Bentley sees flat earnings
Bentley Pharmaceuticals announced second-quarter earnings similar to those it turned in for the second quarter last year.
The Exeter-based company said it earned $2.6 million, or 12 cents a diluted share, for the quarter — about the same as the second quarter last year. But if comparable accounting systems were used for both years, the company’s profit increased by more than $700,000.
The generic drug supplier – which sells most of its products in Europe, primarily Spain – also increased it sales to nearly $29 million, about $4 million more than last quarter. The would bring the company’s total sales to $57 million for the first half of the year, with net income of almost $3.8 million.
In order to expand its sales force in Europe, Bentley invested some $7 million in capital additions during the first half of the year there, the company reported. – BOB SANDERS