Business & Finance
Science-based pharmaceutical company reports first quarter 2005 results
Published in Medical Letter on the CDC and FDA, May 29th, 2005
Taro's sales for the first quarter of 2005 were $78.5 million, compared with sales of $84.1 million for the first quarter of 2004. Gross profit in the first quarter was $43.4 million, compared with $56.4 million for the year-ago quarter. Net income for the quarter was $5.0 million, or $0.17 per diluted share, compared with $11.1 million, or $0.37 per diluted share, for the first quarter of 2004.
Gross profit margin in the first quarter was affected by a number of factors. Cost of goods reflects higher unit costs resulting from...
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