Genomma Lab Internacional, S.A.B. de C.V. (BMV: LAB) ("Genomma Lab" or "the Company"), announced today its results for the quarter ended September 30, 2009. All figures included herein were prepared in accordance with Mexican GAAP; figures are stated in nominal Mexican pesos. Also, the following consolidated figures show the Company's Spanish operations reclassified as discontinued operations according to Mexican GAAP.
3Q09 Highlights (vs. 3Q08)
- During the third quarter of 2009, the Company launched Primer Nivel Por Tu Salud generic pharmaceuticals brand; the launch included 167 medical prescription ("RX") and over the counter pharmaceuticals ("OTC") products.
- Also, during the third quarter, Genomma Lab signed a strategic alliance agreement with Grupo Televisa S.A.B. de C.V. (NYSE: TV) to market and distribute OTC and personal care products in the U.S. and Puerto Rico.
- Net Sales for the quarter reached Ps. 1,123.7 million, an increase of 57.9%
- EBITDA(1) increased 43.6%, to Ps. 296.8 million. This represents a 26.4% margin during the period.
- Earnings per Share(2) increased 37.5%, to Ps. 1.09.
- International Net Sales rose 295.9%, to Ps. 187.8 million.
- During the third quarter, Genomma Lab successfully launched four products under three existing brands (Base Brands(3) and Prior Year Launches(4)) as part of our line extension strategy.
- The Company also launched six products under four New Brands(5), as part of its new product launch plan during the third quarter.
(1) EBITDA is calculated by adding pre-operative expenses, depreciation and amortization to the operating income.
(2) Earnings per share are for the last 12 months and were calculated using the weighted average of shares outstanding for the period.
(3) As defined below.
(4) As defined below.
(5) As defined below.
Comments from the Chairman and CEO