Anika Therapeutics Inc. (ANIK, Financial) filed Quarterly Report for the period ended 2009-09-30.
Anika Therapeutics Inc. develops manufactures and commercializes therapeutic products and devices that promote the repair protection and healing of bone cartilage and soft tissue. These products are based on hyaluronic acid a naturally-occurring biocompatible polymer found in the body. Due to its unique properties hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. Anika Therapeutics Inc. has a market cap of $84.2 million; its shares were traded at around $7.36 with a P/E ratio of 20.5 and P/S ratio of 2.4. Anika Therapeutics Inc. had an annual average earning growth of 54.7% over the past 5 years.
Our joint health products consist of ORTHOVISC, ORTHOVISC mini and MONOVISC, the latter two of which are currently only available outside the United States. Revenue from joint health products increased $1,459,854, or 31.2%, in the third quarter of 2009 from the third quarter of 2008. For the nine months ended September 30, 2009, joint health product sales increased $3,290,527, or 24.3%, compared with the same period in 2008. The improvement in joint health product revenue for the three and nine months ended September 30, 2009 was primarily due to increases in ORTHOVISC revenue. Our U.S. joint health product revenue in the third quarter of 2009 totaled $4,388,677, compared to $3,113,165 in the same period last year, an increase of 41%. Our U.S. joint health product revenue for the nine months ended September 30, 2009 totaled $12,148,161, compared to $9,593,935 in the same period last year, an increase of 26.6%. The increase reflects DePuy Mitek s underlying volume driven sales increases to end-users of 34.6% and 32.8% for the three and nine months ended September 30, 2009 compared to the same periods in 2008, as a result of their continued marketing efforts. International joint health product revenue in the third quarter of 2009 increased 11.8% to $1,747,424, from $1,563,082 in the third quarter last year. International joint health product revenue in the nine months ended September 30, 2009 increased 18.5% to $4,706,267, from $3,969,966 in the same period last year. The increase in international revenue during the three and nine months ended September 30, 2009 was led by increased product shipments to France, Hungary, Canada, and Turkey. We expect joint health product revenue to increase in 2009 compared to 2008, both domestically and internationally.
Our sales of ophthalmic products increased $2,802, or 0.1%, and decreased $451,912, or 5.5% for the three and nine months ended September 30, 2009, respectively, as compared with the same periods last year. The change in ophthalmic product sales for the three and nine month period was primarily related to order timing and inventory management by our partners.
Sales of our aesthetics products increased $240,038 and $362,162 for the three and nine months ended September 30, 2009 as compared to the same periods last year. The increase in revenue for both periods w
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Anika Therapeutics Inc. develops manufactures and commercializes therapeutic products and devices that promote the repair protection and healing of bone cartilage and soft tissue. These products are based on hyaluronic acid a naturally-occurring biocompatible polymer found in the body. Due to its unique properties hyaluronic acid plays an important role in numerous physiological functions such as the protection and lubrication of soft tissues and joints the maintenance of the structural integrity of tissues and the transport of molecules to and within cells. Anika Therapeutics Inc. has a market cap of $84.2 million; its shares were traded at around $7.36 with a P/E ratio of 20.5 and P/S ratio of 2.4. Anika Therapeutics Inc. had an annual average earning growth of 54.7% over the past 5 years.
Highlight of Business Operations:
Product revenue for the quarter ended September 30, 2009 was $10,087,130, an increase of 18.3%, compared to the third quarter of 2008. Product revenue for the nine months ended September 30, 2009 was $27,376,966, an increase of 10.5%, compared to the nine months ended September 30, 2008.Our joint health products consist of ORTHOVISC, ORTHOVISC mini and MONOVISC, the latter two of which are currently only available outside the United States. Revenue from joint health products increased $1,459,854, or 31.2%, in the third quarter of 2009 from the third quarter of 2008. For the nine months ended September 30, 2009, joint health product sales increased $3,290,527, or 24.3%, compared with the same period in 2008. The improvement in joint health product revenue for the three and nine months ended September 30, 2009 was primarily due to increases in ORTHOVISC revenue. Our U.S. joint health product revenue in the third quarter of 2009 totaled $4,388,677, compared to $3,113,165 in the same period last year, an increase of 41%. Our U.S. joint health product revenue for the nine months ended September 30, 2009 totaled $12,148,161, compared to $9,593,935 in the same period last year, an increase of 26.6%. The increase reflects DePuy Mitek s underlying volume driven sales increases to end-users of 34.6% and 32.8% for the three and nine months ended September 30, 2009 compared to the same periods in 2008, as a result of their continued marketing efforts. International joint health product revenue in the third quarter of 2009 increased 11.8% to $1,747,424, from $1,563,082 in the third quarter last year. International joint health product revenue in the nine months ended September 30, 2009 increased 18.5% to $4,706,267, from $3,969,966 in the same period last year. The increase in international revenue during the three and nine months ended September 30, 2009 was led by increased product shipments to France, Hungary, Canada, and Turkey. We expect joint health product revenue to increase in 2009 compared to 2008, both domestically and internationally.
Our sales of ophthalmic products increased $2,802, or 0.1%, and decreased $451,912, or 5.5% for the three and nine months ended September 30, 2009, respectively, as compared with the same periods last year. The change in ophthalmic product sales for the three and nine month period was primarily related to order timing and inventory management by our partners.
Sales of our aesthetics products increased $240,038 and $362,162 for the three and nine months ended September 30, 2009 as compared to the same periods last year. The increase in revenue for both periods w
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