Navigation Links
Neuland Labs Reports Third Quarter Fiscal Year 2013 Financial Results

HYDERABAD, India, Feb. 13, 2013 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE:NEULANDLAB; BOM:524558) a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and contract manufacturing services to customers located in 85 countries, today announced financial results for the third quarter of fiscal year (FY) 2013, ended December 31, 2012.

Revenues for the third quarter of FY 2013 were $19.56 million (1.074 billion INR*), compared to revenues in the third quarter of FY 2012 of $22.32 million (1.102 billion INR), a decrease of 2.5%.  Neuland reported EBITDA of $2.27 million (152.25 million INR) in the third quarter of FY 2013, compared to EBITDA of $1.74 million (94.50 million INR) in the comparable period in FY 2012, an increase of 30.4%. 

The company reported after-tax profits in the third quarter of FY 2013 of $0.56 million (32.73 million INR), compared to a loss of $0.62 million (negative 34.00 million INR) in the third quarter of FY 2012.

"In the third quarter of FY 2013, we reported our fifth consecutive quarter of profitability," said Dr. D.R. Rao , Chairman and Managing Director of Neuland Labs .  "During the quarter we also completed a reorganization of Neuland's corporate structure designed to help the company focus on its growth businesses and strengthen its balance sheet.  We expect the corporate reorganization and accompanying infusion of new capital will support our efforts to accelerate the growth of our high potential contract manufacturing business, which leverages our core competencies in quality manufacturing, regulatory excellence and superior customer service."

"The increases in profitability reported in the third quarter primarily reflect our continuing success in implementing process improvements to strengthen margins in our current API business, as well as changes in the product mix favoring higher margin products," noted Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs .  "In addition to supporting these positive trends, we also intend to continue to invest in marketing and business development activities focused on growing our contract manufacturing business, which we view as central to achieving robust profitable growth going forward."

For a complete set of Neuland's FY 2013 and FY 2012 financial data, visit

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

About Neuland Labs
For over 25 years Neuland Labs has been at the forefront of manufacturing APIs through its cGMP manufacturing facilities, working with customers in 85 countries.  Neuland Labs has developed more than 300 processes and 60 APIs, and it has filed more than 40 US drug master files (DMFs), 10 EU CEPs and a total of more than 400 DMFs worldwide. Its manufacturing facilities are inspected and approved by the US 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 Laboratories Ltd.

US MediaNS Viswanathan

BLL Partners/Brandwidth SolutionsVice President- Finance

Barbara Lindheim+91 40 30211600

+1 212 

SOURCE Neuland Laboratories Ltd.
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Neuland Labs Reports Third Quarter Fiscal Year 2012 Financial Results
2. Discovery Labs Reports Third Quarter Financial Results and Progress on Lead Programs
3. Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2011
4. Interleukin Genetics Reports Third Quarter 2011 Financial Results
5. Cell Therapeutics, Inc. Reports Results of Annual Meeting of Shareholders
6. Nile Therapeutics Reports 2011 Third Quarter Financial Results
7. Pharmasset Reports Fiscal Year End 2011 Financial Results
8. Palatin Technologies, Inc. Reports First Quarter Fiscal Year 2012 Results; Teleconference and Webcast to be held on November 15, 2011
9. SeraCare Reports Fiscal Year 2011 and Fourth Quarter Financial Results
10. WaferGen Reports Third Quarter 2011 Financial Results and Announces New Commercialization Strategy
11. Hadasit Bio-Holdings Ltd. Reports Significant External Financing for Portfolio Companies
Post Your Comments:
(Date:11/25/2015)... , Nov. 25, 2015 Orexigen® Therapeutics, ... will participate in a fireside chat discussion at the ... New York . The discussion is scheduled for ... .  A replay will be available ... Contact:McDavid Stilwell  , Julie NormartVP, Corporate Communications and ...
(Date:11/24/2015)... ... November 24, 2015 , ... The United States Golf Association (USGA) today announced ... Section Award. Presented annually since 1961, the USGA Green Section Award recognizes an individual’s ... , Clarke, of Iselin, N.J., is an extension specialist of turfgrass pathology ...
(Date:11/24/2015)... ... November 24, 2015 , ... Copper is an ... is bound to proteins, copper is also toxic to cells. With a $1.3 ... Institute (WPI) will conduct a systematic study of copper in the bacteria Pseudomonas ...
(Date:11/24/2015)... November 24, 2015 --> ... research report "Oligonucleotide Synthesis Market by Product & Services ... Synthesis, Diagnostic, DNA, RNAi), End-User (Research, Pharmaceutical & Biotech, ... MarketsandMarkets, the market is expected to reach USD 1,918.6 ... at a CAGR of 10.1% during the forecast period. ...
Breaking Biology Technology:
(Date:10/29/2015)... ANN ARBOR, Mich. , Oct. 29, 2015 ... with Eurofins Genomics for U.S. distribution of its ... DNA-seq kit and Rubicon,s new ThruPLEX Plasma-seq ... DNA to enable the preparation of NGS libraries ... in plasma for diagnostic and prognostic applications in ...
(Date:10/29/2015)... , Oct. 29, 2015 Today, ... a partnership with 2XU, a global leader in ... a smart hat with advanced bio-sensing technology. The ... athletes to monitor key biometrics to improve overall ... partnership, the two companies will bring together the most ...
(Date:10/27/2015)... Oct. 27, 2015 Synaptics Inc. (NASDAQ: SYNA ... that Google has adopted the Synaptics ® ClearPad ... to power its newest flagship smartphones, the Nexus 5X ... --> --> Synaptics ... provide strategic collaboration in the joint development of next ...
Breaking Biology News(10 mins):