Navigation Links
Neuland Labs Reports First Quarter Fiscal Year 2015 Financial Results
Date:8/1/2014

HYDERABAD, India, Aug. 1, 2014 /PRNewswire/ -- Neuland Laboratories Ltd., (NSE:NEULANDLAB; BSE-Scrip Code:524558), a pharmaceutical manufacturer providing active pharmaceutical ingredients (APIs), complex intermediates and custom manufacturing services to customers located in 85 countries, today announced financial results for the first quarter of fiscal year (FY) 2015, ended June 30, 2014.

"Neuland's results in the first quarter were affected by work flow re-prioritization to accommodate certain customer needs, and we do not expect this to impact our overall performance for the new fiscal year," said Dr. D.R. Rao, Chairman and Managing Director of Neuland Labs. "We are now back to our regular schedule and expect to achieve the planned growth in revenues and profits for the year."

Revenues for the first quarter of FY 2015 were $17.10 million (1.03 billion INR*), compared to revenues in the first quarter of FY 2014 of $20.27 million (1.21 billion INR), a decrease of 15%.

Neuland reported EBITDA of $2.38 million (143.4 million INR) in the first quarter of FY 2015, compared to EBITDA of $3.45 million (206.0 million INR) in the comparable period in FY 2014, a decrease of 30%.

After-tax profits in the first quarter of FY 2015 were $0.49 million (30.25 million INR), compared to after-tax profits of $1.31 million (78.11 million INR) in the first quarter of FY 2014, a decrease of 61%.

Sucheth R. Davuluri, Chief Executive Officer of Neuland Labs, noted, "Our Company received SEBI approval for its proposed Rights Offering on July 10, 2014.,The Issue will provide us with additional capital to support the robust growth we are expecting during the remainder of the year."

For a complete set of Neuland's FY 2015 and FY 2014 financial data, visit http://www.neulandlabs.com/financials/financial-reports/.

* = Indian rupees. All percentages are based on Neuland's INR-denominated results.

About Neuland Labs
For 30 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 U.S. drug master files (DMFs) and a total of more than 400 DMFs in the European Union and other countries. Its manufacturing facilities are inspected and approved by the U.S. 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.

Disclaimer: Neuland Laboratories Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, an offer on a rights basis of its equity shares and has filed a draft letter of offer dated March 26, 2014 with the Securities and Exchange Board of India ("SEBI") and with the Stock Exchanges and is available on the website of SEBI at www.sebi.gov.in and the website of the Lead Manager at www.sbicaps.com.


Contacts:

       

Neuland Laboratories Ltd.

 

U.S. Media

 

India MediaViswanathan NS

 

BLL Partners/Brandwidth Solutions

 

ConceptPRChief Financial Officer

 

Barbara Lindheim

 

Geeta Fadnavis+91 40 30211600

 

+1 212 584-2276

 

+91 98 49256292NSViswanathan@neulandlabs.com

 

blindheim@bllbiopartners.com

 

geeta@conceptpr.com


'/>"/>
SOURCE Neuland Laboratories Ltd.
Copyright©2014 PR Newswire.
All rights reserved

Related medicine technology :

1. Neuland Labs Reports Financial Results For Fiscal Year 2012
2. Neuland Labs Reports First Quarter Fiscal Year 2013 Financial Results
3. Neuland Labs Reports Second Quarter Fiscal Year 2013 Financial Results
4. Neuland Labs Strengthens Commitment to Japanese Market With New Manufacturing Collaboration With Mitsubishi Healthcare Unit API Corporation
5. Neuland Labs Reports Financial Results For Fiscal Year 2013
6. Neuland Labs Reports First Quarter Fiscal Year 2014 Financial Results
7. Qmed, the Leading Global MedTech Industry Resource, Partners with Clarimed, to Provide the Medical Manufacturing and Healthcare Industry with FDA Reports on Adverse Events
8. Sigma-Aldrich (NASDAQ: SIAL) Reports Q1 2012 Diluted EPS of $0.96, With Diluted Adjusted EPS of $0.99. Sales Increase 5% for Q1 2012. Full Year 2012 Diluted Adjusted EPS Outlook of $3.90 to $4.05 Reaffirmed.
9. Kelyniam Global Inc. Reports Record Cranial Implant Revenues in the 1st Quarter of 2012
10. Varian Medical Systems Reports Results for Second Quarter of Fiscal Year 2012
11. Mylan Reports Q1 2012 Adjusted Diluted EPS of $0.52, an 18% Increase Over Prior Year Quarter
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/23/2016)... BEVERLY HILLS, Calif. , June 23, 2016 ... faced the many challenges of the current process. Many of ... option because of the technical difficulties and high laboratory costs ... would have to offer it at such a high cost ... to afford it. Dr. Parsa Zadeh , ...
(Date:6/23/2016)... 2016 Capricor Therapeutics, Inc. ... biotechnology company focused on the discovery, development and ... enrollment in its ongoing randomized HOPE-Duchenne clinical trial ... of its 24-patient target. Capricor expects the trial ... of 2016, and to report top line data ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... ... Austin residents seeking Mohs surgery services, can now turn to Dr. Jessica Scruggs ... for medical and surgical dermatology. , Dr. Dorsey brings specialization to include Mohs surgery, ... Micrographic Surgery completed by Dr. Dorsey was under the direction of Glenn Goldstein, MD, ...
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
(Date:6/24/2016)... ... , ... June 19, 2016 is World Sickle Cell Observance Day. In an ... of holistic treatments, Serenity Recovery Center of Marne, Michigan, has issued a ... Cell Disease (SCD) is a disorder of the red blood cells, which can cause ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San ... Society and the Road To Recovery® program to drive cancer patients to and from ... adults to ensure the highest quality of life and ongoing independence. Getting to ...
(Date:6/24/2016)... Vegas, Nevada (PRWEB) , ... June 24, 2016 ... ... Las Vegas client, The Grove Investment Group (TGIG), has initiated cultivation and processing ... Grove, in Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer of ...
Breaking Medicine News(10 mins):