Martek Posts Strong 3rd Qtr Sales

Fatty acid specialist Martek Biosciences has announced results for thethird quarter and nine months ended July 31,1997, which show record product sales of $975,000 and $2.4 million respectively, an increase of 395% and 265% on the like, year-earlier periods. Rises in sales of both nutritional and drug discovery products contributed to the growth.

Net loss for the nine months grew to $11.7 million or $0.86 per share, compared with $5.9 million or $0.45 per share for the same period in 1996, which the company says is principally a result of increased R&D and marketing expenses plus $2.1 million in license fees recognized during the first quarter of 1996 and not repeated in 1997.