Hi-Tech Pharmacal Q1 Profit Slips - Quick Facts

(RTTNews) - Hi-Tech Pharmacal Co., Inc. (HITK) posted a decline in first-quarter GAAP income to $4.6 million or $0.33 per share, from $6.0 million or $0.44 per share a year before. Adjusted non-GAAP net income totaled $6.1 million or $0.44 per share in the latest quarter. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.44 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales of $50.5 million for the quarter, were 3% lower than the prior-year figure of $52.04 million. Analysts estimated revenues of $57.78 million for the quarter.