Hi Tech Pharmacal Co. Inc. (HITK) is up sharply today following news of last quarter's earnings and revenue. The company also closed out its full fiscal year. Sales of eye solution and nasal spray were strong enough to drive an 83% increase in Q4 revenue. Income was up 95%. The fiscal year end numbers were just as impressive for the manufacturer of generic pharmaceuticals.
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HTIK also reached new 52-week highs today.
About Hi Tech Pharmacal Co. Inc
Hi Tech Pharmacal Co. Inc. (HITK) is a specialty pharmaceutical company developing, manufacturing and marketing generic and branded prescription and OTC products. The Company specializes in difficult to manufacture liquid and semi-solid dosage forms and produces a range of sterile ophthalmic, otic and inhalation products. The Company's Health Care Products Division is a leading developer and marketer of branded prescription and OTC products for the diabetes marketplace. Hi-Tech's ECR Pharmaceuticals division markets branded prescription products.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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http://community.smallcapnetwork.com/Small-Cap-Stocks-HITK-NOVN-ININ-and-AANB-Post-Significant-Gains/s/article/view/p/mid/1/id/139/
