Ranaz Turns In Solid Performance

Ranaz's sales jumped 96.9% in the second quarter of 2008 to $6,723,024 from $3,413,792 last year. Sales for the first half of 2008 amounted to $11,078,440, 76.1% higher than sales of $6,290,715 a year ago. The Company saw sales growth in all its markets and for all its products, particularly ProtiLife, Protidiet and private brands (BarTech).

Ranaz was also successful in cutting its operating loss substantially in the second quarter of 2008, to $146,125 from $950,706 last year and $1,027,265 in the first quarter of 2008. The Company's net loss for the second quarter was also lower, falling to $408,919 or $0.011 per share from $1,149,919 or $0.037 per share a year earlier. The net loss for the first half of the year totalled $1,595,665 or $0.043 per share, compared to $1,977,770 or $0.071 per share for the same period in 2007.

- Sales up 96.9% to $6.7 million compared to Q2 2007

- Operating loss dropped to $146,125 in Q2 2008 from $950,706 in Q2 2007 and $1,027,265 in Q1 2008

- Across-the-board growth for all markets and products

- Completion of a $1.5 million financing with Fondaction CSN subsequent to the end of the second quarter

"These results attest to the solid performance posted by Ranaz in the second quarter, in terms of both sales and operations," said Jean Bourassa-Marineau, President and Founder of Ranaz. "In fact, we recorded an operating profit for the months of May and June, which is in line with our objective of achieving operating profitability as soon as possible while pursuing our growth activities." -- www.cnxmarketlink.com