Posted on: Tuesday, February 17, 2004

BUSINESS BRIEFS
Kona firm loses $1.8 million

Advertiser Staff and News Services

Kona-based Mera Pharmaceuticals reported a net loss of $1.8 million in the year ended Oct. 31, or 24 percent less than its loss in the same period a year ago.

The company reported sales of $378,000 in the year to Oct. 31, up from $341,000 the year before.

"We showed improvement in virtually all of the most important areas," said Daniel P. Beharry, chief executive officer of Mera.

Mera, which produces the nutritional supplement AstaFactor with microbial aquatic plants, also said it will outsource much of its production to Hainan, China.