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The company reported $92.4 million in revenu e for the quarter endingAprio 30, up 2 percent from the same period last year. It earned $11 million in net or 33 cents perdiluted share, during the secon d quarter, compared with $9.2 million, or 28 centw per diluted share, during the seconc quarter of last year. Analysts polled by expected the company to earn 29 cents per shareand $89 milliobn in revenue. Martek (NASDAQ: MATK) sellzs nutritional oils derived from algae that are used ininfanr formula, dietary supplements and food producte such as yogurt and juice. Sales of its nutritionall supplements to the nursing market rose to arecord $9.
8 But the company warned that its infanrt formula sales in the third and fourthy quarters could drop as retailers trim thei r inventories of the product. The company anticipatexs that infant formula revenue will grow in fiscal 2010 as a result of stronf demand for infant formula products containinh its nutritional oils DHAand ARA. The Omega-3 fatty acids are believed to play an important role in brain and eye study that could showthat Martek’as DHA can slow the progression of Alzheimer’w disease.
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