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Biotech / Medical : Duramed (DRMD) Synthetic Estrogen Product
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To: kevin kirkendall who started this subject10/3/2000 5:53:00 PM
From: vestor  Read Replies (1) of 1837
 
Duramed expects Q3 results to improve over Q2
CINCINNATI, Oct 3 (Reuters) - Drugmaker Duramed Pharmaceuticals Inc. (NASDAQ: DRMD) said on Tuesday that it expects "to show improvement" in both net revenue and net income for the third quarter compared to the second quarter of this year.

Duramed, which made similar comments at last month's annual meeting, earned 1 cent per share in the second quarter on net revenue of $20.7 million. In last year's third quarter the company reported a loss of $1.24 per share on net revenue of $11.1 million.

"Our stated goal continues to be achieving predictable profitability on a growing base of sales," E. Thomas Arington, Duramed chairman and chief executive officer, said in a statement.

"We are pleased with the expected revenue and profit increases from the second to the third quarter and we look forward to building on that momentum in the fourth quarter and beyond."

Duramed, which develops, manufactures and markets prescription drug products, said it expects to release final third quarter results before the end of October.

Shares of Duramed traded up 1/4, or 4 percent, to $6 on the Nasdaq in early afternoon activity, below a year high of $13-7/16 and above a 52-week low of $4-1/4.
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