Blis Technologies reported a full year loss of $488,000, an improvement on the previous year's loss of $617,000.
Revenue for the year to the end of March increased 31 percent to $1.15 million, although product sales fell 7 percent to $609,000, mainly due to a fall in sales in Australia and this country.
Licensing revenue from Nestle Nutrition, with which Blis has a research and development agreement, was $155,000 for the year, from nothing the previous year.
Blis developed and makes Blis K12, which contains naturally occurring and beneficial bacteria which support the throat's natural defences.
In the latest year sales in the United States were $325,000, with a marked lift following the appointment of Frutarom as global distributor last October, Blis said today.
New Zealand revenue was lower than the previous year by 28 percent, but that was now being reversed through a marketing campaign.
Progress in key areas of product development included improvements to the fermentation process and formulation of products that have resulted in Blis K12 being more stable in a range of end-user formats, opening up opportunities for new products.
Blis shares last traded at 4c on Tuesday, having ranged between 3.5c and 8.5c in the past year.
