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Message: NEWS - Auriga Labs Inc posts unaudited results for year-end 2006

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NEWS - Auriga Labs Inc posts unaudited results for year-end 2006

posted on Feb 06, 07 10:49AM
Feb 06, 2007 -- Auriga Laboratories Inc (OTCBB:ARGA), a speciality pharmaceutical company, declared on 5 February its unaudited results for year ending 31 December 2006.

The company reported unaudited gross revenues of USD7.4m for the 12 months ended 31 December 2006, a growth of 96% from approximately USD3.8m in the period 12 April 2005 (Inception) to 31 December 2005. Unaudited gross profit totalled USD4.1m in 2006, up 105% from USD2.0m reported from Inception to 31 December 2005.

The company forecasts gross revenues of USD6.2m and expects to be cash flow positive, with gross profit at approximately 60% of revenues for the first quarter ending 31 March 2007. It also expects to maintain its previously issued gross revenue guidance for 2007 at approximately USD26m.

The company's independent monthly IMS data shows total dispensed prescriptions for its Extendryl family of products increased 146% in December 2006, against December 2005. Thesales force expanded from nine to 100 sales associates and is targeting 175 associates by the end of the first quarter 2007.

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