Here is another one!!
ATHEON ANNOUNCES FIRST QUARTER RESULTS
1997-03-24
MISSISSAUGA, ONTARIO
Patheon Inc. (TSE, PTI) announced today its results for the first
quarter ended January 31, 1997.
First quarter revenues increased 22% to $9,828,000 compared to
$8,047,000 a year ago. Net earnings for the period increased 74%
to $423,000 compared to $243,000 in 1996. However, because of
the dilution arising from the equity issue in November of 1996,
earnings per share of 1.2 cents were only slightly higher than
1.1 cent a share in the previous year. In accordance with the
new disclosure rules on accounting for financial instruments,
earnings for 1996 have been restated to include preferred
dividends, in the amount of $20,000 as interest. The Company's
proportionate share of the operating results of Global Pharm Inc.
are included.
PERIOD ENDED REVENUES NET EARNINGS EPS$
January 31, 1997 $000's Chg % $000's Chg % Current Yr.
Ago
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1st Quarter 9,828 +22 423 +74 .012 .011
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Operating earnings in the first quarter increased 24% as a result
of higher revenues from both commercial manufacturing and
pharmaceutical drug development services.
The outlook continues to be favourable. Outstanding orders at
January 31, 1997, for delivery in subsequent months, were 28%
higher than a year ago reflecting, in part, new orders for the
Syntex Court facility.
Patheon Inc. is one of North America's leading independent
providers of manufacturing and drug development services in the
rapidly growing pharmaceutical outsourcing sector. With the
recent acquisition of the Hoffmann-La Roche manufacturing
facility in Mississauga, Ontario, the Company and its 48%-owned
Global Pharm affiliate operate five cGMP facilities in Canada
employing over 400 people. Patheon serves nine of the world's
ten largest pharmaceutical companies.
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Source: Patheon Inc.
Contact: Mr. Robert Tedford
Chief Executive Officer
Tel: (905) 812-6760
Fax: (905) 812-6769
Earnings per share is down-now I see the hold-up but be patient-John |
