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Biotech / Medical : Elan Corporation, plc (ELN) -- Ignore unavailable to you. Want to Upgrade?

To: blankmind who wrote (659)	11/11/1999 12:38:00 AM
From: blankmind	Read Replies (1) \| Respond to of 10345

DRAXIS Health Reports Third Quarter Results (see bold) Wednesday November 10, 12:31 pm Eastern Time Company Press Release MISSISSAUGA, Ontario--(BUSINESS WIRE)--Nov. 10, 1999-- (NASDAQ:DRAX - news; TSE:DAX. - news) DRAXIS Health Inc. (TSE: DAX - news; NASDAQ: DRAX - news) today reported results for the third quarter ended September 30, 1999. Quarterly revenues of $9,352,000 decreased 4.8% over the comparable period in 1998 while year to date revenues of $31,529,000 increased 28.6%. The EBITDA loss in the quarter of $770,000 improved from a loss of $963,000 in 1998. Year to date EBITDA of $1,620,000 compares with a loss of $2,862,000 in 1998. Net loss for the quarter of $1,550,000, or $0.04 per share, compares with a loss in 1998 of $1,268,000, or $0.04 per share. On a year to date basis, excluding the write-off of product rights in the second quarter, the loss was $1,011,000, or $0.03 per share, compared with a loss of $3,380,000, or $0.11 per share, in 1998. In commenting on the third quarter results, Dr. Martin Barkin, President and Chief Executive Officer of DRAXIS, stated: ``During the quarter, the Company continued to focus on and develop the potential of it core operating platforms. All major capital projects were advanced on schedule, including the radiopharmaceutial laboratories, lyophilization facility, and the integrated enterprise resource planning (ERP) system. Two of our pipeline products, Amiscan (TM) and Fibrimage (R), were the subject of favourable clinical presentations and the Company prepared to launch the first of the Elan products. Significant progress was also achieved on a number of business agreements which have since been finalized in October and November. Third quarter financial results were affected by a number of non-recurring production delays and lower than expected sales levels of Anipryl (R).' biz.yahoo.com