Enzymotec Ltd. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, net revenues increased 23.6% to $14.0 million from $11.3 million for the first quarter of 2015. The increase was primarily due to an increase of $1.4 million in InFat sales (proportionate consolidation method), an increase of $1.0 million in sales of VAYA Pharma products and increase of $0.7 million in sales of PS products, partially offset by decreased sales of krill products of $0.3 million. Adjusted EBITDA increased 2.2% to $2.74 million from $2.68 million for the first quarter of 2015. The increase was driven by an increase in the Adjusted EBITDA of the Nutrition segment of $1.2 million (as a result of increased revenues and increased gross profit margin) partially offset by a decrease in the Adjusted EBITDA of the VAYA Pharma segment of $1.1 million (as a result of increased operating expenses partially offset by increased revenues). Net income decreased to $1.4 million, or $0.06 per diluted share, from $1.7 million, or $0.08 per diluted share, for the first quarter last year. The decrease was primarily as a result of increased selling and marketing expenses and an increase in research and development expenses mainly in the VAYA Pharma segment as well as an increase of $0.3 million in share- based compensation expense, partially offset by the increase in net revenues and gross profit margin in both segments. Non-GAAP net income totaled $2.1 million, or $0.09 per diluted share, equal to the first quarter of 2015. Operating income was $1,349,000 against $1,651,000 a year ago. Income before taxes on income was $1,503,000 against $1,750,000 a year ago. Net cash provided by operating activities was $3,344,000 against $3,148,000 a year ago. Purchase of property, plant and equipment was $683,000 against $818,000 a year ago.