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Nuvo Research announces 2009 fourth quarter and year-end financial results
Date:2/19/2010

margin on product sales was $3.3 million compared to $3.2 million for the year ending December 31, 2008. The increase in gross margin was primarily attributable to higher Pennsaid sales, offset partially by higher material costs, the strengthening U.S. dollar and costs related to the capacity expansion at the Company's manufacturing facility in Varennes, Quebec.

Total operating expenses, excluding foreign currency losses, for the three months ended December 31, 2009 were $5.6 million versus $5.0 million for the three months ended December 31, 2008. The increase in the quarter relates primarily to higher research and development expenses and selling, general and administrative expenses. Total operating expenses, excluding foreign currency losses, for the year ended December 31, 2009 increased slightly to $17.4 million compared to $17.1 million for the year ended December 31, 2008. The increase from 2008 relates to higher selling, general and administrative expenses, offset by lower research and development expenses, stock-based compensation and amortization expense.

Research and development expenses were $3.0 million for the three months ended '/>"/>

SOURCE Nuvo Research Inc.
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