Share prices for the Female Health Company (OTCBB: FHCO) edged up a scant 4.94 percent this morning, rising to $2.55 a share, the highest the company’s stock has been in a month.The rise shadows yesterday’s news that the company will soon be listed on the American Stock Exchange under the symbol FHC. AMEX shares for FHC will start trading on Monday, July 9, 2007.
This is excellent news for Female Health. The company has built a brand around the production and manufacture of the female condom, which is distributed to numerous developing countries throughout the world, mainly through public health and welfare organizations like the World Health Organization (WHO) and the Joint United Nations Programme on HIV/AIDs (UNAID).
According to O.B. Parrish, the company’s CEO and chairman, the increasing need for prophylactics in suffering countries – and in more developed countries like the U.S. – adds up to a solid, stable increase in the company’s profits.
“We’ve begun to see increase in our revenues,” Parrish said. “We’ve experienced some substantial growth. In 06, we reported our first profitable year, and we’ve been profitable through this year. We’re strong for a small company.”
Parrish also said that the move to the AMEX from the OTCBB would be even better for the company.
“We surveyed the diverse possibilities and felt … it would represent a good opportunity for our market,” Parrish said. “As we go forward, we see there’s an unlimited opportunity to contribute to HIV/AIDS prevention, and we should see continued growth.”
