Enzymotec Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, Net revenues for the first quarter of 2017 decreased 14.1% to USD 12.0 million, from USD 14.0 million for the first quarter of 2016. Based on the proportionate consolidation method that is used for segment reporting, net revenues for the first quarter of 2017 decreased 0.3% to USD 17.09 million, from USD 17.15 million for the first quarter of 2016. The decrease was primarily due to a decrease of USD 2.0 million in sales of krill products as a result of the intense competition in the market, a decrease of USD 0.5 million in sales of PS products and a decrease of USD 0.4 million in sales of VAYA Pharma products resulting from further inventory destocking by wholesalers, all offset by an increase of USD 2.8 million in INFAT® sales (proportionate consolidation method) due to increased adoption of INFAT® primarily in the China infant nutrition market. Research and development expenses for the first quarter of 2017 increased 17.5% to USD 2.2 million, from USD 1.9 million in the first quarter of 2016, primarily due to an increase of USD 0.2 million in expenses related to VAYA Pharma clinical trials. Adjusted EBITDA  for the first quarter of 2017 decreased 45.8% to USD 1.5 million, from USD 2.7 million for the first quarter of 2016. Net income for the first quarter of 2017 decreased to USD 25,000, or USD 0.00 per diluted share, from USD 1.4 million, or USD 0.06 per diluted share, for the first quarter of 2016. Non-GAAP net income for the first quarter of 2017 decreased 63.4% to USD 0.8 million, or USD 0.03 per diluted share, from USD 2.1 million, or USD 0.09 for the first quarter of 2016. Loss before taxes on income was USD 34,000 compared to income before taxes on income of USD 1,503,000 a year ago. Net cash provided by operating activities was USD 270,000 compared to USD 3,344,000 a year ago. Purchase of property, plant and equipment and Intangibles were USD 2,164,000 compared to USD 683,000 a year ago.