MEXICO CITY, April 28 /PRNewswire-FirstCall/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB) ("Genomma Lab" or "the Company"), announced today its results for the quarter ended March 31, 2009. All figures included herein were prepared in accordance with Mexican GAAP; figures are stated in nominal Mexican pesos. Also, the following consolidated figures show the Company's Spanish operations reclassified as discontinued operations according to Mexican GAAP.
1Q09 Highlights (vs. 1Q08) -- Net Sales reached Ps. 649.1 million, an increase of 26.1%. -- Gross Profit was Ps. 477.3 million, an increase of 23.2%. -- EBITDA(1) increased 10.2% to Ps. 92.7 million. -- Consolidated Net Income rose 48.5% to Ps. 74.9 million. -- Earnings Per Share(2) increased 31.3% to Ps. 1.02 during the first quarter. -- International Net Sales rose 259.4%, to Ps. 115.4 million. -- During the first quarter, Genomma Lab successfully launched seven products under six existing brands (Base Brands(3) and Prior Year Launches(4)) as part of our line extension strategy. -- The Company also launched two products under two New Brands(5), as part of its new product launch plan during the first quarter. -- As of March 31, 2009 the Company had a net cash position of Ps. 1,078.6 million. -- During the first quarter of 2009, the Company also acquired Medicinas y Medicamentos Nacionales, S.A.P.I. de C.V. ("MMN"), a company with a broad product portfolio. (1) EBITDA is defined as earnings before interest, taxes, depreciation and amortization. (2) Earnings Per Share are for the last 12 months and were calculated using the weighted average of shares outstanding for the period. (3) Base Brands were launched at least two years prior to the last fiscal year (2007, 2006, 2005, etc.). (4) Prior Year Launches were brands launched during the prior fiscal year (2008). (5) New Brands were launched in the fiscal year just ended (2009)
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Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing over-the-counter pharmaceutical and personal care products companies in Mexico. Genomma Lab develops, sells and markets a broad range of premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. Through a combination of a successful new products development process, consumer-oriented marketing, a broad retail distribution network and a low-cost, highly flexible operating model.
The Company had net sales of Ps. 2,629.4 million and EBITDA of Ps. 691.1 million in 2008. Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker symbol "LAB.B" (Bloomberg: labb.mx).
Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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