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Hi-Tech Pharmacal Reports Sales Of $58.5 Million For The Fourth Quarter Ended April 30, 2013

Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) today reported results for the fourth quarter and year ended April 30, 2013.

  • Net sales of $58.5 million for the fourth quarter compared to $61.3 million for the same prior year period
  • GAAP loss of $4.6 million or $0.34 per diluted share for the fourth quarter
  • Adjusted non-GAAP net income of $6.9 million or $0.50 per diluted share for the fourth quarter
  • Net sales of $232.4 million for the fiscal year compared to $230.0 million for the same prior year period
  • GAAP income of $16.3 million or $1.19 per diluted share for the fiscal year
  • Adjusted non-GAAP net income of $31.0 million or $2.28 per diluted share for the fiscal year
        Fourth Quarter       Fiscal Year
  2013           2012   2013         2012
Net sales $ 58,473,000 $ 61,292,000 $ 232,384,000 $ 230,003,000
GAAP net income $ (4,617,000 ) $ 9,989,000 $ 16,251,000 $ 48,351,000
Adjusted non-GAAP net income $ 6,868,000 $ 11,033,000 $ 31,049,000 $ 51,796,000
GAAP Diluted EPS $ (0.34 ) $ 0.73 $ 1.19 $ 3.59
Adjusted non-GAAP Diluted EPS $ 0.50 $ 0.81 $ 2.28 $ 3.85

(see Table I for reconciliation to GAAP numbers)

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