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INTERPHARM LABORATORIES LTD. REPORTS REVENUES AND INCOME FOR THE THIRD QUARTER OF 1993

 NESS-ZIONA, ISRAEL, Nov. 11 /PRNewswire/ -- InterPharm Laboratories Ltd. (NASDAQ: IPLLF) today reported revenues of U.S. $13.2 million for the quarter ending Sept. 30, 1993, an increase of 2.6 percent over revenues of $12.9 million in the comparable period in 1992. Gross profits for the period increased by 62 percent, to $5.2 million compared with $3.2 million in the comparable period in 1992. Net income for the period increased by 34 percent, to $2.4 million or 38 cents per share, compared with $1.8 million or 28 cents for the same period last year.
 Revenues, gross profit and net income were positively influenced by the recognition of $2.0 million revenues received from the company's affiliate, Ares Trading, in consideration for the sale of a recombinant beta-interferon working cell bank.
 "Excluding this $2 million amount, revenues in this quarter were down by 13 percent compared to the comparable quarter last year, as a result of the pressure to reduce health cost in Europe, especially in Italy -- our main market and cancellation of export incentives in Israel. However, gross margin improved from 25 percent to 29 percent, due to continuous efforts for production improvement," said Alex Kotzer, president of the company. "At the same time, operating and net income were lowered by substantially increased net Research and Development (R&D) expenses. This increase was a result of massive R&D investments in RBIF (Recombinant Beta Interferon) towards full-scale production together with reduced outside participation," added Kotzer.
 Revenues for the nine months ending Sept. 30, 1993 were $38.5 million compared with $36.3 million for the same period last year, an increase of 5.9 percent. Net income for the period was $4.8 million or 77 cents per share compared with $4.7 million or 75 cents per share in 1992.
 Capital expenditures in the first nine months of 1993 were $9.7 million. Since the beginning of 1991, when extensive investments in our production facilities started, capital expenditures have totalled $33.7 million. "In recent months, we continued to invest extensively in the construction of a new biotechnological manufacturing plant in our existing facilities for the production of RBIF," said Kotzer.
 On Sept. 28, The Ares-Serono Group announced the initiation of Phase II/III clinical trials with RBIF, for the treatment of relapsing- remitting Multiple Sclerosis. The multi-center trials will include Europe, North America and Australia.
 InterPharm Laboratories Ltd. is a member of The Ares-Serono Group, a worldwide developer and marketer of pharmaceutical and diagnostic products, with executive headquarters in Geneva, Switzerland. The Group operates subsidiaries and manufacturing facilities in more than 20 countries.
 Below is a summary of unaudited comparative results. All amounts are in thousands of U.S. dollars (except for share data and number of shares).
 Three Months Six Months
 Ended Sept. 30 Ended Sept. 30
 1993 1992 1993 1992
 Revenues 13,246 12,907 38,482 36,325
 Operating Profit 2,441 1,812 5,067 4,506
 Financial Expense, Net 75 54 265 136
 Net Income 2,366 1,766 4,802 4,701
 Earns. per Ordin. Share 0.38 0.28 0.77 0.75
 Weighted Average No.
 of Ordinary Shares
 Oustng. 6,242,385 6,242,385 6,242,385 6,242,385
 -0- 11/11/93
 /CONTACT: Gina M. Cella of Ares-Serono, 617-982-9000/
 (IPLLF)


CO: InterPharm Laboratories Ltd.; Ares-Serono, Inc. ST: Massachusetts IN: MTC SU: ERN

CM-JL -- NE013 -- 3429 11/11/93 17:42 EST
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Date:Nov 11, 1993
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