Drug delivery firm reports 79% increase in revenues.

Publication: Drug Week

Bookmark this article Print this article Link to this article Email this article Digg It! Add to del.icio.us RSS

COPYRIGHT 2003 NewsRX

2003 AUG 29 - (NewsRx.com & NewsRx.net) -- Cima Labs, Inc., (CIMA) reported record results for the second quarter ended June 30, 2003.

Highlights include the following:

1) Revenues increased 79% year-over-year to $18.3 million, from $10.2 million in the second quarter of 2002, and rose 10%sequentially from $16.7 million in the first quarter of 2003.

2) Operating income was $4.2 million (23.2% of revenue), a 117%increase from the second quarter of 2002. In addition, CIMA's operating income increased 10% sequentially from $3.9 million(23.2% of revenues) in the first quarter of 2003, despite higher-than-anticipated legal costs associated with a patent defense claim.

3) Other income, principally investment income, declined approximately 56% year-over-year to $849,000 in the second quarter of 2003...

Read the full article for free courtesy of your local library.