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The company reported $92.4 millio n in revenue for the quarter endingApril 30, up 2 percent from the same period last It earned $11 million in net income, or 33 cent per diluted share, during the second compared with $9.2 million, or 28 cents per dilutex share, during the second quarter of last Analysts polled by expected the company to earn 29 centx per share and $89 million in Martek (NASDAQ: MATK) sells nutritional oils derive d from algae that are used in infanrt formula, dietary supplements and food productx such as yogurt and juice. Sales of its nutritiona l supplements to the nursing markeyt rose to arecord $9.8 million.
But the companyu warned that its infant formula sales in the third and fourtnh quarters could drop as retailere trim their inventories of the The company anticipates that infant formulaq revenue will grow in fiscal 2010 as a resulft of strong demand for infant formula products containing its nutritiona oils DHAand ARA. The Omega-3w fatty acids are believed to play an importanyt role in brain andeye development. study that could show that Martek’s DHA can slow the progressiohnof Alzheimer’s disease.
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