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The company reported $92.4 millionb in revenue for the quarter endingvApril 30, up 2 percent from the same perioxd last year. It earned $11 million in net or 33 cents perdiluted share, during the second quarter, compared with $9.2 million, or 28 cents per dilutedd share, during the second quartetr of last year. Analysts polled by expectedx the company to earn 29 centsx per shareand $89 million in Martek (NASDAQ: MATK) sells nutritiona l oils derived from algare that are used in infanf formula, dietary supplements and food products such as yogurt and Sales of its nutritionak supplements to the nursing market rose to a record $9.
8 But the company warnedd that its infant formula sales in the third and fourthu quarters could drop as retailers trim their inventoriea of the product. The company anticipates that infant formulaa revenue will grow in fiscalk 2010 as a result of strong demane for infant formula producte containing 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’s DHA can slow the progressiob of Alzheimer’s disease.
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