Dallas, Texas 10/14/2013 (Financialstrend) – On October 10, Nutranomics Inc. (OTCBB:NNRX) had gone public on October 10, with sales figures for its previous quarter. It had reported a 44% jump in sales to Japan in comparison to same quarter of FY12.
In his statement marking the huge jump in sales into Japan, Dr. Tracy K. Gibbs, CEO of Nutranomics has been quoted as saying that “In Japan, we have seen the demand for higher quality USA made products increase dramatically and Nutranomics sales have picked up as a result of our strict quality standards and long history in the country.”
Nutranomics is in the business of manufacturing nutritional food products. It has a big “research and development” wing which has put together quality food supplement products which have routinely passed the high standard of quality control that Japan subjects imported food items too. These tests include stringent testing for preservatives and pesticide residues in the dietary supplements that Nurtanomics supplies to that Country. In addition to marketing its own labels of supplement food products, Nutranomics has also developed successful food supplement formulas on a turnkey project basis on behalf other food and beverages companies.
Markets reacted to this huge jump in quarter on quarter profits by steadily buying into the stock when trading started on October 11. Through the day the stock appreciated by a significant 20.44% through the day’s trading. Close to 1.42 million shares of the company changed hands through the day, driving up the market cap of this penny stock to $25.2 million. At current valuations, the stock has gone up by close to 173% from its 52 week low pricing and is up down 50% from its 52 week high valuations. On the back of strong sales into Japan, the company has tried to reinforce its sales team selling into United States, in order to grow its North American sales.
