Canadian firm Draxis Health of Mississauga, Ontario, expects to post estimated diluted net earnings of 4¢ U.S. per share for the second quarter of 2007 (end-June 30).
The company believes three factors affected its results for the second quarter: the strengthening of the Canadian dollar as compared to the U.S. dollar; production delays at Draxis Pharma, Draxis Health's contract manufacturing division; and lower than expected volumes of radioactive iodine I-131 products produced by DraxImage, Draxis Health's radiopharmaceutical division, due to a lack of availability of I-131 raw material.
Draxis plans to report results for the second quarter on August 9, and will also update its annual guidance for the remainder of 2007 at that time.
By AuntMinnie.com staff writers
July 20, 2007
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