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Sales & Earnings In Brief

This article was originally published in The Tan Sheet

Executive Summary

Afexa rides flu concerns to record Q1: The maker of Cold-FX reports record revenue of $27.7 million (Canadian $29.5 million at Feb. 11 exchange rates), a 49.7 percent increase, during the quarter ended Dec. 31. Net earnings were also up substantially - 142.9 percent to $6.4 million - in Afexa Life Sciences' fiscal 2010 first quarter. Jack Moffatt, CEO of the Edmonton, Alberta, company, attributed increased sales of Cold-FX to public flu concerns, though "we expect demand to moderate in the second quarter" as cold and flu incidences are below the three-year average. Afexa said Feb. 11 it hopes the Olympics bring added exposure to its products, as Cold-FX is the official cold and flu remedy of the Winter Games. Immunity-FX launched in late 2009 and is awaiting a Natural Product Number from Health Canada (1"The Tan Sheet" Nov. 30, 2009). Afexa plans to expand Immunity-FX into all retail channels in which Cold-FX currently sells
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