Navigation Links
GeoPharma Announces Record Revenues in Third Quarter Results

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 administrative expenses, exclusive of depreciation

and amortization, were $5.3 million for the quarter ended December 2007

as compared to $3.7 million for the quarter ended September 2007.

Increases this quarter were attributable to higher costs related to the

addition of the DYHP acquisition in October 2007 in addition to

additional legal and accounting costs and other business expansion such

as rents, payrolls and related insurances.

-- Research and development ("R&D") expenditures for the three months

ended December 31, 2007 totaled approximately $310,000 all of which was

charged as an expense to operations as compared to $336,000 of R&D

expense for September 2007.


GeoPharma will host a conference call to discuss results on Thursday, February 14, 2008 at 11:30 (ET) with CEO, Mihir Taneja and VP/CFO, Carol Dore-Falcone. Interested parties may participate in the conference call by dialing 1-888-680-0869 and entering pass code 78555682, 5 minutes prior to the initiation of the call. A replay of the conference call will be available from 1:30 PM (ET) on February 14 through February 21, by dialing 1-888-286-8010 and entering pass code 37538422.

Webcast registration (http://phx.corporate- eventDetails&mpdp=EventId~1754335!WebCastId~724916!StreamId~1051110&pp=IROL - BasicWebCast&ppdp=EventId~1754335!WebCastId~724916!StreamId~1051110&pph=339 &pp w=270&rdu)


GeoPharma, Inc. is a rapidly growing Bio/Pharma company with a diversified business model participating in 3 main market segments: Specialty Pharma, Manufacturing, and Distribution. The Specialty Pharma division specializes in the formulation of generic drugs for human and veterinary usage and the development of medical devices used by oncologists and other medical professionals. The Manufacturing and Distribution divisions, manufacture, package, and distribute generic drugs, nutraceuticals, cosmetics, and functional food products for companies worldwide.

GeoPharma's growth strategy is to capitalize on its research and manufacturing expertise to develop medical devices and high margin generic drug products for niche markets with high barriers to entry. GeoPharma's competitive advantage in these areas is in its ability to navigate the challenges that such market pursuits present effectively.

Currently GeoPharma employs nearly 300 people and operates facilities in Florida, Maryland, Pennsylvania, Nevada, Rhode Island, and Texas utilizing over 330,000 Sq. Ft. of office, warehouse, manufacturing and laboratory facilities.

For further information visit the "For Investors" section of the GeoPharma website at


This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without management's control. Important factors that could cause such differences are described in the company's periodic filings with the Securities and Exchange Commission.




Three Months Ended Nine Months Ended

December 31, December 31,

2007 2006 2007 2006


PBM (a discontinued

operation) $-- $5,078,738 $-- $14,630,131

Distribution 11,217,987 3,374,219 14,435,258 9,869,392

Manufacturing 7,019,351 5,831,536 16,601,874 20,860,036

Pharmaceutical -- -- 41,188 251,845

Total revenues $18,237,338 $14,284,493 $31,078,320 $45,611,404

Cost of goods sold:

PBM (a discontinued

operation) -- 5,039,582 -- 14,515,619

Distribution 9,042,503 1,224,369 10,779,944 3,986,597

Manufacturing (excluding

depreciation and

amortization presented

below) 4,790,637 2,849,473 11,578,661 13,607,561

Pharmaceutical 828,743 654,640 2,402,125 813,571

Total cost of goods sold $14,661,883 $9,768,064 $24,760,730 $32,923,348

Gross profit:

PBM (a discontinued

operation) -- 39,156 -- 114,512

Distribution 2,175,484 2,149,850 3,655,314 5,882,795

Manufacturing 2,228,714 2,982,063 5,023,213 7,252,475

Pharmaceutical (828,743) (654,640) (2,360,937) (561,726)

Total gross profit $3,575,455 $4,516,429 $6,317,590 $12,688,056

Selling, general and

administrative expenses:

Selling, general and

administrative expenses 5,100,221 2,967,892 11,406,989 8,899,103

Stock option compensation

expense 266,658 427,675 687,495 1,283,025

Depreciation and

amortization 487,050 347,385 1,306,409 829,013

Selling, general and

administrative expenses 5,853,929 3,742,952 13,400,893 11,011,141

Operating income (loss)

before other income and

expense, minority

interest, income taxes

and discontinued

operations $(2,278,474) $773,477 $(7,083,303) $1,676,915

Other income (expense),


Other income (expense),

net 10,793 (410) 11,318 163,889

Interest income (expense),

net (240,311) (33,790) (313,277) (62,406)

Total other income

(expense), net $(229,518) $(34,200) $(301,959) $101,483

Income (loss) before

minority interest,

income taxes and

discontinued operations $(2,507,992) $739,277 $(7,385,262) $1,778,398

Minority interest benefit

(expense) 202,495 319,998 644,951 984,328

Income tax benefit

(expense) 729,951 (300,000) 2,415,353 (888,000)

Net income (loss) from

continuing operations $(1,575,546) $759,275 $(4,324,958) $1,874,726

Discontinued operations:

Revenues: PBM $-- $-- $2,925,139 $--

Cost of goods sold: PBM -- -- 2,904,274 --

Gross profit: PBM $-- $-- 20,865 $--

Selling, general and


expenses: PBM -- -- 20,785 --

PBM segment exit income

(expense) -- -- 8,300 --

Discontinued operations

net income (net of

income tax) $-- $-- $8,380 $--

Net income (loss) $(1,575,546) $759,275 $(4,316,578) $1,874,726

Preferred stock dividends 100,001 75,000 308,336 225,000

Net income (loss)

available to common

shareholders $(1,675,547) $684,275 $(4,624,914) $1,649,726

Basic income (loss) per

share $(0.12) $0.07 $(0.39) 0.17

Basic weighted average

number of common shares

outstanding 13,805,912 9,818,924 11,967,112 9,877,749

Diluted income (loss)

per share $(0.12) $0.06 $(0.39) $0.14

Diluted weighted average

number of common shares

outstanding 13,805,912 13,191,605 11,967,112 13,290,210

See notes to condensed consolidated financial statements.

SOURCE GeoPharma, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. GeoPharma Announces Third Quarter Conference Call
2. GeoPharma, Inc. Receives FDA Approval to Manufacture and Distribute Carprofen
3. Angiotech announces results for the fourth quarter ended December 31, 2007
4. Cell Therapeutics, Inc. (CTI) Announces Cancellation of Approximately $9.1 Million of Existing Notes due 2008
5. Warner Chilcott Announces Earnings Release Date and Conference Call for Fourth Quarter and Full Year 2007 Financial Results
6. Jazz Pharmaceuticals, Inc. Announces Fourth Quarter and Full Year 2007 Financial Results
7. NightHawk Radiology Holdings, Inc. Announces Senior Executive Departures
8. VLST Corporation Announces Board and Executive Management Appointments
9. Advance Nanotech Announces Shareholder Proxy Vote Results
10. Cellegy Pharmaceuticals Announces Signing of Definitive Merger Agreement
11. Halogen Announces Record Year - Company Solidifies Leadership Position, Secures Strategic Wins Over Competition
Post Your Comments:
(Date:2/17/2017)... ... 2017 , ... Academy of Model Aeronautics (AMA), the nation’s ... unmanned aircraft systems (UAS), are launching a joint program to promote safe and ... educational outreach efforts. , AMA and DJI will collaborate on other potential opportunities ...
(Date:2/16/2017)... Brussels, Belgium (PRWEB) , ... February 16, 2017 , ... ... Development (SIOTAD) framework primarily aimed at the agricultural industry. Pilot studies are about to ... phytosanitary products through IoT, Big Data and 5G innovations. The concept is expected to ...
(Date:2/16/2017)... 16, 2017  ImMAGE Biotherapeutics (OTCMKTS: IMMG), an early-stage biotechnology ... a better treatment for triple negative breast cancer (TNBC), announced ... France program. The YEi Start in ... to help entrepreneurs grow their business in France ... American companies selected to complete an intensive one week immersion ...
(Date:2/16/2017)... Feb. 16, 2017  MDNA Life Sciences Inc. ... of liquid biopsy tests based on the mitochondrial ... exclusive license agreement with its first international commercial ... biopsy test for prostate cancer, the Prostate Mitomic ... . This is the first overseas appointment for ...
Breaking Biology Technology:
(Date:1/25/2017)... , Jan. 25, 2017 The Elements ... Management (IAM) lifecycle is comprised of a comprehensive ... the purpose of maintaining digital identities and providing ... and applications. There are significant number of programs ... time to time by optimizing processes and changing ...
(Date:1/23/2017)... latest mobile market research from Acuity Market Intelligence reveals ... average price of a biometric smartphone decreased from $849 ... are now 120 sub-$150 models on the market at ... a year ago at an average price of $127. ... Acuity Market Intelligence Principal, "Biometric Smartphones are a global ...
(Date:1/19/2017)... , Jan. 19, 2017 Sensory ... experience and security for consumer electronics, and ... processing systems and cybersecurity solutions, today announced a ... and financial institutions worldwide to bolster security of ... end-to-end secure user authentication platforms they offer, innerCore ...
Breaking Biology News(10 mins):