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MorphoSys AG Reports Financial Results for Fiscal Year 2007 -- Significant Increase of Revenues, Operating Profit and Net Income
MARTINSRIED, Germany, Feb. 28, 2008 (PRIME NEWSWIRE) -- MorphoSys AG (FSE:MOR) (Prime Standard Segment:TecDAX) today announced its financial results according to International Financial Reporting Standards (IFRS) for the three-months' period and fiscal year ending December 31, 2007. The Company achieved Group revenues of EUR 62.0 million (2006: EUR 53.0 million) and an operating profit of EUR 7.0 million (2006: EUR 6.2 million), which included advisory fees relating to the Novartis deal of approx. EUR 4.5 million. Net profit nearly doubled to EUR 11.5 million (2006: EUR 6.0 million), including a tax benefit of EUR 2.3 million. At the end of the year 2007 MorphoSys's cash position amounted to EUR 106.9 million (2006: EUR 66 million).