LARGO, Fla., Feb. 14 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (Nasdaq: GORX) announced record revenues of $18.2 million for the third quarter representing more than a 200% increase in sales sequentially, as it reported financial results for the three and nine month periods ending December 31, 2007.
"We are pleased to report greatly improved financial results for the
third quarter of our 2008 fiscal year; it demonstrates the benefit of the
earlier executed Dynamic Health Products acquisition and showcases
significant progress in our efforts to achieve critical mass of over 100
million dollars in revenues for our 2009 fiscal year which ends in March of
2009," stated GeoPharma CEO Mihir Taneja. "Although we are pleased with our
financial progress, the third quarter was full of challenges that weighed
on our results, which provides us with further confidence that we will see
continued strength in the fourth quarter and the foreseeable future."
Q3 Financial Summary
-- Total revenues for the third quarter ended December 31, 2007 were $18.2
million as compared to the second quarter continuing operation revenues
for the three months ended September 30, 2007 of $6.0 million, an
increase of 203%.
-- Total revenues for the nine months ended December 31, 2007 were $34
million, an increase of 116% over the six months ended September 30,
-- Gross Profits for the third quarter ended December 31, 2007 increased
200% to $3.6 million as compared to the continuing operations gross
profits for the second quarter ended September 30, 2007 of $1.2
-- Net loss for the December quarter 2007 was $(1.675) million as compared
to the September 2007 net loss of $(1.9) million. Net loss per share
for the December quarter 2007 was $(0.12) as compared to the September
2007 quarter net loss of $(0.16).
-- Selling, general and adm
|SOURCE GeoPharma, Inc.|
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