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:3/24/2017)... Research and Markets has announced the addition of the "Dental Implants ... ... for Dental Implants in US$ Million. The report provides separate comprehensive analytics ... , Europe , Asia-Pacific , ... Annual estimates and forecasts are provided for the period 2015 through 2022. ...
(Date:3/24/2017)... , March 24, 2017 FinancialBuzz.com News ... ... publisher of cannabis market research, the legal cannabis market is ... through 2021, despite conflicting signals from the current presidential administration. ... that the two biggest drivers of growth in this industry ...
(Date:3/24/2017)... Research and Markets has announced the addition of the "Deep ... to their offering. ... The Deep Learning: Drug Discovery and Diagnostics Market, 2017-2035 report examines ... deep learning solutions within the healthcare domain. Primarily driven by the ... solution to generate relevant insights from medical data. ...
Breaking Medicine Technology:
(Date:3/24/2017)... ... 24, 2017 , ... “End Time GPS”: a dauntless and enlightened study ... Time GPS” is the creation of published author, Wesley Gerboth, a World War II ... and space-vehicle projects. Now, at age ninety-one, he shares the Wisdom God bestowed upon ...
(Date:3/24/2017)... ... , ... “The Communion of Saints: A Pastor’s Potpourri of ... across the United States. “The Communion of Saints” is the creation of ... congregations in seven states throughout his long career of devotion to the church. ...
(Date:3/23/2017)... ... March 23, 2017 , ... In 2016 the World ... that there could be four million Zika-related cases in the Americas within the next ... of US cases reported per year skyrocketing to an estimated 329,000. Yet, Zika, Lyme ...
(Date:3/23/2017)... , ... March 23, 2017 , ... The physicians of ... in the greater Houston Area. The new location is located at 2255 E. Mossy ... in Springwoods Village. This newest location will provide patients living in the north Houston ...
(Date:3/23/2017)... New Braunfels, TX (PRWEB) , ... March 23, 2017 , ... ... a new clinic, located at 960 Gruene Road in Building 2. The clinic is ... co-owner Dr. Andrew Bennett, PT, says opening the company’s second New Braunfels location brings ...
Breaking Medicine News(10 mins):