Noven Pharmaceuticals, Inc.
Statement of Operations Three Months Ended Nine Months Ended
Data:(amounts in thousands, September 30, September 30,
except per share amounts) 2000 1999 2000 1999
(Unaudited)(Unaudited) (Unaudited)(Unaudited)Revenues:
Product sales $ 11,016 $ 8,004 $ 30,807 $ 22,861
License revenue 147 56 440 169
Total revenues 11,163 8,060 31,247 23,030Expenses:
Cost of products sold 4,928 3,464 13,951 10,069
Research and development 3,307 1,585 8,687 4,727
Marketing, general
and administrative 1,980 1,800 6,369 5,446
Total operating costs
and expenses 10,215 6,849 29,007 20,242
Income from operations 948 1,211 2,240 2,788
Equity in earnings
of Novogyne 2,653 - 6,383 -
Interest income, net 306 78 773 193
Income before income taxes 3,907 1,289 9,396 2,981
Provision for income taxes 282 50 470 68
Net income $ 3,625 $ 1,239 $ 8,926 $ 2,913
Basic earnings
per share $ 0.16 $ 0.06 $ 0.41 $ 0.14
Diluted earnings
per share $ 0.15 $ 0.06 $ 0.39 $ 0.13
Weighted average number of common shares outstanding:
Basic 22,042 21,511 21,841 21,501
Diluted 23,586 21,783 23,104 21,673
As of
September 30, December 31,
Balance Sheet Data: 2000 1999
(Unaudited) (Audited)
Cash and cash equivalents $ 20,800 $ 15,338
Working capital $ 24,547 $ 16,581
Property, plant and
equipment, net $ 15,402 $ 15,329
Investment in Novogyne $ 12,520 $ 8,365
Total assets $ 70,539 $ 56,888
Deferred license revenue $ 7,588 $ 8,028
Shareholders' equity $ 52,173 $ 39,393 |
