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Unilife Corporation Announces Financial Results For Fiscal Year 2013 Fourth Quarter
Date:9/10/2013

gth, I believe they will underpin Unilife's long-term success and sustainable growth.

"We remain committed at this time to minimizing future dilution to existing shareholders by utilizing other sources of capital to support our operations while these upcoming contracts are finalized and begin to generate revenue. Given the signing of the Sanofi supply contract, re-negotiations of the terms we received previously for a large non-equity based debt financing are underway and are expected to be completed shortly," Mr. Shortall concluded.

Financial Results for Three Months Ended June 30, 2013Revenues for the three months ended June 30, 2013, were $0.7 million compared to $1.2 million for the same period in 2012. The Company's net loss for the three months ended June 30, 2013, was $22.0 million, or $0.25 per share, compared to a net loss of $14.9 million, or $0.21 per share, for the same period in 2012. This increase is primarily attributable to an increase in depreciation expense of $4.2 million primarily relating to a loss on disposal of equipment to manufacture the Unitract product line, and an increase in non-cash share-based compensation costs of $4.0 million, partially offset by lower expenses in other areas of R&D and G&A.  

Adjusted net loss for the three months ended June 30, 2013, was $9.9 million, or $0.11 per share, compared to $11.0 million, or $0.15 per share, for the same period in 2012. Adjusted net loss excludes non-cash share-based compensation expense, depreciation and amortization, loss on disposal of equipment and interest expense.

Unilife had $8.1 million of total cash and cash equivalents, including $2.4 million in restricted cash as of June 30, 2013. 

Conference Call InformationManagement has scheduled a conference call for 4:30 p.m. U.S. EDT on Tuesday, September 10, 2013, (Wednesday, September 11, 2013 at 6:30 a.m. AEST), to review the Company's financial results, customer partnership
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