AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
2002 JUN 13 - (NewsRx.com & NewsRx.net) -- The Female Health Company (FHCO) reported net revenues of $2,260,298 and net loss attributable to common stockholders of $14,471 ($0.00 per diluted share) for the 3 months ended March 31, 2002 compared with revenues of $1,449,297 and a net loss attributable to common stockholders of $435,269 ($0.03 per diluted share) for 3 months ended March 31, 2001.
The company posted operating income for the 3-month period ended March 31, 2002 of $240,462 compared with a $250,256 operating loss for the same period last year as a result of improved gross profit.
Net revenues increased $811,001 for the current quarter or 56%, compared with the same period last fiscal year. The higher sales volume for the second quarter was attributable to a substantial increase in shipments to domestic and global public sector customers. The results were consistent with the expectations for the quarter and demonstrate the Female Health Company's continued progress in executing its long-term strategies for growth. The company expects significant quarter-to-quarter variation due to the timing of receipt of large orders, subsequent production scheduling, and shipping of products.
Gross profit increased $504,858 or 231% to $723,096 from $218,238 for the same period last year. The improvement in gross profit resulted from the increase in net revenues coupled with a less than proportionate increase in cost of goods sold. As unit sales increase, fixed manufacturing costs do not increase, enabling the company to produce at a lower cost of goods sold per unit.
Total operating expenses for the 3-month ended March 31, 2002 increased 3% to $482,634 from $468,494 for the same period last year. Total operating expenses as a% of sales were 21% in the second quarter compared with 32% in the same prior year quarter.
The company experienced a $70,915 increase in nonoperating expenses to $222,380 for the current quarter compared with $151,465 for the ...
Source: HighBeam Research, Female Health Company reports second quarter results.(Brief Article)