02.05.06

2.5.2006: Meldung: Natural Alternatives International, Inc. Announces Third Quarter Results

Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII - News), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced net income of $621,000 or $0.09 per diluted share on net sales of $23.3 million for the third quarter ended March 31, 2006.

Net income increased 124% to $621,000 or $0.09 per diluted share from $277,000 or $0.04 per diluted share for the comparable quarter last year. Income from operations was $1.1 million compared to $675,000 in the comparable quarter last year. Third quarter net sales increased 4% to $23.3 million from $22.5 million for the comparable quarter last year. Net sales from our recent acquisition of Real Health Laboratories, Inc. ("RHL") were $2.7 million in the quarter.

As of March 31, 2006, NAI had cash and working capital of $1.6 million and $12.7 million, compared to $1.9 million and $14.4 million at June 30, 2005, respectively.

CEO Mark LeDoux commented, "During the third quarter we integrated previously outsourced fulfillment activities for our Dr. Cherry Pathway to Healing® product line into RHL"s existing operation, which should generate cost savings in future periods. We are pleased with our progress related to the integration of RHL and expect to realize additional strategic and operational benefits."

President Randell Weaver added, "During the third quarter, we invested in inventory and made substantial progress in completing orders for our two new contract manufacturing customers. Though deliveries through March 31 were limited, in April we began regular deliveries and expect to continue for the remainder of the fourth quarter. We expect consolidated net sales to exceed $33 million in the fourth quarter. We are committed to growing and strengthening the relationships with our new and existing highly valued customers."

NAI, headquartered in San Marcos, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to the client including: scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review and international product registration assistance. For more information about NAI, please see our website at www.nai-online.com.

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are not historical facts and information. These statements represent our intentions, expectations and beliefs concerning future events, including, among other things, our expectations and beliefs with respect to future financial and operating results, including the amount of our future net sales, our ability to successfully integrate RHL"s operations and the impact on profitability of such integration, our ability to realize strategic, operational and financial benefits from the acquisition and integration of RHL, to continue to implement our strategic plans, to complete orders and make deliveries to our new customers within specified time periods, and to develop and increase sales to new and existing customers. We wish to caution readers these statements involve risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. NAI"s financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by us with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q.

CONTACT -- John R. Reaves, Chief Financial Officer, Natural Alternatives
International, Inc., 760-736-7700 or investor@nai-online.com.



NATURAL ALTERNATIVES INTERNATIONAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

March 31, June 30,
2006 2005
---------- ----------
ASSETS
Cash and cash equivalents $1,566 $1,916
Accounts receivable, net 6,420 10,834
Inventories, net 23,484 12,987
Deferred income taxes 559 421
Other current assets 2,156 1,012
---------- ----------
Total Current Assets 34,185 27,170
Property and equipment, net 15,664 16,507
Goodwill and purchased intangibles, net 11,446 -
Deferred income taxes 276 276
Other noncurrent assets, net 194 185
---------- ----------
Total Assets $61,765 $44,138
========== ==========

LIABILITIES AND STOCKHOLDERS" EQUITY
Current liabilities $21,471 $12,772
Deferred tax liability 1,737 -
Long-term debt, less current installments 5,095 2,979
Deferred rent 1,269 1,264
Long-term pension liability 283 206
---------- ----------
Total Liabilities 29,855 17,221
---------- ----------
Stockholders" Equity 31,910 26,917
---------- ----------
Total Liabilities and Stockholders" Equity $61,765 $44,138
========== ==========



NATURAL ALTERNATIVES INTERNATIONAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share data)
(Unaudited)

Three Months Ended Nine Months Ended
March 31, March 31,
--------------------- ---------------------
2006 2005 2006 2005
--------- --------- --------- ---------

NET SALES $23,284 $22,490 $64,885 $66,762
Cost of goods sold 17,285 18,277 50,640 52,639
--------- --------- --------- ---------
Gross profit 5,999 4,213 14,245 14,123
Selling, general &
administrative expenses 4,852 3,538 11,577 11,172
--------- --------- --------- ---------
INCOME FROM OPERATIONS 1,147 675 2,668 2,951
Other expense, net 170 277 290 182
--------- --------- --------- ---------
INCOME BEFORE INCOME TAXES 977 398 2,378 2,769
Provision for income taxes 356 121 884 855
--------- --------- --------- ---------
NET INCOME $621 $277 $1,494 $1,914
========= ========= ========= =========

NET INCOME PER COMMON SHARE:

Basic $0.09 $0.05 $0.24 $0.32
========= ========= ========= =========
Diluted $0.09 $0.04 $0.22 $0.30
========= ========= ========= =========

WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING:

Basic 6,571,924 5,957,923 6,257,043 5,938,322
========= ========= ========= =========
Diluted 7,005,954 6,420,671 6,653,383 6,481,623
========= ========= ========= =========



Source: Natural Alternatives International, Inc.
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