KV Pharmaceutical net revenues up 23% to $87.4 million

By Lisa Kerner

Charlotte, N.C., June 14 - KV Pharmaceutical Co. reported net revenues for the fourth quarter ended March 31 were $87.4 million, up 23% from the $71.2 million for the fourth-quarter 2005.

For the fiscal year, net revenues increased 21% to $367.6 million from $303.5 million in fiscal 2005.

Net income for the quarter of $11.8 million increased from a net loss of $0.5 million for the same period last year, while net income for the year decreased 53% from the previous year, to $15.8 million from $33.3 million.

Diluted earnings per share of $0.21 for the quarter were up from a loss of $0.01 per diluted for the same period last year. The company reported diluted earnings per share of $0.31 for the year, down 51% from the $0.63 for fiscal 2005.

"KV had a strong finish to 2006 with each of the company's business units reporting revenue growth in the fourth quarter," chief executive officer Marc S. Hermelin said in a company news release.

"Our branded business, Ther-Rx continues to show excellent revenue growth rates, driven by our leading women's health products as well as new product introductions in the iron replenishment category."

Located in St. Louis, KV develops, manufactures and markets branded and generic/non-branded prescription pharmaceutical products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.