Earnings have been released. An excerpt below, full text is in PR Newswire.
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MINNEAPOLIS, Oct. 15 /PRNewswire/ -- MGI PHARMA, INC. (Nasdaq: MOGN), a pharmaceutical company, today reported a profit for the first time in company history from ongoing pharmaceutical operations for both the 1998 third quarter and the first nine months of the year. MGI PHARMA's strong results are due to a 30-percent increase in revenues (which include product sales, promotion, licensing and interest income) for the third quarter of 1998 to $4,629,745
from $3,569,284 in the 1997 third quarter. Revenues for the first nine months of 1998 jumped 37 percent to $12,620,903 from $9,200,090 for the same period in 1997.
Net income and diluted earnings per share for the 1998 third quarter were $384,514, and three cents, respectively. This compares to a net loss of $136,842, or one cent per share, for the previous year's third quarter. Net income and diluted earnings per share for the first nine months of 1998 were $216,592 and one cent, which compares with a net loss of $1,495,425, or 11 cents per share, for the same period in 1997. |
