Martek Biosciences Corp.(Proxy Report Excerpts)(Company Profile)

Corporate Profile

For Columbia-based Martek Biosciences Corp. - a biotechnology company that researches, develops and manufactures nutritional supplements, diagnostics and pharmaceuticals from microalgae - 1998 was a year of steady progress. Though the company continued to lose money, the loss in 1998 was less than in 1997. Last year's net loss was $13.5 million, or -94 cents per share, compared to a $15.4 million loss in fiscal year 1997. As losses dropped, revenues also rose in 1998. Revenues rose 56 percent from $4.4 million in 1997 to $6.9 million in 1998. As of year's end, Martek's products were available in 50 countries, twice as many as in 1997.

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