IPXL Posts 294% Jump In Q4 Revenues

Impax Laboratories, Inc (NASDAQ: IPXL) has reported its strongest financial results in its history, driven by record sales from its Global products sales channel.

IPXL’s net income rose to $38.1 million, or $0.61 per diluted share, compared to $9.0 million, or $0.15 per diluted share, in the prior year. Excluding special items impacting comparability from the year-ago period, net income increased to $42.7 million, or $0.69 per diluted share, as compared to a loss of $4.6 million a year before. The company’s revenues jumped 294.0% year/year to $176.1 million, up $131.4 million over the year-ago period. The results beat the consensus expectations of profits of $0.14 on revenues of $91.4 million.

For the year, Impax Laboratories’ net income jumped to $50.1 million, or $0.82 per diluted share, as compared to $16.0 million, or $0.26 per diluted share in the prior year. Excluding special items, the company’s net income increased to $55.9 million, or $0.91 per diluted share, as compared to $1.9 million or $0.03 per diluted share a year ago.

IPXL’s shares soared 8.39% to $16.15 in pre-market trading.

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