Finance

Active drug delivery company reports 7% decrease in sales

Published in Law and Health Weekly, September 24th, 2005

Iomed, Inc., (IOX) reported financial results for the fourth quarter and fiscal year ended June 30, 2005. Fourth quarter and fiscal year sales decreased from the prior year.

However, the company's cash position remained strong and operating cash flow exceeded $1.1 million for fiscal 2005.

For the quarter ended June 30, 2005, sales decreased 7% to $2,941,000 compared with $3,163,000 a year ago. Lower product sales were primarily a result of a reduction in the company's average selling prices. Fourth quarter sales increased slightly from third quarter sales. Gross margin for the fourth quarters of fiscal 2005 and 2004 was 61.6%.

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Source: Law and Health Weekly (2005-09-24)

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