Citing surging sales of its entire line of drugs, SPI Pharmaceuticals reported a more than threefold jump in earnings in its fourth quarter and a 67% profit increase for the entire 1984 fiscal year.
In the three-month period ended Nov. 30, the Costa Mesa company earned $1 million, compared to $303,000 in the final quarter of 1983. Quarterly revenues were $7.7 million, an 80% increase from the $4.3 million recorded in the prior-year period.
For the entire 1984 fiscal year, SPI earned $2.3 million, compared to $1.4 million the year earlier. Annual revenues were $23.9 million, up 29% from the $18.5 million recorded in 1983.
SPI is a majority-owned subsidiary of ICN Pharmaceuticals Inc. of Costa Mesa. In the 1984 fiscal year, ICN reported earnings of $871,000, 60% below the $1.35 million earned in 1983.