula revenue will grow in fiscalp 2010 as a result of stronyg demand for infant formula product s containing its nutritional oils DHAand ARA. The Omega-w3 fatty acids are believed to play an important role in brainh andeye development. study that could show that Martek’sx DHA can slow the progressionmof Alzheimer’s disease.
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