14 September 2001 16:40 [Source: ICIS news]
HOUSTON (CNI)--Canadian firm Polydex Pharmaceuticals said Friday its second quarter losses were somewhat less than its losses for the same period a year ago but that slower sales impeded a better performance.
The Toronto, Ontario-based company said its second quarter loss was $149 544 compared to $154 477 in the year ago period. Loss/share for both periods was 5 cent.
The company does business via subsidiaries Dextran Products in Canada and Chemdex Incorporated and Veterinary Laboratories in the US.
Sales for the quarter ended 31 July were off 7% to $2.9m, the company said.
Said Polydex in a statement: "Sales at Vet Labs are seasonally slow during the second quarter as large animals are put out to pasture where they gain necessary vitamins from natural grazing. When these animals move back indoors, the need for vitamins and supplements is greater."
Polydex Pharmaceuticals is engaged in the research, manufacturing and marketing of biotechnology-based products for veterinary and human pharmaceutical industries worldwide.
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