Catalent ($CTLT) dialed up its revenue and income in a busy fiscal 2014, and now the drug developer is projecting up to 5% sales growth in the coming year, counting on global expansion to extend its reach.
In the fiscal year that ended June 30, Catalent posted $1.8 billion in revenue, a 2% jump over 2013. The company's medication delivery business leapt 12% to $246.1 million on the year, helping to compensate for a 1% slip in its banner oral technologies segment, which brought in $1.2 billion. Net income came in at $16.2 million in fiscal 2014, an improvement over the prior year's $49.6 million loss.
The New Jersey outfit finished the year with a strong fourth quarter, in which it posted $519.6 million in revenue, a 2% year-over-year gain. Oral technologies jumped 4% to $348.1 million in Q4, while medication delivery ticked up 1% to $68.9 million and clinical development dipped 1% to $105.4 million.
Catalent expects to keep the momentum running into fiscal 2015, its first full year as a publicly traded entity. The company is projecting annual revenue as high as $1.9 billion, good for nearly 5% growth, and adjusted net income of up to $225 million, which would be a 58% leap over 2014.
"We are pleased with our fourth quarter results," CEO John Chiminski said in a statement. "Our performance was highlighted by double-digit EBITDA growth within all three of our reporting segments. We continue to execute and to make strategic investments to position Catalent for organic growth and further market expansion, as evidenced by the launch of our Advasept technology and the upcoming expansion plans in Japan."
Catalent is a bit more than a month removed from pulling off a $871.3 million IPO, and the company's shares have risen nearly 10% since.
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