Boston, MA 09/11/2014 (wallstreetpr) – Alan Shortall, Chairman and the CEO of Unilife Corp (NASDAQ:UNIS) discussed the fourth quarter results on a conference call held on Wednesday. Shortall started the talks on the positive note as he said that the management is delighted with the trajectory of the business. Unilife is well positioned to deliver higher revenue growth in the coming years. The commercial sales will form an important part of the revenue in the coming time. Unilife has started the commercial shipments of its products to consumers.
The performance
Shortall said that fiscal year 2014 was a year of accelerated growth in terms of customers, revenues, production and supply agreements. Unilife Corp (NASDAQ:UNIS) signed various agreements with customers including Sanofi SA (ADR) (NYSE:SNY), MedImmune, Inc., Novartis AG (ADR) (NYSE:NVS) and others. The financial performance was impressive as full year revenue came at $14.7 million, up 400% compared to fiscal year 2013. The full year revenue was at the high end of the range of provided guidance. The deferred revenue came higher at $13.3 million. The cash receipts from customers amounted to $23.7 million. up $22.5 million from last year. There was a rise in R&D investment but still it cannot affect the net operating cash flow which improved by 20% as compared to fiscal 2013.
Reasons for growth
The strong fiscal year can be attributed to two reasons. First, Unilife signed new agreements and successfully executed existing agreements in the year. Second, the differentiated business model of Unilife is accepted by various biotech and pharmaceutical companies. These companies understand the significance of long-term commercial partnerships with Unilife. In last 18 months, Unilife has been successful in converting the commercial pipeline into long-term strategic relationships. Also, the focus in fiscal year was on R&D activities. Unilife Corp (NASDAQ:UNIS) invested around $16 million in facilities, capital expenditures and R&D. The investment was made in order to meet the increased commercial needs of customers.
