See Schedule of Supplemental Information, including footnote 1)
compared to diluted EPS of 9 cents (or 7 cents adjusted diluted EPS)
in the fourth quarter of 2006; for the full year 2007, diluted EPS
was 4 cents (or 5 cents adjusted diluted EPS) compared to diluted
EPS of 28 cents (or 21 cents adjusted diluted EPS) for the same
period in 2006.
As previously indicated, substantially all revenues related to the
amortization of previously received Anipryl(R) milestones terminated
on December 31, 2006. The amortization of these deferred revenues
has previously resulted in non-cash revenues of $0.8 million per
quarter or $3.3 million per year. The termination of the
amortization of deferred revenues had no effect on cash flows but
had the impact of contributing 7 cents to reported earnings per
share in 2006.
- Cash flows from operating activities in the fourth quarter of 2007
were $2.4 million and $12.6 million for the year 2007, compared to
operating cash flows of $5.7 million and $16.5 million respectively
for the same periods in 2006. The decrease was related to lower cash
earnings in the contract manufacturing segment.
- Cash and cash equivalents at December 31, 2007 were $24.8 million
compared to $21.4 million at December 31, 2006. The increase is
attributable to the increasing cash earnings of the Company and
proceeds from the exercise of stock options and customer financing,
offset by capital expenditures for projects such as a new warehouse
management system, information technology and SAP platform upgrades
and new installations related to a substantial non-sterile contract
with Johnson & Johnson Consumer Companies, In
|SOURCE DRAXIS Health Inc.|
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