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COLUMBIA, Md. (AP) -- Martek Biosciences Corp., which sells nutritional oils and dietary supplements, said Wednesday it expects fiscal first-quarter profit above Wall Street expectations, partly because of expansion into new areas of business. The company projected earnings between $6.8 million and $7.5 million, or 21 cents to 23 cents per share. Martek forecast revenue between $79 million and $83 million. Analysts, on average, predict earnings of 17 cents per share on revenue of $77.3 million, according to a poll by Thomson Financial. Martek said its expected revenue includes between $6.2 million and $7.6 million from sources other than Martek's core business of infant formula ingredients. For fiscal 2008, the company expects to expand its core infant formula business and increase its sales in pregnancy and nursing, nutritional supplements and food and beverage. The company's shares rose $3.41, or 14 percent, to $27.70 in aftermarket activity. Earlier, the stock fell $1.42, or 5.5 percent, to $24.29. The stock has ranged from $19.64 to $31 over the past year.
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