Cold F-X producer Afexa Life Sciences (TSX: FXA) announces third quarter results, and fewer colds.
Afexa reports earnings of one penny a share.
"As we have stated previously, revenue from our lead product, COLD-FX is highly dependent on the frequency and severity of colds and flu experienced in Canada," commented Jack Moffatt, Afexa's Chairman and CEO. "The incidence of cold and flu will continue to fluctuate and contribute to quarter-to-quarter volatility in our revenue. This year retailers entered calendar 2010 well stocked with product, in anticipation of a normal cold and flu season. However, in calendar 2010 incidence of colds and flu were much lower than the prior year. In particular, the January to April 2010 period, post H1N1, was very light and continued to be light well into the fall 2010 cold and flu season."
http://www.tradingmarkets.com/news/stock-alert/afxsf_fxa_afexa-announces-2011-third-quarter-results-1485736.html
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