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IncrediMail Ltd. (Nasdaq: MAIL) $7.18. Today announced that: Revenues increased 24% year-over-year to a record $8.7 million in the first quarter of 2011. EBITDA was a record $3.7 million in the first quarter of 2011, or 43% of revenues, compared to $3.1 million in the first quarter of 2010; Net income in the first quarter of 2011 was $3.2 million, or $0.32 per diluted share, compared to $2.1 million, or $0.22 per diluted share, in the first quarter of 2010, and; Cash flow from operations in the first quarter of 2011 was $2.1 million, compared to $0.7 million in the first quarter of 2010.
In the first quarter of 2011 gross profits reached $8.3 million, or 96% of sales, an increase of 25%, compared to the first quarter of 2010.
What They Do: IncrediMail Ltd. is a digital media company that builds, acquires and enhances downloadable consumer applications.
PharmAthene (Amex: PIP) $3.68. Announced Wednesday after market close financial and operating results for the first quarter ended March 31, 2011. For the first quarter of 2011 PharmAthene recognized revenue of $6.3 million compared to $3.1 million in the same period of 2010. Revenues for the most recent quarter consisted of contract funding from the U.S. government for the development of the Company's SparVax and Valortim biodefense programs. Revenue for the period ended March 31, 2011 increased $3.2 million, as compared to the same period in 2010, as a result of increased revenue for the SparVax program, which totaled $5.4 million for the three months ended March 31, 2011 compared to $2.1 million for the same period in 2010.
For the first quarter of 2011 PharmAthene's net loss attributable to common shareholders was $2.1 million, or $0.04 per share, compared to $7.9 million, or $0.28 per share, in the same period of 2010. As of March 31, 2011, the Company had cash and cash equivalents, short-term investments, and net U.S. government accounts receivables and other receivables, including unbilled receivables, totaling approximately $18.7 million compared to $21.6 million at December 31, 2010.
What They Do: PharmAthene was formed to meet the critical needs of the United States and its allies by developing and commercializing medical countermeasures against biological and chemical weapons.
Cornerstone Therapeutics Inc. (Nasdaq: CRTX) $6.87. Today announced total net revenues of $30.0 million for the first quarter of 2011, compared to $36.4 million reported for the first quarter last year. Net product sales from strategic products were 70% of total net revenues, or $21.0 million, for the first quarter of 2011, an increase from the 48% of total net revenues, or $17.5 million, for the first quarter of 2010.
Net income was $1.7 million, or $0.07 per diluted share, for the first quarter of 2011, compared to net income of $5.0 million, or $0.19 per diluted share, for the first quarter of 2010. On a non-GAAP basis, net income was $4.5 million, or $0.17 per diluted share, for the first quarter of 2011, compared to non-GAAP net income of $7.4 million, or $0.29 per diluted share, for the first quarter of 2010. Non-GAAP net income and net income per diluted share exclude amortization of product rights and stock-based compensation.
What They Do: Cornerstone Therapeutics is a specialty pharmaceutical company focused on acquiring, developing and commercializing products for the respiratory and related markets.
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