Interpharm Holdings, Inc. (IPA) Announces Financial Results For The Three Month Period Ended December 31, 2006
2/15/2007 12:52:43 PM
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Interpharm Holdings, Inc. (Amex: IPA), a manufacturer and distributor of generic pharmaceutical products, reported net sales of $17.48 million and a net loss of ($4.12) million for the quarter ended December 31, 2006. For the quarter ended December 31, 2005, Interpharm’s net sales were $16.21 million and net income was $0.61 million. The December 31, 2006 quarter results reflect difficulties in obtaining raw materials for several finished products, as well as decreased selling prices to certain customers. In addition, the Company expended $4.87 million on research and development during the quarter, and incurred a one time expense of $1.66 million related to the termination of a manufacturing and supply agreement with Watson Laboratories, Inc.