Taro Provides Results for Quarter Ended June 30, 2019
Taro Pharmaceutical Industries Ltd. Ordinary Shares (TARO)
Last taro pharmaceutical industries ltd. ordinary shares earnings: 2/3 05:21 pm
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Source: Business Wire
HAWTHORNE, N.Y.--(BUSINESS WIRE)--Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (“Taro” or the “Company”) today provided unaudited financial results for the quarter ended June 30, 2019.Quarter ended June 30, 2019 Highlights - compared to June 30, 2018Net sales of $161.3 million, increased $6.7 million, or 4.3%, despite a single digit decrease in volumes primarily due to category mix.Gross profit of $101.7 million increased $1.6 million, and as a percentage of net sales was 63.1% compared to 64.7%.Research and development expenses of $13.4 million remained in line with prior year.Selling, marketing, general and administrative expenses of $19.7 million decreased $3.9 million.Operating income of $68.6 million increased $5.4 million and as a percentage of net sales was 42.5% as compared to 40.8%.Interest and other financial income increased $1.8 million to $9.6 million.Foreign Exchange (FX) income of $7.9 million decreased $2.1 million the result of the strengthening of the Canadia
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