Biotech
GeoPharma(GORX), a drug and nutritional-supplement maker, saw its shares jump after it announced positive quarterly results Tuesday.
GeoPharma earned $793,000, or 7 cents a share, in the second quarter, up from $514,000 and 4 cents a share a year ago. Excluding certain items, the company would have reported earnings of $1.2 million, or 9 cents a share, in the most recent quarter. Revenue for the quarter reached $16.7 million, up 36.5% from a year ago. Shares gained 10.3% to $4.29 on much-heavier-than-normal trading. The stock had been as high as $4.64 earlier in the session. "GeoPharma has now achieved six straight quarters of consistent profitability and record revenues," said CEO Mihir Taneja in a prepared statement. "We are encouraged by the growth of each of our business segments and look forward to receiving [abbreviated new drug application] approvals from the [Food and Drug Administration] which will only further our growth from an income and revenue standpoint."TheStreet Premium Services
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