“Our entire team is focused on generating immediate revenue by expanding the FC2 Female Condom® business in the global public health sector and as a disposable contraceptive device in the US prescription market, as well as launching the PREBOOST® product,” said Mitchell Steiner, MD, recently named President and Chief Executive Officer of
Commenting on the Company’s financial results, Dr. Steiner added, “Net revenues for the fiscal 2016 fourth quarter and full year reflect, in part, both the longer sales cycles related to selling to public sector customers and the volatility associated with single-product companies. With our current product diversification and sales and marketing strategy, we are addressing this volatility by adding potential new and more consistent revenue streams. To do this, we are building and implementing a commercialization strategy for FC2 as a disposable contraceptive device, which when prescribed by a physician is fully reimbursable as mandated by the Affordable Care Act. In addition, we expect to generate revenue from the planned launch of PREBOOST® for men.”
Quarter and Fiscal Year Highlights and Recent Activity
Fiscal Year Results: 2016 vs 2015
For fiscal 2016, net revenues were
Significant quarter-to-quarter variations in the Company’s results have historically resulted from the timing and shipment of large orders rather than from any fundamental changes in the business or the underlying demand for female condoms.
Fiscal Fourth Quarter Results: 2016 vs. 2015
For the fourth quarter of fiscal 2016, net revenues were
The Company will not be hosting an investor conference call related to its fiscal 2016 fourth quarter and full-year financial results. Shareholders and other interested parties with questions may contact Kevin Gilbert at 312-366-2633 or KGilbert@veruhealthcare.com.
More information about the
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995:
FINANCIAL SCHEDULES FOLLOW
Kevin Gilbert: 312-366-2633
Press Release Kari Sharp