Shares of Female Health (VERU 0.61%) are healthy following the release of the company's Q4 and fiscal 2013 results today.
For the quarter, revenue was nearly $4.8 million, significantly below the $9.9 million in the same period the previous year. Net income came in just under $6.6 million ($0.23 per diluted share), which was lower than Q4 2012's $8.2 million ($0.29).
In spite of the decline, that most recent EPS figure trounced the average analyst estimate of $0.14.
For the full year, top line was $31.5 million, against 2012's $35.0 million. Net profit for those two periods was $14.3 million ($0.50 per diluted share) and $15.3 million ($0.53), respectively.
The year-over-year drops were due to a fall in sales of Female Health's signature product, the FC2 female condom. Following a record year in 2012 that saw the firm sell 61.6 million units, the company booked sales of only 54.8 million in 2013, an 11% drop. In the press release detailing the results, however, CEO O.B. Parrish said that this "was due to public sector purchasing patterns and does not reflect any decrease in underlying demand for the product." The company believes that that demand remains strong.
In the wake of the results announcement, this afternoon the company's stock was trading 1.5%, or $0.14, higher on the day at $8.94 per share.
