Female Health Co shares slide on weaker outlook
Female Health Co expects lower operating income and sales in 3rd quarter, and shares skid
NEW YORK (AP) -- The Female Health Co., which makes female condoms, said Monday it expects lower shipments, revenue, and operating income in its latest fiscal quarter.
The Chicago company's shares slumped 70 cents, or 7 percent, to $9.25 in midday trading.
Female Health Co. said it expects to turn a profit in the fiscal third quarter, which ended June 30. However it said its income, revenue, and sales will decrease compared to a year ago, although it did not provide specifics. In the third quarter of fiscal 2012 the company reported $2.8 million in operating income and $8.7 million in revenue, and it sold about 15.3 million condoms.
"While quarterly sales can fluctuate significantly and have done so in the past, the long-term outlook remains positive," O.B. Parrish, chairman and chief executive, said in a statement. "We believe the market for FC2 will continue to expand due to the feminization of HIV/AIDS and its increased role in family planning."
Female Health Co. is scheduled to report its quarterly results the morning of Aug 1.