ALISO VIEJO, Calif.--(BUSINESS WIRE)--AVANIR Pharmaceuticals (NASDAQ:AVNR) today reported financial results for the quarter ended March 31, 2007. For the second fiscal quarter of 2007, AVANIR reported a net loss of $7.9 million, or $0.20 per share (including a $2.6 million credit for adjustment of stock based compensation expense or $0.07 per share), compared with a net loss of $13.5 million, or $0.44 per share, for the comparable quarter in 2006. Revenues for the second quarter of fiscal 2007 were $5.9 million, compared with $2.5 million for the second quarter of fiscal 2006. Gross margins for the second quarter of fiscal 2007 were $3.6 million, compared to $576,000 in the same period a year ago. Revenues in the second quarter of fiscal 2007 included FazaClo® net revenues of $3.8 million. Total operating expenses were $11.6 million in the second quarter of fiscal 2007 (including a $2.6 million credit for adjustment of stock based compensation expense), compared with $14.7 million in the same period in fiscal 2006.
