Rockwell Medical Reports Record Second Quarter Results
- Revenues Increase 19.2 %; Gross Profit Increases 49% -
- Conference Call at 8:30am ET to Discuss Results and Review Clinical Development -
WIXOM, Mich., Aug. 5, 2010 (GLOBE NEWSWIRE) -- Rockwell Medical (Nasdaq:RMTI), a fully-integrated biopharmaceutical company offering innovative products and services targeting end-stage renal disease (ESRD), chronic kidney disease (CKD) and iron deficiency anemia, reported second quarter 2010 results today.Second Quarter Financial Highlights
- Sales increased to $15.5 million, up 19.2% compared to the second quarter of 2009.
- Gross profit increased to $2.8 million, up 49% or $0.9 million compared to the second quarter of 2009.
- Gross profit margins increased to 17.9%, compared to 14.3% in the second quarter of 2009.
- R&D expense was $0.4 million, compared to $2.0 million in the second quarter of 2009.
- Net income was $.01 per share, compared to a loss of ($.12) per share in the second quarter of 2009.
- Net income was $0.1 million, compared to a loss of ($1.7) million in the second quarter of 2009.
- Sales increased to $30.5 million, up 18.1% compared to the first half of 2009.
- Gross profit increased to $5.1 million, up 67% or $2 million compared to the first half of 2009.
- Gross profit margins increased to 16.7%, compared to 11.8% in the first half of 2009.
- R&D expense was $1.0 million, compared to $3.3 million in the first half of 2009.
- Net loss was ($.02) per share, compared to a loss of ($.25) per share in the first half of 2009.
- Net loss was ($0.3) million, compared to a loss of ($3.4) million in the first half of 2009.
- Cash and cash equivalents were $24.2 million at June 30, 2010, an increase of $1.2 million from December 31, 2009.
- Successfully completed End of Phase II meeting with the FDA; confirmed approvable Phase III primary endpoint.
- Presented SFP Phase IIb study data at European Dialysis Conference.
- Appointed Dr. Ajay Singh to Scientific Advisory Board.
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