03:48 PM EST - Velan Inc. : posted first-quarter net income of $14.3 million or $0.64 per share, compared to $7.3 million or $0.33 per share in the prior-year period. Sales for the period were $120.4 million, compared to $139.4 million in the previous-year period. In addition, the company declared an eligible quarterly dividend of $0.08 per share, payable on September 30, 2009 to shareholders of record as at September 15, 2009. Velan Inc.
shares T.VLN are trading up $1.30 at $12.40.
