Printer Friendly

COLUMBIA LABORATORIES REPORTS EXPECTED FIRST QUARTER 1993 FINANCIAL RESULTS

 HOLLYWOOD, Fla., May 14 /PRNewswire/ -- Columbia Laboratories, Inc. (AMEX: COB) today reported net sales of $2,249,751, for the first quarter ending March 31, 1993, as compared to net sales of $2,161,352 during the same quarter last year. The net loss for the 1993 quarter was $1,757,680, or $.09 per share, as compared to a net loss of $791,467, or $.05 per share, in the comparable 1992 quarter. The 1992 loss, however, was minimized by a one time upfront licensing fee of $2 million, or $.12 per share.
 "During the quarter, 15 additional clinical studies relating to Columbia's spermicide (Advantage 24(TM)) and progesterone products were initiated in major university centers throughout the world. Both of these new products utilize Columbia's patented bioadhesive delivery system, and the clinical development programs for them are advancing favorably," said Norman M. Meier, Columbia's president and chief executive officer. "This expanded clinical program reflects Columbia's strategy of increasing R&D while significantly decreasing selling, general and administrative expenses," he said.
 Meier noted that in December 1992, the company received a General Sales License for Replens(R) in the United Kingdom and recently submitted multi-state registrations throughout Europe for Replens. If granted, these European registrations will enable Columbia's marketing partners to expand their promotional claims for Replens, and in many countries will make Replens reimbursable as a health care product.
 Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company, established in 1987, dedicated to developing on a worldwide basis a portfolio of women's prescription and over-the- counter products which utilize the company's patented bioadhesive delivery technology.
 COLUMBIA LABORATORIES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 Three Months Ended March 31,
 1993 1992
 NET SALES $2,249,751 $2,161,352
 COST OF GOODS SOLD 1,407,710 853,714
 Gross profit 842,041 1,307,638
 OPERATING EXPENSES:
 Selling and distribution 723,181 1,149,051
 General and administrative 929,253 1,356,673
 Research and development 923,945 554,446
 Total operating expenses 2,576,379 3,060,170
 Loss from operations (1,734,338) (1,752,532)
 OTHER INCOME (EXPENSE):
 License fees, net --- 2,000,000
 Interest income 29,574 50,211
 Interest expense (10,224) (112,132)
 Guaranteed return to minority
 shareholders of subsidiary --- (647,011)
 Other, net (42,692) (330,003)
 (23,343) 961,065
 Net loss $(1,757,680) $ (791,467)
 NET LOSS PER COMMON SHARE $ (.09) $ (.05)
 WEIGHTED AVERAGE NUMBER OF
 COMMON SHARES OUTSTANDING 20,462,000 16,588,000
 -0- 5/14/93
 /CONTACT: Margaret J. Roell, chief financial officer of Columbia Laboratories, Inc., 305-985-6545/
 (COB)


CO: Columbia Laboratories, Inc. ST: Florida IN: MTC SU: ERN

JB-MM -- FL009 -- 8703 05/14/93 14:33 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 14, 1993
Words:456
Previous Article:BELMAC REPORTS RECORD SALES FOR FIRST QUARTER 1993
Next Article:ECOLAB DECLARES DIVIDEND; SHAREHOLDERS ELECT DIRECTORS; RATIFY APPOINTMENT OF INDEPENDENT ACCOUNTANTS
Topics:


Related Articles
COLUMBIA LABORATORIES REPORTS FIRST QUARTER 1992 RESULTS; NET LOSS DROPS 58 PERCENT, MULTINATIONAL PARTNERS MARKET REPLENS
COLUMBIA LABORATORIES REPORTS SECOND QUARTER SALES INCREASE 24 PERCENT AND NET LOSS DECREASES 51 PERCENT
PHARMAKINETICS LABORATORIES, INC., RELEASES FIRST QUARTER RESULTS
COLUMBIA LABORATORIES REPORTS THIRD QUARTER NET LOSS DECREASES 43 PERCENT AND YEAR TO DATE LOSS DECREASES 49 PERCENT
BARR LABORATORIES RELEASES FIRST QUARTER FINANCIAL RESULTS
COLUMBIA LABORATORIES REPORTS 1992 FINANCIAL RESULTS; NET LOSS SIGNIFICANTLY DECREASED
GENSIA REPORTS 1993 FIRST QUARTER RESULTS
INTERPHARM LABORATORIES LTD. REPORTS 1993 FIRST QUARTER RESULTS
A. L. LABORATORIES REPORTS THIRD QUARTER AND NINE MONTH RESULTS
BARR LABORATORIES RELEASES FIRST QUARTER FINANCIAL RESULTS

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters