Animal Health Division... - sales of Animal Health products 10% ahead of Fiscal 2011 on a year-to-date basis -
...and, versus same quarter last year, the revenue for AH division is + 16.7%* qtr/qtr with continued solid margins.
That's two back-to-back quarters with strong revenue growth for AH division. Q3: +17% and Q2: +21%
Appears the new distribution agreements and new product launches in fiscal 2011 are beginning to pay-off for this division.
I have been critical of AH revenue results so only fair to recognize the solid growth achieved in the quarter (and, a continuation from last quarter).
On a different note... if selling expenses and R&D expenses are going up (and justified) much better to see than on the admin side. What levers Graeme McRae uses to achieves zero burn rate (that he has committed to) is up to him.
rg
* $8.4 - $7.2 = +$1.2mil. or +16.7%