Lee Pharmaceuticals Announces Year-End Results
LOS ANGELES, Dec. 26 /PRNewswire/ -- Lee Pharmaceuticals
(OTC Bulletin Board: LPHM) reported results for fiscal year ended September
30, 1997, as compared to fiscal year ended September 30, 1996.
Net revenues increased during fiscal 1997 by $1,878,000 or 27% when
compared to fiscal 1996. The increase in net revenues was the result of sales
of the newly acquired brand acquisitions. The newly acquired brand
acquisitions accounted for $2,272,000 or 26% of the Company's total net
revenues. The aforementioned sales volume increase was partially offset by a
decline in the other brands. Also, the Company's sales returns decreased
approximately $321,000 or 27% when comparing fiscal years 1997 and 1996.
The net sales volume increase to $8,815,000 from $6,937,000 was the basic
contributing factor for the Company ending the current fiscal year with a
nominal profit.
On September 8, 1997, the Company purchased certain assets of the
Klutch(R) denture adhesive powder line from I. Putnam, Inc. |
