UNION CITY, Calif.--(BUSINESS WIRE)--Questcor Pharmaceuticals, Inc. (AMEX:QSC) today reported its financial results for the second quarter ended June 30, 2007. Net sales for the second quarter of 2007 were $4.1 million, up 24% from $3.3 million in the second quarter of 2006. Net loss totaled $1.7 million, or $0.02 per share, for the second quarter of 2007, compared to a net loss of $2.2 million, or $0.04 per share, for the second quarter of 2006. Net sales totaled $7.8 million for the six month period ended June 30, 2007, up 47% from $5.3 million in the same period in 2006. Net loss totaled $5.5 million, or $0.08 per share, for the six month period ended June 30, 2007, compared to a net loss of $5.3 million, or $0.10 per share, for the same period in 2006. Questcor’s results for the three and six month periods ended June 30, 2007 include an increase in net sales of $0.6 million resulting from a reduction of Questcor’s estimate of reserves for Acthar product returns as of June 30, 2007. The reduction in the estimate of Acthar product returns resulted from a decrease in Acthar inventories held by Questcor’s wholesaler customers as part of Questcor’s previously announced transition from traditional wholesaler distribution to specialty distribution during June and July.
