CNS Announces Purchase of FiberChoice(R) Patents.MINNEAPOLIS -- CNS See Continuous net settlement. CNS See continuous net settlement (CNS). , Inc. (Nasdaq:CNXS), the Breathe Right Breathe Right™ Sports medicine A proprietary Band-Aid™-like nasal strip worn on the nasal bridge, said to improve breathing by opening the nasal passages Indications Temporary relief of breathing difficulties due to deviated nasal (R) company, today announced the purchase of a portfolio of domestic and international patents and patents pending related to the FiberChoice(R) brand for approximately $8 million from Onesta Nutrition, Inc. As part of this transaction, CNS and Onesta Nutrition have cancelled their existing license agreement related to these patents. The transaction, which was completed January 4, 2006, was funded by CNS' existing cash balances, and is expected to be earnings neutral in the next fiscal year, ending March 31, 2007. The patents and patent applications cover CNS' existing product line of FiberChoice fiber supplements and will begin to expire in December 2016. "The purchase of the FiberChoice(R) patents demonstrates our commitment to further develop and grow this important brand within our portfolio," said Marti Morfitt, CNS' president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of FiberChoice branded products through the first half of fiscal 2006 grew to $9.7 million, an increase of 86 percent compared to the prior-year period. FiberChoice is currently available in original Orange and Assorted Fruit Flavored chewable tablets, and Fiber Drops. In addition, CNS has announced it will begin shipping two new FiberChoice branded products to retailers in February 2006: FiberChoice plus Calcium(TM) chewable tablets; and FiberChoice Weight Management(TM) chewable tablets. About CNS, Inc. CNS, based in Minneapolis, designs and markets consumer health care products, including Breathe Right(R) nasal strips and FiberChoice(R) dietary fiber dietary fiber n. Coarse, indigestible plant matter, consisting primarily of polysaccharides, that when eaten stimulates intestinal peristalsis. supplements. The company focuses on products that address important consumer needs within the aging well/self care market, including better breathing and digestive health. Its common stock is listed on the Nasdaq National Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CNXS." More information about CNS and its products is available at www.cns.com. Some of the information contained in this news release is forward-looking and subject to certain business risks as described in the company's filings with the Securities and Exchange Commission, including those referred to in its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2005. This news release contains forward-looking statements, which involve risks and uncertainties. |
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