Thursday February 25, 2:41 pm Eastern Time
Company Press Release
SOURCE: IVAX Corporation
IVAX Announces Fourth Quarter and Annual Results
Earnings From Continuing Operations Were $.15 Per Share in Q4 and $.21 for 1998; Total Earnings Were $.22 and $.60 Per Share, Respectively
MIAMI, Feb. 25 /PRNewswire/ -- IVAX Corporation (Amex: IVX - news) today reported its financial results for the fourth quarter and year ended December 31, 1998.
Net income for the fourth quarter of 1998 was $26.2 million, or $.22 per share ($17.2 million, or $.15 per share from continuing operations) on net revenues of $178.3 million, compared to a net loss of $87.7 million, or $.72 per share ($76.9 million, or $.63 per share from continuing operations) on net revenues of $132.4 million in the fourth quarter of 1997. Net income for the year ended December 31, 1998 was $71.6 million, or $.60 per share ($24.6 million, or $.21 per share from continuing operations) on net revenues of $637.9 million, compared to a net loss of $233.3 million, or $1.92 per share ($219.5 million, or $1.81 per share from continuing operations) on net revenues of $594.3 million for the year ended December 31, 1997.
Gross profit for the fourth quarter of 1998 was $70.0 million, compared to $15.8 million for the same period last year. Gross profit for 1998 was $241.2 million, compared to $114.3 million for 1997. |
