MINRAD International, Inc. Announces 2007 Financi...(91 376 ...),Health
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376 414%
Total Revenue $ 12,952 $ 16,341 $(3,389) (21)%
Revenue was $12,952 for 2007, a decrease of $3,389 or 21% compared to $16,341 in 2006. This decrease is primarily attributable to a decline in domestic sales due to disruptions in our manufacturing operations which limited production output and sales in 2007 which resulted from the addition and start-up of a new independent sevoflurane manufacturing line in December, 2007. International sales were relatively flat between the two periods.
Our anesthesia and analgesia product line generated 96% and 99% of revenue for 2007 and 2006, respectively. Sevoflurane sales in 2007 were $8,378, a decrease of $2,160 compared to 2006. Isoflurane sales in 2007 were $3,211, a decrease of $1,068 when compared to 2006.
Sales to Original Equipment Manufacturers, or OEMs, which are included
in United States sales, increased by $188, or 15%, from $1,257 for 2006
compared to $1,445 for 2007 due to the availability of sevoflurane as a
product choice in addition to isoflurane and enflurane. Sales to our
primary North American distributor decreased by $3,899 from $5,367 in 2006
to $1,468 for 2007.
(in thousands) Year Ended Variance
December 31, December 31, $ %
2007 2006
Revenue
United States $3,358 $7,061 $(3,703) (52)%
Europe 745 1,661 (916) (55)%
Western Hemisphere
(excluding U.S.) 6,851 6,125 726 12%
Pacific Rim 1,998 1,494 504 34%
Total Revenue $ 12,952 $ 16,341 $(3,389) (21)%
Gross Profit:
Gross profit or loss was $(566), a decrease of $6,153, or 110% compared
to $5,58
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