GeoPharma Soars After Results

The stock gains more than 10%.
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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."