Zila, Inc. (NASD: ZILAD), a marketer and reseller of over-the-counter, non-prescription oral and dermatological products, recently reported financial results for its fiscal 2008 fourth quarter and full year ended July 31, 2008. Net revenues for the fourth quarter increased 14 percent to $11.9 million, compared with $10.4 million during the corresponding period one-year earlier. Net revenues for fiscal year 2008 climbed 57 percent to $45.1 million, compared with $28.8 million for fiscal 2007.
Supporting the gains in net revenues, sales of ViziLite® Plus posted a year-over-year increase of 46 percent to $3.9 million, representing the eighth consecutive quarter of revenue growth for the product line. ViziLite® Plus with TBlue® is the Zila’s flagship product for the early detection of oral abnormalities that could lead to cancer. ViziLite® Plus is an adjunctive medical device cleared by the FDA for use in a population at increased risk for oral cancer.
Commenting on the financial results during a recent conference call, the company’s vice president of finance, Diane Klein, stated, “Gross profit grew to 66 percent of net revenues in the fourth quarter, compared to 61 percent of net revenues in the fourth quarter of 2007. This improvement in gross profits is the result of higher margin ViziLite® sales, selective price increases and cost reduction measures.” As a result of a recent 1 for 7 reverse stock split, the company’s stock has traded above $1.00 for ten consecutive days and is no longer subject to delisting under NASDAQ rules.
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