Female Health Co reports lower profits in Q1

ERJ staff report (DS)

Chicago, Illinois -- Sales and profits at the Female Health Company fell in the three months to 31 December 2010. During the three months ended December 31, 2010, the Company's net revenues decreased 33 percent to approximately $3.7 million, compared with approximately $5.5 million in the first quarter of the previous fiscal year. The company said the results were in line with previously-issued guidance, following delays in receiving two large orders for female condoms.

One of these orders is expected from Brazil's Ministry of Health, which issued a request in November 2010 for bids on up to 10 million units of nitrile female condoms.

"While such delays occur, we remain highly confident that the underlying demand for FC2 Female Condoms will continue to increase, due to the increase in new HIV/AIDS cases worldwide, the feminization of HIV/AIDS and the related role of FC2 in protecting women," observed O.B. Parrish, Chief Executive Officer of The Female Health Company. Women now account for more than 50% of all new HIV/AIDS cases. HIV/AIDS is now the leading cause of death worldwide among women 15-44 years of age. "Based upon currently available information, we believe we will receive the two large orders that have been delayed during the current fiscal year."

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Press release from Female Health Co.