Navigation Links
Neuland Labs Reports Third Quarter Fiscal Year 2012 Financial Results
Date:2/10/2012

HYDERABAD, India, Feb. 10, 2012 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE: NEULANDLAB; BOM: 524558) a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and contract research and manufacturing services to customers located in 85 countries, today announced financial results for the third quarter of fiscal year (FY) 2012, ended December 31, 2011.

Revenues for the third quarter of FY 2012 were $21.6 million (1.10 billion INR*) compared to revenues in the third quarter of FY 2011 of $19.0 million (968 million INR), an increase of about 13.7%.  The increase in revenues primarily reflects gains in sales of the company's products and services from its API, contract research and manufacturing, and peptides synthesis businesses.

Neuland reported EBITDA of $1.85 million (94.50 million INR) in the third quarter of FY 2012, compared to EBITDA of $2.19 million (111.85 million INR) in the comparable period in FY 2011, a decrease of about 15.5%.  The decrease in EBITDA in the current quarter primarily reflects higher materials and labor costs compared to the year-earlier period.

The company reported an after-tax loss in the third quarter of FY 2012 of ($0.67 million), (negative 34.00 million INR), compared to after-tax profits of $ 0.82 million (41.59 million INR) in the third quarter of FY 2011.  The loss reported in the third quarter of FY 2012 partly reflects non-cash, unrealized losses on foreign exchange rate hedges.

"In the third quarter of FY 2012 we reported good sales growth compared to the same period in FY 2011," noted Dr. D.R. Rao, Chairman and Managing Director of Neuland Labs.  "However, rising materials and labor costs, along with non-cash, unrealized expenses primarily associated with managing our foreign exchange needs generated a small loss for the quarter."

"We are pleased that Neuland increased its revenues in the third quarter of this year compared with our top-line results in fiscal 2011," said Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs.  "We intend to continue our strategy of growing both our established and newer lines of business, which build on Neuland's reputation for quality, service and innovation."

For a complete set of Neuland's FY 2012 and FY 2011 financial data, visit http://neulandlabs.com/about/financials.html.Neuland Laboratories is listed on India's National Stock Exchange under the symbol NEULANDLAB and on the Bombay Stock Exchange under code 524558 and the symbol Neuland.EO.* = Indian rupees

Neuland Laboratories Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an offer on a rights basis of its equity shares in the near future and has filed a Draft Letter of Offer in this regard with the Securities and Exchange Board of India (SEBI) on 30th September 2011.  It is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Manager at www.sbicaps.com.

About Neuland Labs
For over 25 years Neuland Labs has been at the forefront of supporting drug development through its consulting services and its cGMP contract and API manufacturing.  The company is committed to research, supporting a state-of-the-art R&D operation.  Neuland Labs scientists have developed more than 300 processes from bench scale to commercial production and filed more than 400 drug master files worldwide.  Its manufacturing facilities are inspected and approved by the FDA and other leading regulatory agencies.  Its record of quality manufacturing and reliability is highlighted by cGMP certifications that include the FDA, TGA, EDQM, German Health Authority, ISO 14001, ISO 27001 and OHSAS 18001.  For more information, visit www.NeulandLabs.com Contacts:

 Neuland Laboratories Ltd.

US MediaNS Viswanathan

BioCom Partners/Brandwidth SolutionsVice President- Finance

Barbara Lindheim+91 40 30211600

+1 212 584-2276 x201nsviswanathan@neulandlabs.comblindheim@biocompartners.com


'/>"/>
SOURCE Neuland Laboratories Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Cepheid Reports Fourth Quarter and Full Year 2011 Results
2. Covance Reports Fourth Quarter Revenue of $532M, GAAP EPS of $0.35, Pro Forma EPS of $0.73, and Adjusted Net Orders of $759M
3. Quest Diagnostics Reports Fourth Quarter 2011 Financial Results; Provides Guidance for 2012
4. Idenix Reports Positive Interim Data for HCV Nucleotide Inhibitor, IDX184
5. Idenix Reports Advancement of HCV Development Pipeline
6. Hemodialysis Machine Industry 2012 Global & China Market Research Report - ReportsnReports
7. Neogen Reports Second Quarter Results
8. ReportsnReports - Aseptic Packaging to 2015
9. Biodel Reports Fourth Quarter Fiscal Year 2011 Financial Results
10. Hadasit Bio-Holdings Ltd. Reports Significant External Financing for Portfolio Companies
11. WaferGen Reports Third Quarter 2011 Financial Results and Announces New Commercialization Strategy
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016 Epic Sciences unveiled a liquid ... to PARP inhibitors by targeting homologous recombination deficiency ... new test has already been incorporated into numerous ... types. Over 230 clinical trials are ... including PARP, ATM, ATR, DNA-PK and WEE-1. Drugs ...
(Date:6/24/2016)... ... ... Researchers at the Universita Politecnica delle Marche in Ancona combed medical journal articles ... findings are the subject of a new article on the Surviving Mesothelioma website. ... blood, lung fluid or tissue of mesothelioma patients that can help point doctors to ...
(Date:6/23/2016)... WI (PRWEB) , ... June 23, 2016 , ... ... supplements, is pleased to announce the launch of their brand, UP4™ Probiotics, into ... for over 35 years, is proud to add Target to its list of ...
(Date:6/23/2016)... 23, 2016 /PRNewswire/ - FACIT has announced the ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" or ... of a portfolio of first-in-class WDR5 inhibitors for ... as WDR5 represent an exciting class of therapies, ... medicine for cancer patients. Substantial advances have been ...
Breaking Biology Technology:
(Date:4/15/2016)... , April 15, 2016 ... the,  "Global Gait Biometrics Market 2016-2020,"  report to ... http://photos.prnewswire.com/prnh/20160330/349511LOGO ) , ,The global gait biometrics ... of 13.98% during the period 2016-2020. ... angles, which can be used to compute factors ...
(Date:3/31/2016)...  Genomics firm Nabsys has completed a financial  restructuring ... , M.D., who returned to the company in October ... team, including Chief Technology Officer, John Oliver , ... and Vice President of Software and Informatics, Michael ... Dr. Bready served as CEO of Nabsys from 2005-2014 ...
(Date:3/22/2016)... , PROVO and ... Newborn Screening Ontario (NSO), which operates the highest sample ... molecular testing, and Tute Genomics and UNIConnect, leaders in ... respectively, today announced the launch of a project to ... (NGS) testing panel. NSO has been ...
Breaking Biology News(10 mins):