Advertisement
YOU ARE HERE: LAT HomeCollections

EARNINGS

Newport Pharmaceuticals Reduces Its Quarterly Loss

November 26, 1986|JAMES S. GRANELLI

Increased revenues from sales helped Newport Pharmaceuticals International Inc. cut its losses in its fiscal 1987 second quarter and first half.

For the quarter ended Oct. 31, the Newport Beach firm reported a net loss of $206,000, compared with a $222,000 net loss in last year's second quarter. Revenues rose 12.5% to $2.7 million from $2.4 million.

For the first six months, the 18-year-old company posted a net loss of $254,000, compared with a $493,000 loss in the same period in its fiscal 1986. Revenues in the period rose 11% to $5 million from $4.5 million.

The company manufactures the proprietary drug Isoprinosine, which is sold in a number of foreign markets as an immune system booster. The drug has not been approved for sale in the United States.

Advertisement
Los Angeles Times Articles
|
|
|