Navigation Links
Neuland Labs Reports First Quarter Fiscal Year 2013 Financial Results
Date:8/10/2012

HYDERABAD, India, Aug. 10, 2012 /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 first quarter of fiscal year (FY) 2013, ended June 30, 2012.

"We are pleased that in the first quarter of the new fiscal year we reported the highest quarterly revenues in Neuland's history, increasing revenues by almost one-quarter compared to the comparable period last year," said D.R. Rao, Chairman and Managing Director of Neuland Labs.  "We also made progress on our commitment to better manage our costs of production and overall expenses, enabling the company to more than double our after tax profits."

Revenues for the first quarter of FY 2013 were $23.3 million (1.28 billion INR*) compared to revenues in the first quarter of FY 2012 of $18.9 million (1.04 billion INR), an increase of 23%.  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 synthesis businesses.

Neuland reported EBITDA of $2.83 million (155.71 million INR) in the first quarter of FY 2013, compared to EBITDA of $2.23 million (122.47 million INR) in the comparable period in FY 2012, an increase of 27%.  After-tax profits in the first quarter of FY 2013 were $0.56 million (30.80 million INR), compared to after-tax profits of $0.16 million (8.59 million INR) in the first quarter of FY 2012, an increase of 261%.

"In seven of the last eight quarters, we have generated revenues of greater than one billion INRs (more than $18 million), and in the last two quarters our cumulative net profits were greater than $1.6 million.  This consistent growth reflects the success of our new product launches, the increased profitability of our mature products and a significant upsurge in revenues from our contract manufacturing business," noted Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs.  "In addition, during the quarter we were honored when D.R. Rao, our founder and Chairman, was featured in a best-selling new book on India's new age entrepreneurs."

Neuland also reported that it is in the process of re-organizing its businesses in order to infuse more capital in a manner that will increase the focus on new product development, reduce costs and further de-leverage the balance sheet, thereby setting the stage for creating additional value for shareholders going forward.  The company intends to provide additional information on these developments in the coming months.

For a complete set of Neuland's FY 2013 and FY 2012 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

BLL Partners/Brandwidth SolutionsVice President- Finance

Barbara 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 Reports Financial Results For Fiscal Year 2012
2. Patient Safety Technologies Reports Second Quarter 2012 Results
3. Soligenix Reports Second Quarter 2012 Financial Results and Highlights Recent Accomplishments
4. Simcere Pharmaceutical Group Reports Preliminary Unaudited Second Quarter 2012 Results
5. Inovio Pharmaceuticals Reports 2012 Second Quarter Financial Results
6. AcelRx Pharmaceuticals Reports Second Quarter 2012 Financial Results
7. Nektar Therapeutics Reports Financial Results for the Second Quarter of 2012
8. CareFusion Reports Fourth Quarter and Fiscal 2012 Results
9. American Pacific Reports Fiscal 2012 Third Quarter Results; Full Year Guidance Improves
10. Winner Medical Reports Third Quarter Fiscal 2012 Results
11. ViroPharma Incorporated Reports Second Quarter 2012 Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/22/2017)... 22, 2017 AVACEN Medical (AVACEN) announced that ... successfully helping those with the widespread pain associated with ... Amanda in Essex, England commented, ... hair, experiencing no sleep at all, tremendous pain, with ... cannot recommend [the AVACEN 100] enough, how this has ...
(Date:9/18/2017)... ALLENTOWN , Pa. and KALAMAZOO, Mich. ... Allentown, Penn. , and OptiMed Specialty Pharmacy ... a business partnership to offer a strategic hub service ... PMD Healthcare,s highly sought-after personal spirometer, Spiro PD 2.0, ... A spirometer is a medical device used ...
(Date:9/12/2017)... NEW YORK , Sept. 12, 2017   EcoVadis , ... supply chains, has published the first annual edition of its Global CSR ... than 20,400 companies evaluated by EcoVadis, based on Scorecard Ratings that analyzed ... ... & Performance Index ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ... (SOP) alumni Hannah Randall, PharmD ‘17, and Jennifer Huggins, PharmD ’17, along ... updates for the primary prevention of cardiovascular diseases during the 15th Annual ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance that covers care ... have a waiver for care if the client has a cognitive impairment diagnosis. ... for care, is often waived, so the benefits from their insurance start immediately,” said ...
(Date:10/13/2017)... ... October 13, 2017 , ... Global Healthcare Management’s 4th ... Park in Milford, NJ. This free event, sponsored by Global Healthcare Management’s CEO, ... The fun run is geared towards children of all ages; it is a non-competitive, ...
(Date:10/13/2017)... VA (PRWEB) , ... October 13, 2017 , ... ... of DevOps and Agile Software Development, has been awarded a contract by the ... Blanket Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies ...
(Date:10/12/2017)... WILMINGTON, Del. (PRWEB) , ... October 12, 2017 ... ... technology and advisory services for healthcare compliance program management, will showcase a range ... and National Association for Assisted Living (NCAL) Convention and Expo to be held ...
Breaking Medicine News(10 mins):