Henry,CHRX,ADRX. We certainly do look forward to your posts. Biotechs are always intriguing and its one sector you really need to have the 'scientific' edge, to understand which I don't. I do own ADRX and CHRX (second time earnings play) though and have really enjoyed those two and introduced them to the thread. And now I'm thinking of CHIR
techstocks.com
techstocks.com
ChiRex Reports Financial Results For First-Quarter 1999
STAMFORD, Conn., April 28 /PRNewswire/ -- ChiRex Inc. (Nasdaq: CHRX - news) announced today first -quarter results for the period ending March 31, 1999.
For the first quarter ended March 31, 1999, the Company reported a net profit of $2.9 million, or $0.23 per share, compared to a net loss of $1.1 million; or $(0.09) per share, in the comparable period in 1998. Results in the first quarter of 1999 were significantly better than the first quarter of 1998 due to continuing improvement in performance at the Company's Dudley, England facility and increased utilization at the Annan, Scotland facility. Since its acquisition in October of 1997, the Annan facility has been under construction to convert it to a multi-product pharmaceutical fine chemical manufacturing facility.
Total revenues increased 45% to $34.2 million from $23.7 million in the first quarter of 1998. Revenues from commercial scale activities increased 38% to $30.0 million from $21.8 million, while revenues from technology and development scale activities increased 128% to $4.1 million from $1.8 million in the comparable period in 1998. Gross profit increased to $11.4 million in the first quarter of 1999, or 33% of total revenues, from $4.4 million, or 18% of total revenues in 1998. Gross profit improved due to operating leverage and better new product pricing. |
