Navigation Links
Neuland Labs Reports Financial Results For Fiscal Year 2013
Date:5/10/2013

HYDERABAD, India, May 10, 2013 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE: NEULANDLAB; BOM: 524558) a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and contract manufacturing services to customers located in 85 countries, today announced financial results for the 2013 fiscal year (FY) ended March 31, 2013.

"Our initiatives to reduce costs and increase profitability gained momentum in FY 2013, and we are pleased to report record profits for the year," said Dr. D.R. Rao , Chairman and Managing Director of Neuland Labs .  "The reorganization of our business and accompanying capital infusion last year enabled us to reduce our financing costs and to realize greater efficiencies in our manufacturing operations.  We intend to continue our focus on achieving greater growth along with enhanced profitability in the new fiscal year."

Revenues for FY 2013 were $85.0 million (4.61 billion INR*) compared to FY 2012 revenues of $82.7 million (4.48 billion INR), an increase of 2.8%.  The increase in revenues primarily reflects gains in sales of the company's products and services from its API and Contract Research and Manufacturing businesses.

Neuland reported FY 2013 EBITDA of $11.3 million (614.5 million INR), compared to EBITDA of $8.9 million (483.5 million INR) in FY 2012, an increase of 27.1%.

After-tax profits in FY 2013 were $2.5 million (136.4 million INR), compared to after-tax profits in FY 2012 of $0.4 million (20.3 million INR).  

"During fiscal year 2013, we made further progress in building a strong foundation for future growth and profitability," commented Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs .  "We are making good on our goal of strengthening our product mix with higher margin products and services, and we expect this trend to continue.  Our manufacturing collaboration with API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group, was a notable advance this year, and we believe this alliance will enable us to raise our profile in Japan while better serving our customers around the globe."

For a complete set of Neuland's FY 2013 and FY 2012 financial data, visit http://neulandlabs.com/about/financials.htmlNeuland Laboratories is listed on India's National Stock Exchange under the symbol NEULANDLAB and on the Bombay Stock Exchange under code 524558 and the symbol Neuland.EO.* = Indian rupees

About Neuland Labs
For over 25 years Neuland Labs has been at the forefront of manufacturing APIs through its cGMP manufacturing facilities, working with customers in 85 countries. Neuland Labs has developed more than 300 processes and 60 APIs, and it has filed more than 45 US drug master files (DMFs), 14 EU CEPs and a total of more than 400 DMFs worldwide. Its manufacturing facilities are inspected and approved by the US FDA and other leading regulatory agencies. Its record of quality manufacturing and reliability is highlighted by cGMP certifications that include the FDA, TGA, EDQM, German Health Authority, ISO 14001, ISO 27001 and OHSAS 18001. For more information, visit www.NeulandLabs.com.Contacts:Neuland Laboratories Ltd. US MediaNS Viswanathan BLL Partners/Brandwidth SolutionsChief Financial OfficerBarbara Lindheim+91 40 30211600+1 212 584-2276 nsviswanathan@neulandlabs.comblindheim@bllbiopartners.com


'/>"/>
SOURCE Neuland Laboratories Ltd.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Neuland Labs Strengthens Commitment to Japanese Market With New Manufacturing Collaboration With Mitsubishi Healthcare Unit API Corporation
2. Neuland Labs Reports Second Quarter Fiscal Year 2013 Financial Results
3. Neuland Labs Reports First Quarter Fiscal Year 2013 Financial Results
4. Neuland Labs Reports Financial Results For Fiscal Year 2012
5. Omeros Corporation Reports First Quarter 2013 Financial Results
6. Lexicon Pharmaceuticals Provides Clinical Pipeline Update and Reports 2013 First Quarter Financial Results
7. CareFusion Reports Third Quarter Fiscal 2013 Results
8. Misonix Reports Nine Months Fiscal 2013 Financial Results
9. Optimer Reports First Quarter 2013 Financial Results
10. American Pacific Reports Fiscal 2013 Second Quarter Results; Increases Full Year Guidance
11. Alimera Sciences Reports First Quarter 2013 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/19/2017)... Conference Call and Webcast to Follow Vanda ... will release results for the fourth quarter of 2016 on Wednesday, ... ... at 4:30 PM ET on Wednesday, February 15, 2017, during which ... results and other corporate activities. To participate in the conference call, ...
(Date:1/19/2017)... -- Stealth BioTherapeutics Inc. ( Stealth ), a clinical-stage biopharmaceutical ... new additions to its senior leadership team: W. ... Daniel Geffken as interim Chief Financial Officer. ... Pharm.D. has been promoted to Chief Clinical Development Officer. ... and Daniel to our management team, as both will ...
(Date:1/19/2017)...  Abaxis, Inc. (NasdaqGS: ABAX ), a ... consumables for the medical and veterinary markets worldwide, has ... for the third quarter fiscal year 2017, ended December ... ET on Thursday, January 26, 2017.  The Company will ... 2017 after the market closes on Thursday, January 26, ...
Breaking Medicine Technology:
(Date:1/20/2017)... ... January 20, 2017 , ... Doctor C LLC, a company ... January ECRM trade show to continue the marketing and distribution of its product, The ... for providing 400 percent better absorption than traditional vitamin C supplements. At the trade ...
(Date:1/20/2017)... ... 20, 2017 , ... Lice Troopers, the lice removal company based in South ... since the holiday season. , “It happens every year around this time,” says ... taking photos, which is the head-to-head gateway that lice need to spread.” , As ...
(Date:1/20/2017)... ... January 20, 2017 , ... International Protein, a company based out ... announced it attended the January ECRM trade show in Hilton Head, SC. , ... was determined to create a line of products that would elevate her fitness regime. ...
(Date:1/20/2017)... Viejo, California (PRWEB) , ... January 20, 2017 , ... ... easy to use inside of Final Cut Pro X," said Christina Austin - CEO ... on the RED Dragon. Utilizing the Dragon Sensor,TransFlare 4K Mystique lens flare and light ...
(Date:1/20/2017)... ... January 20, 2017 , ... “Mary Magdalene: Grace is Greater than Sin”: ... woman who witnessed Jesus Christ firsthand. “Mary Magdalene: Grace is Greater than Sin” is ... as an educator interacting with countless women who had little knowledge of the female ...
Breaking Medicine News(10 mins):