Velan Inc. Reports its Third Quarter 2011/12 Financial Results
Thursday, January 12, 2012
Net earnings amounted to $4.0 million or $0.18 per share
compared to $11.9 million or $0.54 per share last year in the third quarter
ending November 30, 2011. Excluding the results of Velan ABV, the effects of
purchase price accounting and currency impacts, the company would have reported
net earnings of $6.4 million or $0.29 per share in the current quarter compared
to $6.8 million or $0.30 per share last year.
Net new orders received amounted to $93.3 million, a decrease
of $65.2 million or 41.1% compared to last year. Excluding ABV and currency
impacts, the decrease was $45.0 million or 28.4%. More...