NS8 Corporation Predicts Very Positive Q4 Sales Results
During Q4, domestic formulation business recorded sales of ₪49M ILS, growing 17%.
- (1888PressRelease) February 25, 2011 - Tel-Aviv-based pharma major, NS8, today released its preliminary financial sales results for the quarter (Q4) ended 31st December, 2010. The Q4 sales stood at ₪107M ILS ($29M USD), up by 20% from ₪85M ILS of the comparable quarter last year, on the back of robust growth in domestic formulation business and continued buoyancy in international business partially offset by adverse currency movements.
During Q4, domestic formulation business recorded sales of ₪49M ILS, growing 17%.
Sales outside Israel jumped 18% to ₪57M ILS. Operations in China registered impressive performance with sales growth of 12% ₪16M ILS. South East Asia-based operations (other than China) recorded sales of ₪14M ILS with growth of 16%. The CIS operations grew 20% with sales of ₪15M ILS rising from ₪12M ILS in comparable quarter. The Rest of the World operations remained a steady ₪11M ILS. The Company has recently entered the UK and US markets.
Operating profits for the quarter grew by 5% at ₪43M ILS. Profits were affected due to planned expansions in domestic and international markets and adverse currency movements. Net profit for the quarter was ₪17M ILS compared to ₪16M ILS during the same period last year.
For YTD, sales increased 18% to ₪408M ILS compared with ₪334M ILS for the corresponding period last year. YTD sales outside Israel stood at ₪200M ILS reflecting growth of 19%. YTD operating profits at ₪64M ILS was 6% higher compared to ₪60M ILS in the previous period.
Significant investment in product development is being made to support the build-up of US and UK operations. The total revenue expenditure on R&D was 5.8% (previous year 6.3%) of consolidated net sales and operating income.
About NS8
NS8 was established in 2002 by Dr. Levi Dreyfus as a generic drug manufacturer. NS8's primary markets are Israel, India and China. In June of 2005 our R&D facilities were greatly expanded, which allowed us to develop our own brand of products. We have since marketed products in the CIS, Africa, South East Asia, the U.S. and U.K.
NS8 is focused on increasing the momentum in the generics business in its key markets through organic and inorganic growth routes. Growth is well spread across geographies with focus on developed and emerging markets. It is the Company's constant endeavour to provide a wide basket of generic and innovator products.
Media Contact
Sid Khullar
NS8 Corporation Media Coordinator
press ( @ ) ns8orp dot com
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