NESS ZIONA, Israel, May 16, 2017 (GLOBE NEWSWIRE) -- Kamada Ltd. (Nasdaq:KMDA) (TASE:KMDA.TA), a plasma-derived protein therapeutics company focused on orphan indications, today announced financial results for the first quarter ended March 31, 2017.
“Our first quarter revenues were impacted by a delay in completing a periodic validation of our filling line which resulted in a delay of shipping product batches,” said Amir London, Kamada’s Chief Executive Officer. “Subsequent to the end of the first quarter, the validation was successfully achieved and the delayed shipments will be made. As a result, all delayed revenues from our Proprietary Products segment, worth approximately $11.5M in revenue, will be shifted from the first quarter and recorded in the second quarter of this year. We remain highly confident in our ability to attain our previously stated guidance of reaching $100 million in total revenue in 2017, out of which $76 to $78 million will come from our Proprietary Products segment representing at least 36% growth year-over-year compared to 2016.”
“Our first quarter revenues were impacted by a delay in completing a periodic validation of our filling line which resulted in a delay of shipping product batches,” said Amir London, Kamada’s Chief Executive Officer. “Subsequent to the end of the first quarter, the validation was successfully achieved and the delayed shipments will be made. As a result, all delayed revenues from our Proprietary Products segment, worth approximately $11.5M in revenue, will be shifted from the first quarter and recorded in the second quarter of this year. We remain highly confident in our ability to attain our previously stated guidance of reaching $100 million in total revenue in 2017, out of which $76 to $78 million will come from our Proprietary Products segment representing at least 36% growth year-over-year compared to 2016.”
