GeoPharma Inc posts second consecutive quarter of record revenues

Jun 27, 2008 (M2 EQUITYBITES via COMTEX) -- GORX | Quote | Chart | News | PowerRating -- GeoPharma Inc (NASDAQ:GORX), a bio/pharma company, reported on 26 June a second consecutive record of revenues of USD23.890m for the fiscal fourth quarter ended 31 March 2008. The highest quarterly revenue ever represents a jump of 31% sequentially, as compared to the third quarter ended 31 December 2007 and 68.5% as compared to the corresponding quarter of the previous year, respectively.

Research and development expenses for the three months ended 31 March2008 was approximately USD608,000, as compared to USD567,000 for March 2007 quarter.

The company declared a net loss for the March quarter 2008 of USD2.8m, as compared to net income of USD534,000 in the March quarter 2007.

Total revenues generated for the fiscal year ended 31 March 2008 was USD57.9m, down 3.2% as compared to USD59.8m for the fiscal year ended 31 March 2007.

Research and development expenses for the fiscal year were approximately USD1.6m, as compared to approximately USD1.5m of R&D expense for the fiscal year ended 31 March2007.

Net loss recorded for fiscal 2008 was USD7.4m, when compared to net income of USD2.2m for fiscal 2007.

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