LARGO, Fla., Feb. 14 /PRNewswire-FirstCall/ -- GeoPharma, Inc. announced record revenues of $18.2 million for the third quarter representing more than a 200% increase in sales sequentially, as it reported financial results for the three and nine month periods ending December 31, 2007.
“We are pleased to report greatly improved financial results for the third quarter of our 2008 fiscal year; it demonstrates the benefit of the earlier executed Dynamic Health Products acquisition and showcases significant progress in our efforts to achieve critical mass of over 100 million dollars in revenues for our 2009 fiscal year which ends in March of 2009,” stated GeoPharma CEO Mihir Taneja. “Although we are pleased with our financial progress, the third quarter was full of challenges that weighed on our results, which provides us with further confidence that we will see continued strength in the fourth quarter and the foreseeable future.”
CONFERENCE CALL INFORMATION
GeoPharma will host a conference call to discuss results on Thursday, February 14, 2008 at 11:30 (ET) with CEO, Mihir Taneja and VP/CFO, Carol Dore-Falcone. Interested parties may participate in the conference call by dialing 1-888-680-0869 and entering pass code 78555682, 5 minutes prior to the initiation of the call. A replay of the conference call will be available from 1:30 PM (ET) on February 14 through February 21, by dialing 1-888-286-8010 and entering pass code 37538422.
Webcast registration (http://phx.corporate- ir.net/phoenix.zhtml?c=120778&p=IROL-Guestbook&UniqueId=1754335&mp=irol- eventDetails&mpdp=EventId~1754335!WebCastId~724916!StreamId~1051110&pp=IROL- BasicWebCast&ppdp=EventId~1754335!WebCastId~724916!StreamId~1051110&pph=339&pp w=270&rdu)
ABOUT GEOPHARMA, INC.:
GeoPharma, Inc. is a rapidly growing Bio/Pharma company with a diversified business model participating in 3 main market segments: Specialty Pharma, Manufacturing, and Distribution. The Specialty Pharma division specializes in the formulation of generic drugs for human and veterinary usage and the development of medical devices used by oncologists and other medical professionals. The Manufacturing and Distribution divisions, manufacture, package, and distribute generic drugs, nutraceuticals, cosmetics, and functional food products for companies worldwide.
GeoPharma’s growth strategy is to capitalize on its research and manufacturing expertise to develop medical devices and high margin generic drug products for niche markets with high barriers to entry. GeoPharma’s competitive advantage in these areas is in its ability to navigate the challenges that such market pursuits present effectively.
Currently GeoPharma employs nearly 300 people and operates facilities in Florida, Maryland, Pennsylvania, Nevada, Rhode Island, and Texas utilizing over 330,000 Sq. Ft. of office, warehouse, manufacturing and laboratory facilities.
For further information visit the “For Investors” section of the GeoPharma website at www.geopharmainc.com.
FORWARD LOOKING STATEMENTS
This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries’ expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company’s management as of the date hereof, and actual results may vary based upon future events, both within and without management’s control. Important factors that could cause such differences are described in the company’s periodic filings with the Securities and Exchange Commission.
CONTACT: Alexander Nachman, Director of Investor and Media Relations of
GeoPharma, Inc., +1-1-727-471-0850, ext. 243, IR@GeoPharmainc.com
Web site: http://www.geopharmainc.com/
