Nova PharmaceuticalThis Baltimore-based drug research and...

BY THE NUMBERS DtB

October 29, 1991

Nova Pharmaceutical

This Baltimore-based drug research and development company reported yesterday a slightly larger loss in its third quarter, compared with a year earlier, as revenues fell about 1 percent.

Nova said that despite the decrease in total sales, revenue from product sales increased nearly 9 percent, to $9.95 million, during the quarter. Revenue from research and development contracts, however, was down to $2.2 million from nearly $3 million in the year-ago quarter.

The company's loss for the nine months that ended in September also worsened slightly from last year, although total revenue increased more than 70 percent. Hans Mueller, Nova's president and chief executive officer, credited the sales of four .. pyschiatric drugs for the increased revenue. As part of an agreement with SmithKline Beecham, Nova last year received the marketing rights to Thorazine, Stelazine, Eskalith and Parnate, four drugs used in the treatment of psychiatric disorders.

Dr. Mueller said that sales of these four products generated a profit of $1.4 million, representing a 38-percent increase over the same three-month period last year.

Three months ended 9/30/91

Revenue ... ... ... ... ... ... Net ... ... ... ... ... ... Share

'91 12,606,871 ... ... ... ... (3,180,668) .. ... ... ... (0.12)

'90 12,741,800 ... ... ... ... (3,165,701) .. ... ... ... (0.12)

% change ... -1.1 ... ... .. .. -0.5 ... ... .. ... ... ... 0.0

Nine months ended 9/30/91

Revenue ... ... ... ... ... ... Net ... ... ... ... ... ... Share

'91 37,626,449 ... ... ... ... (10,706,711) .. .. ... ... (0.39)

'90 22,058,650 ... ... ... ... (10,015,086) .. .. ... ... (0.37)

% change +70.6 .. ... .. ... .. -6.9 ... ... ... .. ... ... -5.4

Essex Corp.

Essex Corp., a Columbia-based defense contractor and high-technology firm, eked out a tiny, $11,000 profit for the quarter that ended Sept. 29, despite a 33 percent drop in revenue from the same quarter last year.

The company reported that lower government spending on the Trident submarine program was largely responsible for the steep drop in revenues, which tumbled $2.1 million from last year's total of $6.3 million.

Essex attributed the small quarterly profit, which compares with a $37,000 loss for last year's third quarter, to better use of its machine shop resources in its Huntsville, Ala., Space and Defense Division and to lower employee benefit costs.

Three months ended 9/29/91

Revenue ... ... ... ... ... ... Net ... ... ... ... ... ... Share

'91 4,198,000 .. .. .. ... ... 11,000 ... ... ... ... ... 0.01

'90 6,310,000 .. .. .. ... ... (37,000) .. .. ... ... ... (0.02)

% change -33.5 .. .. .. ... ... -- .. ... .. .. ... ... ... --

Nine months ended 9/29/91

Revenue ... ... ... ... ... ... Net ... ... ... ... ... ... Share

'91 12,764,000 ... ... ... ... (545,000) .. .. .. ... ... (0.33)

'90 19,448,000 ... ... ... ... (497,000) .. .. .. ... ... (0.30)

% change -34.4 .. ... ... .. .. -9.7 .. ... ... ... ... ... -10.0

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.