WAKEFIELD, Mass.--(BUSINESS WIRE)--July 26, 2006--PolyMedica Corporation (NASDAQ:PLMD - News):
Highlights: PolyMedica Corporation (NASDAQ: PLMD - News) today reported revenue growth of 52% to $155.9 million in the first fiscal quarter of 2007, compared with $102.5 million for the same period last year. Income from continuing operations, net of taxes, for the quarter was $5.9 million, or $0.25 per diluted share. The financial results for the quarter ended June 30, 2006, were impacted by the required adoption of Statement of Financial Accounting Standards (SFAS) No. 123R, "Share-Based Payment," which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the financial statements based on their fair values. The Company recognized $3.0 million of pre-tax compensation expense ($1.9 million after taxes, or $0.08 per diluted share) during the first quarter of fiscal 2007.
