Dusa Pharma (Dusa)

[surf1944]

DUSA Pharmaceuticals Reports Third Quarter 2007 Financial Results and Corporate Highlights
Friday November 9, 6:30 am ET

Revenues Total $5.8 Million; Bottom Line Improves 50%; Initial Latin American Orders Shipped; Nicomide(R) Lawsuit Settled; Company Enhances Cash Position

WILMINGTON, MASSACHUSETTS--(MARKET WIRE)--Nov 9, 2007 -- DUSA Pharmaceuticals, Inc.® (NASDAQ GM: DUSA), a dermatology company that is developing and marketing Levulan® photodynamic therapy (PDT) and other products targeting patients with common skin conditions, reported today its corporate highlights and financial results for the third quarter ended September 30, 2007.

Total product revenues for the quarter were $5.8 million as compared to $6.1 million for the comparable 2006 period. PDT revenues totaled $3.5 million versus $3.2 million for the comparable 2006 period. The increase in PDT revenues was driven primarily by a 17% increase in U.S. Levulan® Kerastick® revenue. Non-PDT revenues totaled $2.3 million versus $2.8 million for the comparable 2006 period. Non-PDT revenues were primarily driven by the sales of Nicomide® which were adversely impacted by the presence of the River's Edge product, which re-entered the market as a result of the March 7, 2007 dissolution of a preliminary injunction.

Total product revenues for the nine-month period ended September 30, 2007 were $19.3 million as compared to $17.4 million for the comparable 2006 period. PDT revenues totaled $12.1 million versus $10.9 million in the comparable 2006 period. Non-PDT revenues totaled $7.2 million versus $6.5 million in the comparable 2006 period. Non-PDT revenues for 2006 represent the period following our merger with Sirius Laboratories, Inc.®, which occurred on March 10, 2006.

For the three-month and nine-month periods ended September 30, 2007, DUSA's net loss on a GAAP basis was ($1.9) million, or ($0.10) per common share, and ($7.7) million, or ($0.40) per common share, respectively. GAAP net losses for the comparable 2006 periods were ($3.8) million, or ($0.19) per common share, and ($13.1) million, or ($0.77) per common share. On a non-GAAP basis, the Company's net losses for the three-month and nine-month periods ended September 30, 2007 were ($1.4) million, or ($0.07) per common share, and ($6.6) million, or ($0.34) per common share, respectively. Non-GAAP net losses for the comparable 2006 periods were ($2.9) million, or ($0.15) per common share, and ($9.1) million, or ($0.53) per common share. Both the 2007 quarterly GAAP and non-GAAP net losses represent a 50% decrease from the prior year. Investors are encouraged to refer to the "Use of Non-GAAP Financial Measures" section and the accompanying financial table for a reconciliation of GAAP to non-GAAP information.

Third Quarter Highlights:

http://biz.yahoo.com/iw/071109/0326679.html