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Hi-Tech Pharmacal

This article was originally published in The Tan Sheet

Executive Summary

Year-end sales rose to $56.4 mil., up 19% from the prior-year period, the company announces July 13. Net income for the fiscal year ended April 30 increased 15% to $6.6 mil., the Amityville, N.Y.-based company says. Although the Health Care Products division saw a 9% sales decrease, revenue for the DiabetiDerm line increased by 46%, which the firm attributes to strong sales of the line's foot cream containing L-Arginine. The company says it "intends to stay focused on branded products targeting the diabetes market and related areas, including podiatry and dermatology." Hi-Tech Pharmacal identified its increasing interest in products for diabetics last year (1"The Tan Sheet" Sept. 29, 2003, p. 10)...

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