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Hi-Tech Pharmacal (HITK -12%) gets slammed after missing on its FQ1 earlier this morning. Net...

Hi-Tech Pharmacal (HITK -12%) gets slammed after missing on its FQ1 earlier this morning. Net earnings fell 56% as lower average prices for its generic nasal spray contributed to its first revenue decline in two years. The specialty pharmaceutical company's bottom line also was hurt by increased expenses for sales and advertising, as well as R&D at its generic business.

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