AMITYVILLE, N.Y.--(BUSINESS WIRE)--Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) today reported results for the fourth quarter and year ended April 30, 2011.
Fourth Quarter Results
For the three months ended April 30, 2011, the Company reported net sales of $57.2 million, an increase of 45% from $39.4 million for the same period last year.
During the quarter ended April 30, 2011, net sales of generic pharmaceutical products were $48.0 million, an increase of 59% compared to $30.2 million for the same fiscal 2010 period. The primary reason for the change was an increase in sales of Fluticasone Propionate nasal spray. Sales of Fluticasone Propionate nasal spray totaled $26.9 million up from $6.4 million in the same fiscal 2010 period. New product launches such as Gabapentin oral solution also contributed to the positive results. Sales of Dorzolamide with Timolol ophthalmic solution and Dorzolamide ophthalmic solution totaled $5.9 million.
