On March 8, Omrix Biopharmaceuticals (NASDAQ:OMRI) released fourth-quarter earnings for the period ended Dec. 31.

  • The top line was up more than 100%, thanks to an increase in unit sales of Evicel and Quixil.
  • A stock offering helped raise cash and cash equivalents by $80.8 million. This led to a 44% increase in diluted share count.
  • The FDA accepted the company's Investigational New Drug application for Adhexil, an anti-adhesion product candidate, allowing the initiation of clinical trials.
  • For year 2007, product sales are expected to be in range of $50 million to $55 million. This is slightly lower than 2006 product sales of $57 million.

(Figures in thousands, except per-share data)

Income Statement Highlights

Q4 2006

Q4 2005

Change

Sales

$18,044

$8,328

116.7%

Net Profit

$6,390

$93

6771.0%

EPS

$0.41

$0.01

4000.0%

Diluted Shares

15,601.2

10,871.3

43.5%



Get back to basics with a look at the income statement.

Margin Checkup

Q4 2006

Q4 2005

Change*

Gross Margin

50.5%

30.6%

19.8

Operating Margin

30.6%

7.6%

23.0

Net Margin

35.4%

1.1%

34.3

*Expressed in percentage points.

Margins are the earnings engine.

Balance Sheet Highlights

Assets

Q4 2006

Q4 2005

Change

Cash + ST Invest.

$80,822

$6,494

1144.6%

Accounts Rec.

$9,748

$5,344

82.4%

Inventory

$17,419

$6,793

156.4%



Liabilities

Q4 2006

Q4 2005

Change

Accounts Payable*

$7,498

$5,995

25.1%

Long-Term Debt

$394

$6,026

(93.5%)

*Accounts payable includes accrued liabilities.

The balance sheet reflects the company's health.

Cash Flow Highlights

Cash flow data is not available.

Free cash flow is a Fool's best friend.

Related Foolishness:

Omrix Biopharmaceuticals is a Rule Breakers recommendation. A free 30-day trial to the newsletter will let you find out why.

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