Printer Friendly

HAUSER REPORTS REVENUES AND EARNINGS SHARPLY UP FOR FIRST QUARTER OF FISCAL 1993

 HAUSER REPORTS REVENUES AND EARNINGS SHARPLY UP
 FOR FIRST QUARTER OF FISCAL 1993
 BOULDER, Colo., Sept. 14 /PRNewswire/ -- Hauser Chemical Research Inc. (NASDAQ: HAUS) announced today operating results for the first quarter of fiscal 1993 ended July 31, 1992. Total revenues were $18,318,914 for the first quarter of fiscal 1993 compared to $8,496,652 for the first quarter of fiscal 1992. Net income was $2,225,638, compared to $861,200, for the first quarter of fiscal 1992. Fully diluted earnings per share for the first quarter of fiscal 1993 were 21 cents compared to 10 cents for the first quarter of fiscal 1992.
 Natural product processing services and technical services accounted for revenues of $17,834,618 and $484,296, respectively, in the first quarter. The increase in revenues from first quarter of fiscal 1992 resulted primarily from increased taxol-related services to Bristol- Myers Squibb Co. (Bristol) (NYSE: BMY), which increased from $7,808,916 for the first quarter of fiscal 1992, to $17,552,781 for the first quarter of fiscal 1993. Of this amount, $12,117,878 was related to revenues from bark collection services, an increase from $6,789,025 reported for the first quarter of fiscal 1992.
 Hauser recently announced that Bristol has requested it to more than double its capacity for production of bulk taxol between now and August of 1994. The Bristol commitment increased the expected revenues under the agreement from $56,000,000 to over $100,000,000.
 According the chief financial officer, William E. Paukert, "We have just completed a very strong quarter which reflects our expanded efforts in taxol production. We are totally committed to providing Bristol with as much taxol as possible, as quickly as possible to meet their needs for the anticipated marketplace. With the increased commitments from Bristol, the next two years look very positive."
 The increased revenues from bark collection services in the first quarter of fiscal 1993 reflect bark collection at increased volumes and higher prices. The company anticipates second quarter of fiscal 1993 revenues from bark collection services to decline substantially from first quarter of fiscal 1993 due to the normal seasonal nature of Pacific yew bark collection and weather conditions which limited access to the forests, and therefore the amount of bark collected in August. The company still anticipates that bark revenues in the second quarter of fiscal 1993 will exceed the second quarter of fiscal 1992 because of volume and price increases. The decline in bark revenues anticipated in the second quarter compared to the first quarter is expected to be substantially offset by increased revenues from taxus resin and bulk taxol production.
 Hauser Chemical Research is a chemical processor, specializing in the extraction and purification of high value natural products using its proprietary technologies. The company provides interdisciplinary laboratory testing services, chemical engineering services and contract research and development through its Hauser Laboratories Division. The company is based in Boulder.
 HAUSER CHEMICAL RESEARCH INC.
 Recap of Revenues and Earnings
 Three Months Ended
 July 31,
 1992 1991
 Total revenues $18,318,914 $8,496,652
 Net income $2,225,638 $861,200
 Fully diluted earnings
 per share $.21 $.10
 -0- 9/14/92
 /CONTACT: Dean P. Stull or William E. Paukert of Hauser Chemical Research, 303-443-4662/
 (HAUS) CO: Hauser Chemical Research Inc. ST: Colorado IN: MTC SU: ERN


MC-BB -- DV006 -- 9198 09/14/92 13:40 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 14, 1992
Words:568
Previous Article:THE DRESS BARN, INC. REPORTS AUDITED FISCAL YEAR FINANCIAL RESULTS
Next Article:ADVANCED TISSUE SCIENCES INC. REPORTS SECOND QUARTER RESULTS
Topics:


Related Articles
HAUSER ANNOUNCES OUTSTANDING FISCAL YEAR END RESULTS AND NEW SEMI-SYNTHETIC PROCESSES FOR TAXOL PRODUCTION
HAUSER REPORTS REVENUES AND EARNINGS DOUBLED FOR SECOND QUARTER OF FISCAL 1993
HAUSER ANNOUNCES THIRD QUARTER RESULTS; REVENUES INCREASED 222 PERCENT
LANDAUER, INC. REPORTS SECOND QUARTER EARNINGS
HAUSER ANNOUNCES OUTSTANDING FISCAL YEAR END RESULTS
LANDAUER, INC. REPORTS THIRD QUARTER EARNINGS
HAUSER REPORTS CONTINUED GROWTH FOR FIRST QUARTER FISCAL 1994
HAUSER REPORTS SECOND QUARTER FISCAL 1994 AND PACLITAXEL (TAXOL) AND FLAVOR BUSINESS PROGRESS
HAUSER ANNOUNCES 3RD QUARTER RESULTS, NET INCOME INCREASED 19%
HAUSER REPORTS FIRST QUARTER RESULTS - SOME PACLITAXEL REVENUES DELAYED

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters