This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IGI Laboratories Announces 2nd Quarter 2012 Results

IGI Laboratories, Inc. (NYSE Amex: IG), a New Jersey based topical generic drug development and manufacturing company, provided its financial results for the second quarter ended June 30, 2012.

Second Quarter 2012 Highlights vs. 2011
  • Total revenues of $2.4 million for Q2 2012, an increase of 20% over same quarter in 2011
  • Total year to date revenues of $4.3 million, an increase of 19% over the same period in 2011
  • In Q2 2012, IGI submitted three additional abbreviated new drug applications (ANDAs) to the US FDA, bringing the company’s total number of submissions to eight
  • Gross margins improved to 31% in Q2 2012 as compared to 25% in Q1 2012, and were unchanged from Q2 2011
  • Gross margins year to date improved to 29% in 2012 as compared to 27% in 2011
  • Net loss was reduced by $0.4 million to $0.6 million in Q2 2012 as compared to $1.0 million in the same quarter in 2011
  • Net loss per share was $0.01 per share in the second quarter of 2012 as compared to $0.02 in 2011
  • Net loss included research and development costs of $0.6 million and $0.8 million in 2012 and 2011
  • IGI announced the appointment of Jason Grenfell-Gardner as President and CEO

IGI’s President and Chief Executive Officer, Jason Grenfell-Gardner, stated, “IGI completed its second quarter with total revenues of $2.4 million, which is a record quarter for IGI. IGI’s total cash used in operations was $0.9 million, therefore, excluding our $1.1 million of research and development costs year to date to develop our own portfolio of products, our contract formulation and manufacturing services business generated $0.2 million in cash. IGI’s continued improvement in our financial results and successful submission of three ANDAs in the second quarter is certainly a testament to the strong team in place at IGI and I look forward to working with the team to continue to execute on our business plan, to be a leading developer and manufacturer of generic topical prescription drug products.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs