Polydex Pharma sales decline in Q2

Polydex reported sales of $986,349, against $1.23m in 2009.

Polydex Pharmaceuticals has reported sales of $986,349 for the second quarter ended 31 July 2010, compared to $1.23m for the comparable period in 2009.

Polydex Pharma said that the decrease in sales is primarily due to a reduction in orders received from a few larger customers that had experienced a slow-down in operations but remain solid customers with continued orders going forward over the next few quarters.

Sales for the six-month period ending 31 July 31 2010 actually increased slightly from $2,26m (for the period ending 31 July 2009) to $2,28m due to increased sales in Canadian dollars in that period.

Polydex Pharma posted a net loss of $345,208 for the second quarter 2010, compared to net loss of $503,902 for the comparable period in 2009.

Polydex Pharma is engaged in the manufacture, development and marketing of biotechnology-based products for the human pharmaceutical market and also manufactures bulk pharmaceutical intermediates for the worldwide veterinary pharmaceutical industry.