Inyx revenues up eight-fold at $21.4 million

By Lisa Kerner

Erie, Pa., May 17 - Inyx, Inc.'s first-quarter revenues reached $21.4 million, roughly an eight-fold increase over the $2.7 million reported for the comparable quarter in 2005.

The company reported a net loss of $2.6 million, or $0.06 per share, a decrease from the previous year's quarterly net loss of $7.0 million, or $0.18 a share.

"The gross profit for the first quarter was $8.3 million, equal to a gross margin of 39%," chairman and chief executive officer Jack Kachkar said in a news release.

Kachkar attributed the improvement in gross profitability to development milestones, increased production and the start of the company's new marketing arm, Exaeris.

Inyx said it expects 2006 revenues to reach $150 million and 2007 revenues to exceed $250 million.

Inyx is a New York City-based specialty pharmaceutical company.

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