Hi-Tech Pharmacal Co., Inc.’s (HITK) Quarterly Earnings Data Shows Strong Growth
Hi-Tech Pharmacal Co., Inc. reported second fiscal quarter (ending Oct. 31) data today, which showed notable growth from the previous year. HITK’s net sales were up 63%, to $40.9M, from last year for the three-month period, and up 64% for the quarter, excluding the Midlothian Laboratories data, which showed a $1.6M decrease due to discontinuation of cough and cold remedies that failed to obtain approval. Obtained in February of this year, ECR Pharmaceuticals, with its line of branded products, accounted for $4.6M of sales. HITK’s OTC-branded products are marketed by the Health Care Products Division, which saw a 9% jump,…