CHICAGO, July 15, 2013 /PRNewswire/ -- The Female Health Company (NASDAQ-CM: FHCO - News) (the "Company") today provided information regarding its financial expectations for the third quarter of FY2013. The Company announced that while it expects the quarter ended June 30, 2013 (third quarter of FY2013) to be profitable, unit shipments, revenue and operating income will trail prior-year levels. For the first nine months of FY2013, the Company expects to report higher unit shipments, revenue, and operating income relative to the corresponding period of the previous fiscal year.
The Company has routinely noted in its SEC filings and press releases that unit shipments and revenue can fluctuate significantly on a quarter-to-quarter basis due to the timing and shipment of orders. The Company will report its operating results for the three and nine months ended June 30, 2013 on August 1, 2013 and will host an investor conference call at 11:00 a.m. Eastern Time on that date to comment upon the financial results and other topics of interest. Details for accessing the conference call will be forthcoming in a future press release.
"While quarterly sales can fluctuate significantly and have done so in the past, the long-term outlook remains positive. We believe the market for FC2 will continue to expand due to the feminization of HIV/AIDS and its increased role in family planning." stated O.B. Parrish, Chairman and Chief Executive Officer of The Female Health Company. "The global HIV/AIDS pandemic is currently the leading cause of death among women of reproductive age (15-44), and women now comprise more than 50% of new adult HIV/AIDS cases.""On a long-term basis, we also expect FC2 demand to be favorably impacted by the targeted efforts of global health organizations and women's groups to supply women in developing countries with more effective family planning tools, including contraceptives, " continued Parrish. " FC2, which is now available in 139 countries around the world, is the only product cleared by the FDA and approved by the World Health Organization that gives women control of their sexual health, protecting them against both sexually-transmitted infections and unintended pregnancies. We believe this unique, dual protection feature of our product will positively impact FC2 demand and unit sales, which have grown at a compound average annual rate of 23.7%, in spite of periods of quarterly fluctuations, over the last seven years. Based on the favorable long-term outlook, the Company's currently reviewing options to expand its manufacturing capacity." The Female Health Company also announced that its Board of Directors has declared a quarterly cash dividend of $0.07 per share. The dividend is payable August 7, 2013 to stockholders of record as of July 31, 2013. This represents the fifteenth consecutive quarterly cash dividend declared by the Company since it announced the initiation of a cash dividend policy in January 2010. The annualized cash dividend rate of $0.28 per share provides investors with a 2.8% current yield, based upon the closing price for FHCO shares on July 12, 2013. Any future quarterly dividends and the record date for any such dividends must be approved by the Company's Board of Directors and announced by the Company. Payment of future dividends is at the discretion of the Board of Directors, which will base its decisions on operating cash flows, capital spending and other cash requirements, and other factors that may affect whether or not it believes the continued payment of dividends is in the best interests of the Company and its shareholders.
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