Navigation Links
Neuland Labs Reports Third Quarter Fiscal Year 2012 Financial Results

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 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 and the website of the Lead Manager at

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 Contacts:

 Neuland Laboratories Ltd.

US MediaNS Viswanathan

BioCom Partners/Brandwidth SolutionsVice President- Finance

Barbara Lindheim+91 40 30211600

+1 212 584-2276

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:
(Date:11/25/2015)... ... November 25, 2015 , ... A long-standing ... Aerospace Professionals (OPBAP) has been formalized with the signing of a Memorandum of ... with OPBAP leaders Capt. Karl Minter and Capt. Albert Glenn Tuesday, November 24, ...
(Date:11/24/2015)... ... , ... The United States Golf Association (USGA) today announced Dr. Bruce Clarke, ... annually since 1961, the USGA Green Section Award recognizes an individual’s distinguished service to ... Clarke, of Iselin, N.J., is an extension specialist of turfgrass pathology in the department ...
(Date:11/24/2015)... ... November 24, 2015 , ... International Society for Pharmaceutical ... the premier annual events for pharmaceutical manufacturing: 2015 Annual Meeting. The conference took ... hosted the largest number of attendees in more than a decade. , ...
(Date:11/24/2015)... ... ... The Academy of Model Aeronautics (AMA), led by its Executive Council, has ... Prix, to represent the First–Person View (FPV) racing community. , FPV racing has exploded ... of racing and several new model aviation pilots have joined the community because of ...
Breaking Biology Technology:
(Date:11/9/2015)... DUBLIN , Nov. 09, 2015 /PRNewswire/ ... announced the addition of the "Global ... to their offering. --> ... "Global Law Enforcement Biometrics Market 2015-2019" ... Research and Markets ( ) ...
(Date:11/4/2015)... York , November 4, 2015 ... a new market report published by Transparency Market Research "Home ... Growth, Trends and Forecast 2015 - 2022", the global home ... US$ 30.3 bn by 2022. The market is estimated ... forecast period from 2015 to 2022. Rising security needs ...
(Date:10/29/2015)... --  MedNet Solutions , an innovative SaaS-based eClinical technology ... is pleased to announce that it has been selected ... of only three finalists for a 2015 Tekne ... category. The Tekne Awards honor Minnesota ... and leadership. iMedNet™ eClinical  technology ...
Breaking Biology News(10 mins):