SCHAUMBURG, Ill., Feb. 11, 2014 (GLOBE NEWSWIRE) -- Sagent Pharmaceuticals, Inc. (Nasdaq:SGNT), a leader of specialty pharmaceutical products with a specific emphasis on the injectable market, today announced financial results for the fourth quarter and fiscal year ended December 31, 2013. Fourth Quarter 2013 Highlights
- Revenue increased 20% to $64.1 million driven by products launched in the last twelve months;
- Reported gross profit increased 49% to $17.3 million, or 26.9% of net revenue, inclusive of $2.2 million of incremental expense due to unabsorbed manufacturing costs at our SCP facility;
- Adjusted Gross Profit 1 increased 38% to $18.1 million, or 28.2% of net revenue;
- Net income of $3.6 million, or diluted earnings per share of $0.11; and
- Seven new products launched, including Propofol and Carboplatin, the first product manufactured at our SCP facility, increasing the total for fiscal 2013 to 12 new product launches.