i was wondering why fuse was doing so poorly. i thought it was just because i decided to buy some. here is an article that you may have already seen.......but it describes some company info........anyone have any feedback on this company?
Fuisz sees more than $25 mln revs from buys
CHANTILLY, Va., Oct 30 (Reuters) - Fuisz Technologies Ltd Thursday said revenues from completed acquisitions in 1997 will contribute more than $25 million in total annual revenues.
Earlier, the company reported total operating revenues for the third quarter of $2.9 million from $867,000 a year ago. Fuisz reported a net loss for the quarter, before one-time charges, of $6.5 million, or $0.31 per share due to its previously announced plan to speed up its core strategy to develop, make, and commercialize its own products by heavily investing in research and development, and expand its infrastructure. A year ago, it posted a net loss of $2.2 million or $0.11 per share.
''The operating strategies we have pursued over the last three quarters have positioned the company to begin fulfilling its vision of becoming a full service pharmaceutical and drug delivery company,'' said Ken McVey, president and chief executive officer of Fuisz.
''Toward this end, I am very pleased not only that we have been able to advance our technologies, for example, by development of CEFORM RA (rapid acting) ibuprofen microspheres, but also that we have been able to identify important connections into several of the major international markets as a result of our recent international acquisitions of Istoria Farmaceutici in Italy, Clonmel Healthcare in Ireland, and Laboratoires Murat in France.'' |
