Vol heavy at noon at 115,000...stock up slightly at 1 3/8 by 1 7/16...activity due to this release yest:
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(COMTEX) A: BRADLEY PHARMACEUTICALS REPORTS STRONG FIRST QUARTER SALE
A: BRADLEY PHARMACEUTICALS REPORTS STRONG FIRST QUARTER SALES & EARNINGS;
Earnings Increase 38% in the Quarter
FAIRFIELD, N.J., April 28 /PRNewswire/ -- BRADLEY PHARMACEUTICALS,
INC. (Nasdaq: BPRX) today announced earnings of $556,000 or $0.07 per
share (diluted) for the First Quarter ended March 31, 1999. This
compares with $404,000 or $0.04 (diluted) for the corresponding period
last year, an earnings increase of approximately 38%, resulting in an
earnings per share increase of approximately 75%. Net sales for First
Quarter 1999 were $5.1 million compared with $4.2 million for the same
period last year, an increase of 21%.
The Company's operating units, Doak Dermatologics and Kenwood
Therapeutics, both contributed to increased sales and earnings. First
Quarter 1999 showed a strong increase in the sales of Doak
Dermatologics' Carmol(R) family of urea-based therapies as well as Acid
Mantle(R) skin acidifier and, exceeding expectations, the contribution
from Kenwood Therapeutics' Brontex(R) potent cough suppressant.
Chairman and Chief Executive Officer, Daniel Glassman, stated: "With
renewed focus on the Company's core physician relationships and
increased investment in key brands, we are realizing net market share
gains through targeted marketing and sales activities. In addition, we
are actively pursuing comparative clinical research data to enhance the
competitive marketing of certain products. With these results, the
progress we have made in field force expansion to a presence exceeding
80-strong and the major asset-based and acquisition line of credit
financing recently completed with LaSalle Business Credit, Inc.,
Bradley is gathering strength to reach milestones as an emerging
specialty pharmaceutical company."
The First Quarter conference call is tomorrow at 8:30 a.m. (ET), please
dial 1-800-340-5809 after 8:20 a.m. to participate.
BRADLEY PHARMACEUTICALS, INC. markets brandname products,
over-the-counter pharmaceuticals and health-related products throughout
the United States as well as in 27 international markets. Bradley
Common A Shares (BPRX) are traded on the NASDAQ National Market System.
Please visit Bradley Pharmaceuticals' website at www.bradpharm.com.
This release may contain forward-looking statements that reflect
management's current views of future events and operations. These
forward-looking statements are based on assumptions and external
factors, including assumptions relating to regulatory action, capital
requirements and competing products. Any changes in such assumptions
are external factors and could produce significantly different results.
BRADLEY PHARMACEUTICALS, INC.
Condensed Consolidated
Statements of Operations
Unaudited
Three Months Ended
March 31,
1999 1998
Net sales $5,128,470 $4,241,281
Cost of sales 1,309,227 1,314,797
3,819,243 2,926,484
Selling, general and
administrative expenses 2,538,184 1,970,327
Depreciation and amortization 323,006 273,434
Interest expense - net 74,728 42,167
2,935,918 2,285,928
Income before
income taxes 883,325 640,556
Income tax 327,000 237,000
Net income $556,325 $403,556
Net income
per common share
Basic $0.07 $0.05
Diluted $0.07 $0.04
Weighted average number
of common shares
Basic 8,120,000 8,466,000
Diluted 8,192,000 9,316,000
SOURCE Bradley Pharmaceuticals, Inc.
-0- 04/28/99 /CONTACT: Daniel Glassman,
Chairman and Chief Executive Officer of Bradley Pharmaceuticals, Inc.,
973-882-1505, ext. 210/
/Web site: bradpharm.com (BPRX)
CO: Bradley Pharmaceuticals, Inc. ST: New Jersey IN: MTC SU: ERN
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