Hi-Tech Phar Q3 misses views

Investor's Business Daily

The pharmaceutical said Q3 EPS fell 6% to 79 cents, missing views by 4 cents. Revenue grew 12% to $55.6 mil. Sales of Hi-Tech Pharmacal's (NASDAQ:HITK - News) Fluticasone Propionate nasal spray, its top-selling product, rose 21.8% to $21.8 mil. Research and product development costs jumped 13% to $3 mil due to clinical trials for 3 generic products. Shares dropped 4% to 39.63.

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