Business & Finance

QMed, Inc. reports third quarter results

Published in Health Business Week, November 10th, 2006

QMed, Inc. (QMED) announced financial results for the third quarter ending August 31, 2006 with revenue for the three-month period decreasing to $2,202,270 from $5,504,634 in the prior year's quarter.

Net loss for the quarter was $(3,317,401) or ($.20) per share, compared to net income of $992,237 or $.05 per share on a diluted basis, for the same period a year ago.

The company has been notified by HealthSuite Partners, a joint venture with Alere Medical, AirLogix and the company that the HealthSuite Partners contract with HealthPartners, a Minnesota managed care organization, would not be extended beyond April 5, 2007. In the third quarter, the...

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Source: Health Business Week (2006-11-10)

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