Business
Axcan reports fourth quarter and year-end 2005 financial results - Company generates record revenues of $67.0 million for the quarter
Axcan reports fourth quarter and year-end 2005 financial results - Company generates record revenues of $67.0 million for the quarter.
About this update from Trailbreaker Resources Ltd
[{"type":"text","content":"\n\n\n\n\nTSX SYMBOL (Toronto Stock Exchange): AXP\nNASDAQ SYMBOL (NASDAQ National Market): AXCA\n\nMONT-SAINT-HILAIRE, QC, Nov. 10 /CNW Telbec/ - Axcan Pharma Inc. \n(NASDAQ: AXCA) (TSX: AXP), a leading gastroenterology specialty pharmaceutical\ncompany, today announced its operating results for the fourth quarter and\nfiscal year ended September 30, 2005. All amounts are stated in U.S. dollars.\nSales for the fourth quarter are the highest quarterly sales ever\nrecorded in the history of Axcan. Total revenues for the three months ended\nSeptember 30, 2005 were $67.0 million, compared with $60.9 million for the\nfourth quarter of 2004, an increase of 10.0%. Total revenues for the 12-month\nperiod ended September 30, 2005, were $251.3 million, compared with\n$243.6 million for 2004, an increase of 3.2%.\nFourth-quarter 2005 net income was $9.1 million, compared with net income\nof $13.3 million for the corresponding 2004 period. Net income for the year\nended September 30, 2005 totaled $26.4 million, compared with net income of\n$48.7 million in 2004. Diluted earnings per share (EPS) for the fourth quarter\nof 2005 were $0.19, versus diluted earnings per share of $0.26 for the same\nperiod in 2004. Diluted EPS for the fiscal year 2005 were $0.56, compared with\ndiluted earnings per share of $0.96 the prior year.\n\"Axcan's record fourth quarter and full year revenues reflect the\nstrength of our current product portfolio. We are pleased to report that, for\nfiscal 2005, the products that we promote for which prescription data is\navailable, showed overall prescription growth of approximately 8%,\" said\nDr. Frank Verwiel, President and Chief Executive Officer of Axcan. \"Based on\nour best estimate, at September 30, 2005, the overall wholesaler inventory\nlevels were within our target range and relatively stable during the fourth\nquarter. Our models indicate that the total impact of changes in wholesaler\ninventories resulted in increased revenues of less than $1 million during the\nquarter. Going forward, we will continue to work on enhanced monitoring of\nwholesaler inventory levels. At the same time, our sales and marketing teams\nare committed to increasing prescriptions of our current products, both in\nNorth America and Europe,\" he added.\n\"Our ITAX development is currently on track with our previously\ndisclosed, revis...