Par reports $1.3 million Q3 profit
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- December
- 20
Par Pharmaceutical Cos. Inc., which employs about 400 people in Chestnut Ridge, earned $1.3 million, or 4 cents a share, during the third quarter, compared with $4.4 million, or 13 cents a share, during the third quarter of last year, the company reported this morning.
Revenues were up to $212.7 million from $174 million.
The company said its results during this year’s quarter were affected by $16.2 million in costs related to business development in Strativa, which is Par’s branded drug division.
Without those costs, the profit would have been $11.1 million, or 32 cents a share.
The results from last year’s third quarter included $7.1 million in severance costs and a gain of $1.2 million from the sale of product rights.
Without the special expenses and gains last year, Par, which is based in Woodcliff Lake, N.J., earned $8 million, or 23 cents a share.
This entry was posted
on Thursday, December 20th, 2007 at 10:31 am by Allan Drury.
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