Wednesday March 31, 7:05 pm Eastern Time
Duramed Q4 shr loss narrows
CINCINNATI, March 31 (Reuters) -
Year Ended Fourth Quarter Ended
December 31 December 31
1998 1997 1998 1997
(in thousands except per
share amounts and shares
outstanding)
Net sales $49,759 $44,296 $14,087 $10,752
Cost of goods sold
37,333 33,468 10,355 8,739
Gross profit 12,426 10,828 3,732 2,132
Operating expenses:
Product development
5,282 15,961 1,446 3,035
Selling, general &
administrative
13,181 10,909 3,331 2,515
Operating loss (6,037) (16,042) (1,045) (3,537)
Interest expense 2,360 1,399 663 496
Loss before income taxes
(8,397) (17,441) (1,708) (4,033)
Income tax provision -- -- -- --
Net loss (8,397) (17,441) (1,708) (4,033)
Preferred dividends 517 170 125 29
Net loss applicable to
common shareholders
(8,914) (17,611) (1,833) (4,062)
Net loss per share
(basic and diluted):
(0.49) (1.14) (0.10) (0.24)
Weighted average number
of common and common
equivalent shares
outstanding:
18,150,494 15,510,890 18,810,674 17,152,060
Note: Full company name is Duramed Pharmaceuticals Inc.
Recognition of outstanding stock options and warrants for
the purpose of computing the weighted average number of common
shares outstanding was not required due to reported losses, as
their effect would be anti- dilutive.
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