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  • Unilife Corp (NASDAQ: UNIS) - Preliminary Financial Results for Fourth Quarter and FDA Approval 0 comments
    Sep 1, 2010 5:26 PM | about stocks: UNIS

    Unilife (NASDAQ:UNIS) had put out a number of press releases this week. The first dealt with the fourth quarter numbers:

    "Revenues for the fourth quarter ended June 30, 2010 were $2.7 million compared to $7.7 million for the same period in 2009.  Revenues for the fiscal year ended June 30, 2010 were $11.4 million compared to $20.0 million for the same period in 2009.  The decrease was primarily attributable to a relative decline in revenues from the Company's industrialization agreement with sanofi-aventis in 2010, due to the accelerated receipt of milestone payments during 2009 because the industrialization program was running ahead of its original schedule.  The Company has elected to prioritize its activities on the development and supply of its proprietary range of safety syringes. It has consequently reduced its business activities within the medical device contract manufacturing sector during this period.

    The Company's net loss for the fourth quarter ended June 30, 2010 was $9.7 million or $0.18 per diluted share, compared to net income of $2.2 million, or $0.06 per diluted share for the same period in 2009.  The Company's net loss for the fiscal year ended June 30, 2010 was $29.7 million or $0.64 per diluted share, compared to a net loss of $0.5 million, or $0.02 per diluted share for the same period in 2009.  The increase in the net loss was attributable to both the decline in revenues as well as higher payroll and related expenses due to an increase in the workforce at the Lewisberry, PA facility.

    As of June 30, 2010, the Company's cash and cash equivalents were $20.8 million."

    UNIS also received FDA approval on its Unitract(NYSE:TM) Tuberculin (TB) Syringe on top of its EC certification to apply the CE Mark to its Unitract(TM) 1mL syringes manufactured at its Lewisberry facility, allowing the sale and distribution of these products within the European Union and Australia.




    Disclosure: no position
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