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The Quigley Corporation Reports Third Quarter 2008 Results; Continues Investment in Pharmaceutical R&D Future
Date:10/30/2008

ion, or ($0.35) per share compared to $3.7 million, or ($0.29) per share for the same period in 2007.

Income from continuing operations for the third quarter of 2008, as compared to the same period in 2007, reflects a reduction of gross profit from reduced sales as well as costs associated with the continued investment in Quigley Pharma, a wholly owned Ethical Pharmaceutical subsidiary developing natural-source potential prescription and other products. The loss from continuing operations for the nine months ended September 30, 2008 reflects the aforementioned reduction in gross profit from reduced sales as well as costs associated with the continued investment in Quigley Pharma, compared to the like period of 2007.

Net income for the third quarter ended September 30, 2008 was $879,000, or $0.07 per share, compared to $1.3 million, or $0.10 per share for the third quarter of 2007. Net loss for the nine months ended September 30, 2008 was $3.6 million, or ($0.28) per share, compared to a net loss of $4.1 million, or ($0.32) per share for the nine months ended September 30, 2007. The improvement in net loss for the nine months ended September 30, 2008 reflects gains in the discontinued operations as compared to a loss for the same period in 2007.

No tax provision or benefits, to reduce losses, are provided for the quarter and nine month period ended September 30, 2008 and 2007, since the Company is in a net operating loss carry-forward position for which a valuation has been established.

In March 2008, The Quigley Corporation completed the sale of its wholly owned subsidiary, Darius International Inc. ("Darius"), which constituted the Health and Wellness segment, to InnerLight Holdings, Inc. Net loss of the Company for the nine months ended September 30, 2008 reflects results from discontinued operations associated with the sale of Darius that included a gain on disposal of $737,000 and income from discontinued operations of $139,000, total
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SOURCE The Quigley Corporation
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