Record Revenues And Income At Ivax In 1995
- IVAX Corporation's chairman and chief executive Phillip Frost said that the firm's results in 1995 were the highest annual revenues and income ever reported by IVAX. Revenues in 1995 were $1.3 billion, up 11.5%. Net income for the year was $114.8 million, a rise of 29%, and earnings per share rose 25% to 95 cents.
In the 1995 fourth quarter, revenues grew 22.2% to $361.8 million. Net income was $35.8 million, ahead 188.7%, and EPS were 30 cents, compared with 11 cents in the year-earlier quarter. Results for the 1995 fourth quarter include a $12.8 million pretax gain on the sale of investment securities, substantially offset by non-recurring pretax charges of $10.5 million.
R&D expenses in 1995 were $64.6 million, up 32.6%. For the quarter, expenditure was $17.1 million, rising 15.5%.
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