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:10/12/2017)... ... October 12, 2017 , ... DuPont Pioneer ... that they have entered into a multiyear collaboration to identify and characterize novel ... additional tools for gene editing across all applications. , Under the terms of ...
(Date:10/12/2017)... Irvine, ca (PRWEB) , ... October 12, 2017 ... ... for the Surgical Wound Market with the addition of its newest module, US ... the $1.2B market for thrombin hemostats, absorbable hemostats, fibrin sealants, synthetic sealants and ...
(Date:10/12/2017)... Diego, CA (PRWEB) , ... ... ... (https://www.onramp.bio/ ) has launched Rosalindâ„¢, the first-ever genomics analysis platform specifically ... all bioinformatics complexity. Named in honor of pioneering researcher Rosalind Franklin, who ...
(Date:10/11/2017)... ... October 11, 2017 , ... The CRISPR-Cas9 ... overexpression experiments and avoiding the use of exogenous expression plasmids. The simplicity of ... performing systematic gain-of-function studies. , This complement to loss-of-function studies, such as ...
Breaking Biology Technology:
(Date:6/14/2017)... , June 15, 2017  IBM (NYSE: IBM ) ... international tech event dedicated to developing collaboration between startups and ... on June 15-17. During the event, nine startups will showcase ... value in various industries. France ... the international market, with a 30 percent increase in the ...
(Date:5/6/2017)... , May 5, 2017 ... just announced a new breakthrough in biometric authentication ... exploits quantum mechanical properties to perform biometric authentication. These ... smart semiconductor material created by Ram Group and ... finance, entertainment, transportation, supply chains and security. Ram ...
(Date:4/17/2017)... Florida , April 17, 2017 NXT-ID, ... technology company, announces the filing of its 2016 Annual Report on ... and Exchange Commission. ... on Form 10-K is available in the Investor Relations section of ... as on the SEC,s website at http://www.sec.gov . ...
Breaking Biology News(10 mins):