June 3, 2010 / 9:06 PM / 9 years ago

UPDATE 1-Martek Q2 results beat Street estimates

* Sees FY10 rev of $440-$445 mln vs est. $439.1 mln

* Sees higher advertising expenses

* Shares rise 8 percent after the bell

June 3 (Reuters) - Martek Biosciences Corp MATK.O posted a better-than-expected profit, helped by strong demand in Asia for its nutritional ingredients in both the infant formula and non-infant formula markets, and forecast 2010 revenue above market estimates.

For the second quarter, the company’s net profit was $12.5 million, or 37 cents a share, compared to $11 million, or 33 cents per share in the year-ago period.

Excluding charges related to the acquisition of Amerifit, profit jumped 37 percent to 45 cents a share in the latest quarter.

Analysts were expecting a profit of 32 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 34 percent to $124 million, beating analysts’ average estimate of $114.9 million.

The company said the year as a whole is looking strong from a revenue perspective, but revenues for the balance of 2010 are projected to be somewhat uneven on a quarter-to-quarter basis due to customer plant shutdowns for maintenance and other timing matters.

The company said it also anticipates significant advertising and promotion expenses each quarter as a result of its recently-acquired branded consumer health products business.

Shares of Martek closed at $19.25 Thursday on Nasdaq. They were trading up 8 percent at $20.80 after the bell. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Prem Udayabhanu)

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