Cornerstone Therapeutics Inc. (NASDAQ:CRTX) said Thursday its fourth-quarter profit fell 6 percent. …Cornerstone Therapeutics Inc. trades on the “NASDAQ under the Stock Symbol ”CRTX”. For the Latest information regarding “CRTX”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Cornerstone Therapeutics Inc. said Thursday its fourth-quarter profit fell 6 percent on higher sales costs and a tax provision. The pharmaceutical company has been boosting its sales force and management ranks, increasing spending on marketing by $1.8 million for the three months of the year, and $10.6 million over the year.
The company earned $2.7 million, or 10 cents per share, compared with profit of $2.9 million, or 26 cents per share, a year ago. The most recent period included about 15 million additional shares of common stock outstanding. Revenue rose to $30.8 million from $20.8 million. Operating costs rose 31 percent to $27.3 million and the company had a $3.5 million provision for taxes, compared with a slight benefit the prior year.
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