FAIRFIELD, N.J., March 3 /PRNewswire-FirstCall/ -- Bradley Pharmaceuticals, Inc. announced today that it has filed with the Securities and Exchange Commission its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2005, June 30, 2005 and September 30, 2005.
Net Sales for the nine months ended September 30, 2005 reached $102.4 million, an increase of $27.0 million, or 36%, over Net Sales for the nine months ended September 30, 2004. Net Income for the nine months ended September 30, 2005 reached $9.0 million, a decrease of $4.9 million, or 35%, in comparison to the nine months ended September 30, 2004. Earnings Per Diluted Share for the nine months ended September 30, 2005 amounted to $0.53, based upon 18.2 million fully diluted shares outstanding, versus $0.79, based upon 18.4 million fully diluted shares outstanding, for the nine month period ended September 30, 2004.
For the nine months ended September 30, 2005, Doak Dermatologics’ Net Sales were approximately $37.9 million, Net Sales of Bioglan Pharmaceuticals, acquired on August 10, 2004, were approximately $46.9 million, and Kenwood Therapeutics’ Net Sales were approximately $17.6 million.
The Company’s Annual Report on Form 10-K for the year ended December 31, 2005, which shall contain the Company’s 2005 audited financial statements, is anticipated to be filed with the SEC by the end of April 2006.
For more detailed information please see our filings, including our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2005, June 30, 2005 and September 30, 2005, by visiting http://www.bradpharm.com and clicking on the Investor Relations link, then on SEC filings.
Bradley Pharmaceuticals, Inc. was founded in 1985 as a specialty pharmaceutical company and markets to niche physician specialties in the U.S. and 38 international markets. Bradley’s success is based on the strategy of Acquire, Enhance and Grow. Bradley Acquires non-strategic brands, Enhances these brands with line extensions and improved formulations and Grows the products through promotion, advertising and selling activities to optimize life cycle management. Bradley Pharmaceuticals is comprised of Doak Dermatologics, specializing in topical therapies for dermatology and podiatry; Kenwood Therapeutics, providing gastroenterology, respiratory and other internal medicine brands; and A. Aarons, which will market authorized generic versions of Doak and Kenwood therapies.
Important announcement:
Doak Dermatologics continues its dedicated support of the American Academy of Dermatology that dates to the organization’s inception. Doak will be an Emerald sponsor of the 64th Annual Meeting of the AAD, to be held in San Francisco, CA, March 3-7, 2006.
Daniel Glassman will present the POLYPHENON(R) E Ointment agreement at an Investor Conference while at the AAD meeting in San Francisco, CA, March 3, 2006.
Daniel Glassman will present at the Raymond James & Associates 27th Annual Institutional Investors Conference, Hyatt Regency Grand Cypress in Orlando, FL, March 7, 2006.
MediGene AG POLYPHENON(R) E Ointment agreement to be presented at an Investor Conference, in Frankfurt, Germany. March 22, 2006.
Daniel Glassman will present at the CIBC World Markets Annual Specialty Pharmaceutical & Biotechnology Conference, to be held at the Millennium Broadway Hotel in New York City, April 4-5, 2006.
Daniel Glassman will present at the Banc of America Securities LLC, Health Care Conference 2006, to be held at The Four Seasons Hotel in Las Vegas, NV, May 16-18th, 2006.
Daniel Glassman will present a case study on Optimizing Lifecycle Management for a Product with Limited Patent Protection at the MedAd News’ Specialty Pharmaceuticals Summit, June 6-8, 2006 at 8:45 AM at the Park Hyatt, Philadelphia, PA.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that address activities, events or developments that Bradley expects, believes or anticipates will or may occur in the future, such as sales and earnings estimates, other predictions of financial performance, timing of payments on indebtedness, timing of our filings with the SEC, launches by Bradley of new products and market acceptance of Bradley’s products. Forward-looking statements are based on Bradley’s experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances and are subject to numerous risks and uncertainties, many of which are beyond Bradley’s control. These risks and uncertainties include Bradley’s ability to estimate sales, ability to comply with the restrictive covenants under its credit facility; ability to refinance its credit facility, if necessary; ability to access the capital markets on attractive terms or at all; ability to favorably resolve the pending SEC informal inquiry and file required financial statements with the SEC in accordance with the Company’s announced timetable, maintain sales of its products, successfully acquire, develop, integrate, or sell new products, including POLYPHENON(R) E Ointment when and if approved by the FDA, or effectively react to other risks and uncertainties described from time to time in Bradley’s SEC filings, such as fluctuation of quarterly financial results, estimation of product returns, chargebacks, rebates and allowances, concentration of customers, reliance on third party manufacturers and suppliers, litigation or other proceedings (including the pending class action lawsuits), government regulation and stock price volatility. Further, Bradley cannot accurately predict the impact on its business of the approval, introduction, or expansion by competitors of generic or therapeutically equivalent or comparable versions of Bradley’s products or of any other competing products. In addition, actual results may differ materially from those projected. Bradley undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Bradley Pharmaceuticals common stock is listed on the NYSE under the symbol BDY.
Please visit Bradley Pharmaceuticals web site at: http://www.bradpharm.com
Bradley Pharmaceuticals, Inc.
CONTACT: Anthony Griffo, Investor Relations of Bradley Pharmaceuticals,Inc., +1-973-882-1505, ext. 313
Web site: http://www.bradpharm.com/
