CHICAGO, Dec. 1 /PRNewswire-FirstCall/ -- The Female Health Company (Amex: FHC), which manufactures and markets the FC Female Condom(R), today reported record operating results for the quarter and fiscal year ended September 30, 2008.
For the three months ended September 30, 2008, net revenues increased 52% to $7.8 million, compared with $5.2 million in the quarter ended September 30, 2007. The Company reported net income attributable to common stockholders of $2.3 million, or $0.08 per diluted share, in the fourth quarter of FY2008, versus $1.1 million, or $0.04 per diluted share, in the corresponding period of the previous fiscal year.
In the fourth quarter of FY2008, the Company recorded a favorable currency gain of $0.9 million and a tax benefit of $0.2 million. Pretax income exclusive of currency gain totaled $1.3 million, an increase of 211% when compared with pretax income exclusive of currency loss of $0.4 million in the final quarter of FY2007.
Gross profit increased 73% to $3.5 million, or 44.8% of net revenues, in the most recent quarter, compared with $2.0 million, or 39.3% of net revenues, in the fourth quarter of FY2007. Operating income increased 206% to $1.2 million in the three months ended September 30, 2008, compared with $0.4 million in the corresponding period of the previous fiscal year. This was the first quarter in which the Company reported operating income in excess of $1 million.
The Company expects significant quarter-to-quarter variations in its operating results, due to the timing of large order receipts, production scheduling, and shipping of products.
For the year ended September 30, 2008, net revenues increased 33% to $25.6
million, compared with $19.3 million in FY2007. Gross profit increased 50% to
$10.7 million, or 41.9% of net revenues, in FY2
|SOURCE The Female Health Company|
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