LONDON, UK / ACCESSWIRE / January 16, 2018 / Active-Investors.com has just released a free earnings report on Veru Inc. (NASDAQ: VERU). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=VERU. The Company posted its financial results on December 02, 2018, for the fourth quarter fiscal 2017. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Veru most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For three months ended September 30, 2017, Veru's net revenues increased 3.6% to $3.69 million from $3.56 million in Q4 FY16. The Company's revenue was below analysts' expectations of $3.80 million.
During FY17, the Company's net revenue decreased 38.3% to $13.66 million from $22.13 million in FY16.
For the reported quarter, the Company's gross profit decreased 4% to $1.79 million from $1.87 million in Q4 FY16. For the reported quarter, the Company's gross margin decreased 300 basis points to 49% of revenue from 52% of revenue in Q4 FY16.
During FY17, the Company's gross profit decreased 47.4% to $7.02 million from $13.35 million in FY16. The Company's gross margin decreased 900 basis points to 51% of revenue in FY17 from 60% of revenue in FY16.
During Q4 FY17, the Company's operating expenses increased 111.4% to $4.57 million from $2.16 million in the same period last year.
For the reported quarter, the Company's operating loss was $2.77 million compared to operating loss of $0.29 million in Q4 FY16.
During FY17, the Company's operating loss was $8.49 million compared to operating income of $3.02 million in FY16.
During Q4 FY17, Veru's earnings before tax (EBT) was negative $2.81 million compared to negative $0.31 million in the same period last year.
During FY17, the Company's EBT was negative $8.60 million compared to positive $2.81 million in FY16.
For the reported quarter, Veru's net loss was $4.67 million compared to net loss of $1.75 million in Q4 FY16. During Q4 FY17, the Company's diluted EPS was negative $0.10 compared to negative $0.06 in the same period last year. Adjusted diluted EPS was below analysts' expectations of negative $0.04.
During FY17, the Company's net loss was $8.60 million compared to net income of $0.34 million in FY16. The Company's diluted EPS was negative $0.25 in FY17 compared to positive $0.01 in FY16.
Balance Sheet
As on September 30, 2017, Veru's cash increased 37.4% to $3.28 million from $2.39 million on September 30, 2016.
For the reported quarter, the Company's net accounts receivable decreased 67% to $3.56 million from $10.78 million in Q4 FY16. For the reported quarter, Veru's accounts payable increased 283.1% to $2.69 million from $0.70 million in Q4 FY16.
For the reported quarter, the Company's net inventory increased 11% to $2.77 million from $2.49 million in Q4 FY16. For the reported quarter, Veru's total assets increased 43.2% to $55.31 million from $38.62 million in Q4 FY16.
During FY17, the Company's net cash provided by operating activities was positive $0.98 million compared to negative $1.71 million in FY16.
On December 11, 2017, the Company announced that it has acquired world-wide rights to a novel, proprietary oral granule formulation for solifenacin from Camargo Pharmaceuticals Services, LLC.
On December 15, 2017, the Company acquired world-wide rights to Tadalafil-Finasteride combination capsules formulation from Camargo Pharmaceuticals Services, LLC.
Stock Performance Snapshot
January 12, 2018 - At Friday's closing bell, Veru's stock advanced 4.26%, ending the trading session at $1.47.
Volume traded for the day: 77.07 thousand shares.
Stock performance in the last month – up 47.00%; previous six-month period – up 36.11%; past twelve-month period – up 49.04%; and year-to-date – up 28.95%
After last Friday's close, Veru's market cap was at $78.17 million.
The stock is part of the Healthcare sector, categorized under the Drug Manufacturers - Other industry. This sector was up 0.7% at the end of the session.
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