ating cash flow has enabled the Company to expand
FC2 production capacity to provide protection for even more women. The expansion will be funded from the Company's cash on hand, which increased 48% to $6.3 million during the first six months of Fiscal 2012. Our solid financial results and positive outlook have also permitted the Company to increase its cash dividend to its shareholders, whose support has made the female condom available."
Cost of sales increased 32% to $3.3 million in the second quarter of FY2012, compared with $2.5 million in the second quarter of FY2011. Gross profit increased 152% to $4.6 million, or 58% of net revenues, in the most recent quarter, compared with $1.8 million, or 42% of net revenues, in the second quarter of FY2011.
Operating expenses for the quarter ended March 31, 2012 increased 41% to $2.4 million when compared with operating expenses of $1.7 million in the second quarter of FY2011. The increase was primarily due to accrual for fiscal year-end incentive payments related to the expected achievement of unit sales and operating income targets, as well as increased travel, legal and consulting fees. Because the likelihood of the Company's FY2011 targets being met was uncertain at March 31, 2011, the second quarter FY 2011 bonus accrual was minimal.
Operating income increased 2,036% to $2.2 million in the three months ended March 31, 2012, compared with $0.1 million in the prior-year quarter. The increase reflects significantly increased gross profit resulting from higher unit sales, somewhat offset by higher operating expenses.
The Company reported net income of $1.9 million, or $0.07 per diluted share, in the second quarter of FY2012, a 2,251% increase over net income of $0.1 million, or $0.00 per diluted share, in the second quarter of FY2011. The Company recorded a currency loss of $0.03 million in each of the quarters ended March 31, 2012 and 2011.
For the six months ended
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SOURCE The Female Health Company Copyright©2010 PR Newswire. All rights reserved | |
Page: 1 2 3 4 5 6 7 8 Related medicine technology :1.
Nouveau Life Pharmaceuticals (HRID) Contracts with U.S. Manufacturer to Produce New Female Supplement2.
Palatin Technologies Completes Enrollment in Phase 2B Bremelanotide Female Sexual Dysfunction Trial3.
The Female Health Companys Distributor, Sekunjalo Investments Corporation (PTY) Ltd., Receives Order for 5 Million FC2 Female Condoms From the Republic of South Africa Department of Health4.
The Female Health Company to Host Third Quarter Conference Call on Friday, August 5, 20115.
Palatin Technologies, Inc. Initiates Enrollment in Phase 2b Trial With Bremelanotide in Women With Female Sexual Dysfunction6.
The Female Health Companys Brazilian Distributor, Semina, Awarded Contract For Up To 20 Million FC2 Female Condoms7.
The Female Health Company Declares 2nd Quarter Dividend of $0.05/share8.
The Me-Covery: Saatchi & Saatchi Wellness and Time Inc.s Health Brand Reveal Historic Shift in Female Consumer Behavior9.
Co-Promotion of a New Medical Device for Female Infertility Announced10.
The Female Health Company Receives Order for 3.5 Million FC2 Female Condoms for Distribution at 2010 World Cup11.
Second-Generation Female Condom is Now Available in the United States; FC2 Female Condom Will Cost 30 Percent Less than Predecessor