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Pharmaceutical company reports growth in revenue and earnings.(KV Pharmaceutical Co.)
2002 MAR 14 - (NewsRx.com & NewsRx.net) -- KV Pharmaceutical Co. (KVa, KVb) reported that net revenues for the third quarter of fiscal 2002 increased 20%, to $52.7 million, from $43.8 million for the same period last fiscal year.
Net income increased 52%, to $8.1 million, or $0.25 per diluted share, compared with $5.4 million, or $0.17 per diluted share in the prior year period.
For the first 9 months of fiscal 2002, net revenues increased 20%, to $153.1 million, from $127.9 million in the corresponding year-ago period. Year-to-date net income of $20.8 million, or $0.65 per diluted share, was 38% higher than the $15.1 million, or $0.47 per diluted share, reported for the first 9 months of fiscal 2001.
Results for the fiscal third quarter were in line with the company's expectations as all three of its profit centers - generic and branded pharmaceuticals, and specialty material products - continued to show growth and improved results.
KV reported that for the first 9 months of fiscal 2002, gross profit increased 24% to $95.0 million, or 62% of net revenues, compared with $76.8 million, or 60% of net revenues for the same period of the prior year. Margin expansion stems from an ...
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Source: HighBeam Research, Pharmaceutical company reports growth in revenue and earnings.(KV...