SCHAUMBURG, Ill., May 6, 2013 (GLOBE NEWSWIRE) -- Sagent Pharmaceuticals, Inc. (Nasdaq:SGNT), a leader of specialty pharmaceutical products with an emphasis on the injectable market, today announced financial results for the quarter ended March 31, 2013. First Quarter 2013 Highlights
- Revenue increased 57% to $60.2 million driven by products launched in the last twelve months;
- Reported Gross profit increased 220% to $18.5 million, or 30.7% of net revenue;
- Adjusted gross profit 1 increased 196% to $19.2 million, or 31.9% of net revenue;
- Net income of $9.8 million, or diluted earnings per share of $0.34;
- Launched Zoledronic Acid to strong market reception;
- Appointed industry veteran Jim Hussey as President in March; and
- Announced agreement to acquire joint venture partner's 50% interest in KSCP, in furtherance of our strategic objective of vertical integration.