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Earnings

SPI Pharmaceuticals Inc., which is owned primarily by ICN...

June 27, 1989

SPI Pharmaceuticals Inc., which is owned primarily by ICN Pharmaceuticals Inc., posted record net income of $3.8 million for its second quarter ended May 31. That represents a 27% increase from the $3 million reported for the same period last year. Sales in the quarter rose 10% to $30.3 million from $27.5 million. For the first half, net income totaled $6.4 million, 47% higher than the $4.4 million posted a year earlier. Sales increased 17% to $59.9 million from $51.1 million. The Costa Mesa-based pharmaceutical products manufacturer said sales growth in its international operations, particularly in Mexico, contributed to the second-quarter gains.

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