UMN Pharma Inc. Announces Consolidated Earnings Results for the Six Months Ended June 30, 2015; Revises Earnings Guidance for the Year Ending December 31, 2015
UMN Pharma Inc. announced consolidated earnings results for the six months ended June 30, 2015. For the period, the company's net sales were ¥45 million compared with ¥1,078 million a year ago. Operating loss was ¥2,157 million compared with ¥1,796 million a year ago. Ordinary loss was ¥2,186 million compared with ¥1,967 million a year ago. Net loss was ¥2,183 million or ¥228.17 per basic share compared with ¥1,677 million or ¥198.63 per basic share a year ago. Loss before income taxes and minority interests was ¥2,186.7 million compared with ¥1,720.5 million a year ago. Net cash used in operating activities was ¥1,700.3 million compared with net cash provided by operating activities of ¥2,280.6 million a year ago. This was mainly due to loss before income taxes of ¥2,186,674,000, depreciation of ¥762,709,000, increase in inventories of ¥820,738,000 and increase in notes and accounts payable-trade of ¥891,310,000. Purchase of property, plant and equipment was ¥14.7 million compared with ¥2.2 million a year ago. Purchase of intangible assets was ¥0.22 million compared with ¥3.1 million a year ago.
For the year ending December 31, 2015, the company forecasts net sales of ¥2,254 million, operating loss of ¥1,697 million, ordinary loss of ¥1,844 million, net loss of ¥1,852 million or ¥193.54 per share compared to previous guidance of net sales of ¥5,224 million, operating loss of ¥878 million, ordinary loss of ¥1,025 million, net loss of ¥1,033 million or ¥108.14 per share.