Recordati posts sales growth and significant margin improvement in 1st-qtr 2014
Italian drugmaker Recordati (RC.MI) posted first-quarter 2014 financials, showing the consolidated revenues grew 6.5% year-on-year to 260.4 million euros ($361 million), with international sales up 7%.
Earnings before interest, taxes, depreciation and amortization (EBITDA), at 27.4% of sales, came in at 71.4 million euros, an increase of 18.1%, with operating income rising 18.1% to 62.2 million euros. Net income rose 13.2% to 42.8 million euros and equal to 16.4% of sales, the company noted.
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