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KV Pharmaceutical Company Reports Fiscal 2009 First Quarter Results
Date:8/11/2008

First Quarter Revenues Increased 30%; Diluted EPS Up 92%

ETHEX Corporation Subsidiary Revenues Up 53%

FDA PDUFA date of October 24, 2008 for Gestiva(TM)

ST. LOUIS, Aug. 11 /PRNewswire-FirstCall/ -- KV Pharmaceutical Company (NYSE: KVa/KVb) today reported results for the first quarter of fiscal 2009 ended June 30, 2008.

Fiscal 2009 First Quarter Financial Highlights (Unaudited)

USD in millions Three months ended Three months ended Change

June 30, 2008 June 30, 2007

Net Revenues $148.9 $114.4 +30.2%

Net Income $12.5 $6.2 +102.2%

Earnings per diluted

Class A share $0.23 $0.12 +91.7%

Marc S. Hermelin, Chairman of the Board and Chief Executive Officer, stated, "During the first quarter, KV delivered sharply improved profits and nearly $16.0 million in cash flow from operating activities. Performance was led by strong growth at ETHEX Corporation and continued competitiveness of our category-leading branded products at Ther-Rx. Both of these businesses are poised for further growth over the balance of fiscal 2009 helped by recent introductions like metoprolol succinate extended-release tablets and our branded transdermal spray Evamist(TM). The Company's pipeline remains strong as well, with expectations of receiving one NDA approval and at least six ANDA approvals during the current fiscal year."

First Quarter Review

Revenues Increased 30% and Gross Profits Rose 39%

Net revenues for the first quarter increased 30.2%, or $34.5 million, to $148.9 million, compared with $114.4 million in the first quarter of fiscal 2008. Gross profits increased 38.6%, or $28.9 million, to $103.6 million compared to $74.8 million in the first quarter of fiscal 2008. Revenue growth during the quarter w
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SOURCE KV Pharmaceutical Company
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