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Unilife Corporation Announces Financial Results For Fiscal Year 2014 First Quarter
Date:11/11/2013

of Unilife, commented: "As I have said all along, fiscal year 2014 is the inflection point for Unilife when we begin to show rapidly increasing revenue. As such, we reported revenue of $3.2 million in the first quarter of Fiscal Year 2014, which is an increase of 360% over the same quarter in the prior year. Although the comparison is against a small base, it is significant in that it shows the inflection point in our revenue. From here, I expect the slope to be significant.

"As we continue to increase our investment in R&D and operations, which is increasingly offset by our revenue, we are also narrowing our operating loss. As such, we have reported a 10% decrease in operating loss for the first quarter compared with the prior year period. The loss per share has narrowed by 25% to $0.12, compared with the prior year period. I anticipate sequential quarterly growth in Fiscal Year 2014, as well as significant annual growth this fiscal year and beyond.

"We are focused on rapid and significant growth in the long-term. To accomplish this, we will continue to increase our investment in R&D and operations, much of which will be offset by our increasing revenue. I am pleased with the results we are getting from our investment in these areas. A look at the breadth and quality of our product portfolio on our website shows how far we have come over the last two or three years. Although we can be cash flow positive this year, if we wanted to do so, it is not in the best long term interest of our shareholders. This is because limiting our investment in R&D today can dampen the growth we anticipate in 2017 and beyond," Mr. Shortall concluded.

Financial Results for Three Months Ended September 30, 2013Revenue for the three months ended September 30, 2013, was $3.2 million compared to $0.7 million for the same period in 2012.

The Company's net loss for the three months ended September 30, 2013, was $11.2 million, or $0.12 per share, compar
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