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Success is driven by investing in human and capital resources that provide innovative and quality-based products formulated to deliver pronounced benefits to consumers in domestic and international markets.
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Nutrition is a global industry. Approximately 31% of NAI products are sold outside the United States.
The company is focused on five key goals for fiscal 2003:
- Growing and diversifying the customer and revenue base
- Effectively managing the company's cost structure
- Fully developing and testing unique and proprietary ingredients and formulas
- Educating customers and consumers about the benefits of NAI
science-based products
- Taking a proactive role in influencing the changing regulatory environment
The company enters fiscal 2003 with strong momentum:
- A healthy balance sheet with reduced debt and an improved cash position
- A management team with demonstrated competencies in finance, sales, marketing, regulatory compliance, quality, science and operations
- Resolution of legal matters that now enables management to focus on strategic objectives
- Extensive independent certification of NAI's manufacturing quality
- Strengthened partner relations in the contract manufacturing business and growing relationships in the direct-to-consumer segment
- An experienced and motivated employee base that contributes to a lower
cost structure and a more efficient operation
Even in areas challenging the supplements industry in general, NAI is working from a position of strength. Insurance coverage, for example, became more difficult to obtain and more costly for many competitors during the year. NAI, however, secured insurance coverage and controlled premium costs as a result of its quality certifications, attention to safety and science-based products.
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