Navigation Links
Neuland Labs Reports Financial Results for Fiscal Year 2011
Date:5/20/2011

HYDERABAD, India, May 20, 2011 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE:NEULANDLAB; BOM:524558) a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates, and contract research and manufacturing services to customers located in 85 countries, today announced financial results for the 2011 fiscal year (FY) ended March 31, 2011.

"I am pleased to report that in fiscal year 2011, Neuland delivered on our commitment to return the company to profitability and robust growth," said Dr. D.R. Rao, Chairman and Managing Director of Neuland Labs.  "We achieved increases in revenues across all of our lines of business, with especially strong gains in Active Pharmaceutical Ingredients sales.  We significantly increased our operating cash flow by almost doubling EBITDA from last year, and also posted a modest profit.  We are optimistic that the strategic and operational initiatives that helped produce these encouraging results will enable us to achieve continued sales and profit growth in the current year."

Revenues for FY 2011 were $88.8 million (3.99 billion INR*) compared to FY 2010 revenues of $62.9 million (2.83 billion INR), an increase of 41%.  The increase in revenues primarily reflects gains in sales of the company's products and services from its API, Contract Research and Manufacturing, and Peptides businesses.

Neuland reported FY 2011 EBITDA of $11.1 million (500 million INR), compared to EBITDA of $6.2 million (281 million INR) in FY 2010, an increase of 78%.  The increase in EBITDA reflected higher sales revenues and improved capacity utilization, as well as the company's success in reducing its debt obligations during the 2011 fiscal year.

After-tax profits in FY 2011 were $1.1 million (51 million INR), compared to a net loss of $1.5 million (70 million INR) in FY 2010.

"The across-the-board gains we achieved in FY 2011 show that we are beginning to reap the benefits of the investments we made over the past few years," commented Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs. "We also made good progress in reducing the debt we had incurred to help finance those investments, and we look forward to further gains as well in our ongoing enterprise-wide efforts to strengthen our margins."

For a complete set of Neuland's FY 2011 and FY 2010 financial data, visit http://neulandlabs.com/about/financials.html.

Neuland 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 LabsFor over 25 years Neuland Labs has been at the forefront of supporting drug development through its consulting services and its cGMP contract and API manufacturing.  The company is committed to research, supporting a state-of-the-art R&D operation.  Neuland Labs scientists have developed more than 300 processes from bench scale to commercial production and filed more than 400 drug master files worldwide.  Its manufacturing facilities are inspected and approved by the 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

BioCom Partners/Brandwidth SolutionsVice President - Finance

Barbara Lindheim+91 40 302 11 600

+1 212 918-4650nsviswanathan@neulandlabs.com

blindheim@biocompartners.com
'/>"/>

SOURCE Neuland Laboratories Ltd.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
2. Spherix Reports Second Quarter Earnings
3. Tapestry Reports Second Quarter 2007 Results
4. Callisto Reports on Second-Quarter 2007 Milestones
5. ImmuneRegen BioSciences Reports Material Transfer Agreement with VaxGen, Inc.
6. Vical Reports Second Quarter 2007 Financial Results, Allowance of Pandemic Influenza IND and Other Advances in Product Development Programs
7. Paper in International Journal of Oncology Reports Alfacells ONCONASE(R) Suppresses Intracellular Oxidative Stress
8. TAXUS WOMAN Study Reports Positive Clinical Outcomes for the TAXUS(R) Drug-eluting Stent in Women
9. Biopure Reports on Meeting with the FDA
10. Peregrine Reports Data Showing Bavituximabs Potential to Shrink Prostate Tumors
11. NicOx Reports TOPIGEN to Advance TPI-1020 Into Phase 2 for COPD Following Promising Clinical Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/16/2017)... 16, 2017 CBDRx, the world,s premiere nutraceutical ... phyto-nutrient rich hemp extract to Veteran,s groups across the ... proprietary hemp extract to Veteran,s groups across the United ... company in the world and through their passion, CBDRx ... spectrum phyto-nutrient rich hemp extract available. ...
(Date:1/14/2017)... , Jan. 14, 2017  Johnson & Weaver, LLP ... of purchasers of Zimmer Biomet Holdings, Inc. (NYSE: ... through October 31, 2016 (the "Class Period"). Zimmer ... and markets orthopaedic reconstructive products, such as knee and hip ... ...
(Date:1/13/2017)... Constant research ongoing in the field ... to the demand for western blotting technique. The global  western ... 551.0 Mn by 2016 end. Developing economies in ... for western blotting, whereas North America ... ...
Breaking Medicine Technology:
(Date:1/16/2017)... ... January 16, 2017 , ... In 1985, the ... high-level training standards to an international multidisciplinary group of healthcare treatment providers and ... way to further its mission at the grassroots level, iaedp launched MemberSHARE, an ...
(Date:1/16/2017)... ... 16, 2017 , ... NexTec Group has been selected as a member of ... their accomplishments in the field of midmarket financial software. , Members of the VAR ... Selection is not based on revenue and those firms chosen represent a wide range ...
(Date:1/15/2017)... ... January 15, 2017 , ... Accreditation Commission for Health ... its specialty care services. Albertsons Companies is the largest national food and ... pharmacy patients. , Accreditation by ACHC reflects Albertsons Companies’ dedication and commitment to ...
(Date:1/15/2017)... ... January 15, 2017 , ... The Gravity Vault Indoor ... Radnor, Pennsylvania. As construction wraps up on the 14,000+ square foot climbing gym, the ... sixth location, including three in New Jersey and two in New York. With this ...
(Date:1/14/2017)... ... January 14, 2017 , ... AgileMinder develops innovative products and services ... Scale is now available on Apple as a fun, free emoji sticker pack for ... one of the ten color coded values on The Emoji Scale. , On ...
Breaking Medicine News(10 mins):