SCHAUMBURG, Ill., Nov. 5, 2013 (GLOBE NEWSWIRE) -- Sagent Pharmaceuticals, Inc. (Nasdaq:SGNT) today announced financial results for the quarter ended September 30, 2013. Third Quarter 2013 Highlights
- Revenue increased 23% to $60.8 million driven by products launched in the last twelve months;
- Reported gross profit increased 157% to $18.6 million, or 31% of net revenue, inclusive of $1.1 million of incremental expense due to unabsorbed manufacturing costs at our SCP facility;
- Adjusted Gross Profit 1 increased 102% to $19.1 million, or 31% of net revenue;
- Net income of $2.8 million, or diluted earnings per share of $0.10, and
- Completed secondary offering of 3,542,470 new shares of common stock receiving $70.6 million of net proceeds to support continued investment in product pipeline and SCP.