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Adams Respiratory Therapeutics, Inc. (1319439) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2006

Adams Respiratory Therapeutics, Inc.

CIK: 1319439
 

EXHIBIT 99.1

(ADAMS RESPIRATORY THERAPEUTICS LOGO)
ADAMS RESPIRATORY THERAPEUTICS REPORTS
FISCAL 2006 THIRD QUARTER FINANCIAL RESULTS
     Excellent financial performance driven by strong market penetration of the Mucinex® franchise
Third Quarter Financial Highlights:
    Net sales increased 29% to $76.0 million.
 
    Pretax income increased 13% to $27.6 million.
 
    Income per diluted share increased to $0.46, including a one-time pretax charge of $1.5 million or $0.03 per diluted share recorded in connection with moving the corporate headquarters.
Other Highlights:
    Mucinex® franchise gained nearly 4 market share points during the 2005-2006 cough/cold season and became the No. 2 product in the cough/cold/allergy/sinus category, according to Information Resources Inc. (IRI) weekly consumption data thru Mar. 19, 2006, and monthly brand data for the 12-weeks ended Mar. 19, 2006.
 
    Launched a new advertising campaign for Mucinex® D on Feb. 23, targeting sufferers of congested allergies. Initial consumer response to Mucinex® D is encouraging.
 
    Commenced Phase IIb clinical program for erdosteine in late March.
 
    Made solid progress in manufacturing and increased production.
 
    Relocated Adams’ corporate headquarters in April 2006 to a larger facility in Chester, N.J.
 
    Initiated plans for a sales force expansion to be completed in July 2007.
CHESTER, N.J. (May 11, 2006) – Adams Respiratory Therapeutics, Inc. (NASDAQ: ARxT) today announced financial results for the fiscal third quarter ended Mar. 31, 2006.
Commenting on the results for the quarter, Michael J. Valentino, president & CEO said, “This has been a quarter of excellent financial performance driven by strong market penetration of the Mucinex® franchise. Successful execution in the marketplace was also a key contributor. We made solid progress in manufacturing and increased production at a newly qualified Cardinal facility in Winchester, KY. This allowed us to produce and ship product in excess of our previously stated topline guidance of between $72 and $75 million for the fiscal 2006 third quarter. We also successfully started to penetrate the allergy category with Mucinex® D during the quarter, despite new regulatory constraints that restrict access and limit secondary product placement at retail. As expected during the quarter, we also initiated a Phase IIb clinical program for erdosteine, a unique mucoregulator compound.”

 


The following information was filed by Adams Respiratory Therapeutics, Inc. on Thursday, May 11, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1319439
Form Type: 10-Q Quarterly Report
Accession Number: 0000950144-06-004884
Submitted to the SEC: Thu May 11 2006 4:14:41 PM EST
Accepted by the SEC: Thu May 11 2006
Period: Friday, March 31, 2006
Industry: Pharmaceutical Preparations

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