CIMA LABS Expects Fourth Quarter Earnings and Revenues Toward Upper End Of Previously-Reported Financial Guidance.Business Editors EDEN PRAIRIE Eden Prairie A city of eastern Minnesota, a residential suburb of Minneapolis. Population: 57,300. , Minn.--(BUSINESS WIRE)--Jan. 6, 2003 CIMA LABS INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (Nasdaq:CIMA) today announced that earnings and operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. for the fourth quarter of 2002 ended December 31 are expected toward the upper end of its previously-reported financial guidance for this period. In its third quarter earnings release on October 31, the Company said it anticipated fourth quarter earnings in the range of $0.41 to $0.44 per diluted share on operating revenues of $14.0 to $15.0 million. The Company said its fourth quarter outlook reflects in part the positive impact of royalties generated by the market introduction of Alavert(TM) (loratadine orally disintegrating tablet The Food and Drug Administration's (FDA) definition of an orally disintegrating tablet (ODT) is: "A solid dosage form containing medicinal substances which disintegrates rapidly, usually within a matter of seconds, when placed upon the tongue. , 10mg) by Wyeth Consumer Healthcare on December 20, 2002. The Company said that the other components of its business, including product sales and partner-funded R&D projects, also continued at planned levels during the fourth quarter. About CIMA LABS CIMA develops and manufactures prescription and over-the-counter products based upon its proprietary, fast-dissolve drug delivery technologies, OraSolv(R) and DuraSolv(R). Based on our technologies, an active drug ingredient, which we frequently taste-mask, is formulated into a new, orally disintegrating dosage form A dosage form is the physical form of a dose of medication, such as a capsule or injection. The route of administration is dependent on the dosage form of a given drug. that dissolves quickly in the mouth without chewing or the need for water. CIMA's business involves a dual operating strategy. We develop and manufacture fast-dissolve versions of drugs for pharmaceutical company partners for whom we currently produce three branded prescription pharmaceuticals and three over-the-counter brands. CIMA is also developing proprietary products utilizing our fast-dissolve technologies, as well as our new OraVescent(R) enhanced absorption, transmucosal drug delivery system. Cautionary Statement This press release, including the information related to CIMA's expectations about anticipated fourth quarter earnings, contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. A number of factors could cause actual results to differ materially from CIMA's assumptions and expectations. These factors include consumer acceptance of CIMA's products, the receipt of firm orders for CIMA's products, the success of pharmaceutical companies in marketing CIMA's products, production costs, production yields, capacity utilization Capacity Utilization measures the rate at which a firm makes use of their capital productive capacities, such as factories and machinery. Capacity Utilization generally rises when the economy is healthy and falls when demand softens. of product development and manufacturing resources, and returns on investments. Additional factors that may cause actual results to differ from CIMA's assumptions and expectations include those set forth under the heading "Factors That Could Affect Future Results" included in CIMA's most recent filings with the Securities and Exchange Commission. All forward-looking statements are qualified by, and should be considered in conjunction with, such cautionary statements. |
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