Aug 16 2011
Akela Pharma, Inc. ("Akela"), (TSX: AKL) and PharmaForm, a leading specialty contract service provider in the area of pharmaceutical dosage form development and manufacturing, today announced its financial results for the three and six months and year ended June 30, 2011.
Total consolidated revenues for the three months ended June 30, 2011 were $3.1 million, including $2.4 million of contract services, as compared to $3.1 million, including $2.4 million of contract services, for the same period during the previous year. Total consolidated revenues for the six months ended June 30, 2011 were $7.3 million as compared to $5.7 million for the same period in 2010.
Consolidated net income (loss) for the three months ended June 30, 2011 was ($0.52) million, or ($0.02) per share, versus $0.15 million or $0.01 per share, for the same period in 2010. Consolidated net income for the six months ended June 30, 2011 was $0.48 million vs. $0.17 million, for the same period in 2010.
The Company had a cash balance of $0.21 as of June 30, as compared with $0.14 million as of March 31, 2011.