Draxis posts Q2 earnings estimate

AuntMinnie.com staff writers
Jul 19, 2007

Canadian firm Draxis Health of Mississauga, Ontario, expects to post estimated diluted net earnings of 4¢ U.S. per share for the second quarter of 2007 (end-June 30).

The company believes three factors affected its results for the second quarter: the strengthening of the Canadian dollar as compared to the U.S. dollar; production delays at Draxis Pharma, Draxis Health's contract manufacturing division; and lower than expected volumes of radioactive iodine I-131 products produced by DraxImage, Draxis Health's radiopharmaceutical division, due to a lack of availability of I-131 raw material.

Draxis plans to report results for the second quarter on August 9, and will also update its annual guidance for the remainder of 2007 at that time.

By AuntMinnie.com staff writers
July 20, 2007

Related Reading

Draxis hires DeChambre for business development, May 29, 2007

Draxis to join Nasdaq Biotechnology Index, May 16, 2007

Draxis grows Q1 revenues, net income, May 10, 2007

Draxis shows Q4, year-end strength, February 8, 2007

DraxImage to bring generic sestamibi to market, February 2, 2007

Copyright © 2007 AuntMinnie.com

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