This article was originally published in The Rose Sheet
Delayed shipments caused net revenue to fall 18.2% to $110.2 mil. in first quarter of fiscal 2002 (ended June 30), firm says Aug. 14. Customers requested products be shipped in Q2 rather than Q1, Brentwood, N.Y. distributor explains. Reduction of credit facility by senior lender resulted in "insufficient funding to purchase the quantity of merchandise to meet demand," affecting pharmaceutical sales, company adds, although Allou expects to "shortly" close on an agreement with two financial groups for $200 mil. revolving credit facility. Net income fell 86.9% to $274,425 in Q1
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