8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

__________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 4, 2006

THE FEMALE HEALTH COMPANY

(Exact name of registrant as specified in its charter)

Wisconsin

(State or other jurisdiction of incorporation)

1-13602	39-1144397
(Commission File Number)	(I.R.S. Employer I.D. Number)

515 North State Street Suite 2225 Chicago, Illinois	60610
(Address of Principal Executive Offices)	(Zip Code)

312-595-9123

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

  o    Written communications pursuant to Rule 425 under the Securities Act

(17 CFR230.425)

  o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act

(17 CFR 240.14a-12)

  o    Pre-commencement communications pursuant to Rule 14d-2(b) under the

Exchange Act (17 CFR 240.14d-2(b))

  o    Pre-commencement communications pursuant to Rule 13e-4(c) under the

                                Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information

Item 2.02 Results of Operations and Financial Condition

On December 4, 2006, The Female Health Company issued a press release (the "Press Release") announcing results for the quarter and fiscal year ended September 30, 2006. A copy of the Press Release is attached as Exhibit 99.1 to this report. The attached Exhibit 99.1 is furnished pursuant to Item 2.02 of Form 8-K.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such filing.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)        Exhibits

The following exhibit is furnished herewith:

Exhibit 99.1 - Press Release of The Female Health Company, issued December 4, 2006.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

THE FEMALE HEALTH COMPANY

Date:  December 4, 2006

BY/s/ Donna Felch                                           

       Donna Felch, Vice President and

        Chief Financial Officer

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EX-99.1

Exhibit 99.1

For Immediate Release

Contacts:  William R. Gargiulo, Jr.    231.526.1244

                    Donna Felch                     312.595.9742

The Female Health Company Reports

Profit for both Fourth Quarter and Fiscal Year 2006

CHICAGO, Illinois (December 4, 2006) - The Female Health Company (OTC BB: FHCO) today reported financial results for the fourth quarter and full-year of fiscal 2006.

HIGHLIGHTS:

l   4^th Qtr. Revenue:  $4.4 million up 47% over 4^th Qtr. of FY2005

l   FY2006 revenue:  $14.8 million up 33% year over year

l   4^th Qtr. net income:  $52,105 up $189,001 from 4^th Qtr. FY2005 loss of ($136,896)

l   FY2006 net income:  $120,778 up $1,637,641 from FY2005 loss of ($1,516,863)

  l   Cash:  $2,065,134 up $290,068 or 16% from FY2005

Quarterly Results: For the fourth fiscal quarter ended September 30, 2006, the Company reported revenue of $4,422,103, as compared with $3,001,321 for the comparable period last year, an increase of $1,420,782 or 47%. The revenue growth resulted from increased demand from the global public sector. Net income attributable to common shareholders was $52,105 or $.00 per diluted share versus a net loss of $(136,896), or $(.01) per diluted share for the three months ended September 30, 2005.

Full Year Results: For the year ended September 30, 2006, the Company reported total revenues of $14,824,242 compared with revenues of $11,161,555 for the prior year, an increase of $3,662,687 or 33%. During fiscal year 2006, the Company sold 19.6 million units, up 41% from fiscal year 2005. Net income attributable to common shareholders for the year ended September 30, 2006 was $120,778 ($.01 per diluted share), an $1,637,641 improvement over the fiscal year 2005 loss of $(1,516,863), or ($(.07) per diluted share).

The Company expects significant quarter to quarter variations due to the timing of large orders and shipment.

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About the Female Health Company.

The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC Female Condom®, which is primarily distributed by public health organizations and donor groups in over 90 developing countries around the world. World-wide, the Female Condom is available in various programs in 108 countries. The Company owns certain worldwide rights to the FC Female Condom®, including patents that have been issued in the United States, United Kingdom, Japan, France, Italy, Germany, Spain, the European Patent Convention, the People's Republic of China, Canada, South Korea and Australia. FC Female Condom® is the only available FDA-approved product controlled by a woman that offers dual protection against sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy.

“Safe Harbor” statement under the Private Securities Litigation Reform Action of 1995: The statements in this release which are not historical fact are forward-looking statements based upon the Company’s current plan and strategies, and reflect the Company’s current assessment of the risks and uncertainties related to its business, including such things as product demand and market acceptance; the economic and business environment and the impact of government pressures; currency risks; capacity; efficiency and supply constraints; and other risks detailed in the Company’s press releases, shareholder communication and Securities and Exchange Commission filings. Actual events affecting the Company and the impact of such events on the Company’s operations may vary from those currently anticipated.

For more information about the Female Health Company visit the Company's website at www.femalehealth.com and www.femalecondom.org. If you would like to be added to the Company's e-mail alert list, please send an e-mail to FHCInvestor@femalehealthcompany.com.

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THE FEMALE HEALTH COMPANY

Unaudited Condensed Consolidated Balance Sheet

	September 30,		September 30,
	2006		2005
Cash	$	1,827,393	$	1,775,066
Restricted cash		237,741		-
Accounts receivable, net		3,160,801		2,040,476
Inventory		1,011,672		883,709
Prepaid and other current assets		582,457		344,383
Total current assets		6,820,064		5,043,634
Other non-current assets		187,940		277,368
Net property, plant & equipment		437,766		358,149
TOTAL ASSETS	$	7,445,770	$	5,679,151
Accounts payable	$	599,022	$	559,414
Accrued expenses		970,439		664,709
Preferred dividends payable		11,210		11,201
Total current liabilities		1,580,671		1,235,324
Deferred gain on sale of facility		1,092,775		1,134,003
Total liabilities		2,673,446		2,369,327
Total stockholders' equity		4,772,324		3,309,824
TOTAL LIABILITIES AND EQUITY	$	7,445,770	$	5,679,151

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THE FEMALE HEALTH COMPANY

Unaudited Condensed Consolidated Income Statements

	For the 3 Months Ended						For the 12 Months Ended
	September 30,						September 30,
	2006			2005			2006			2005
NET REVENUES	$	4,422,103		$	3,001,321		$	14,824,242		$	11,161,555
GROSS PROFIT		1,513,908			1,235,411			5,489,409			4,043,833
Advertising and promotion		60,237			77,418			218,500			123,103
Selling, general & administrative		1,276,759			1,185,800			4,819,678			4,958,208
Research and development		95,360			72,598			210,876			273,776
Total Operating Expenses		1,432,356			1,335,816			5,249,054			5,355,087
OPERATING INCOME (LOSS)		81,552			(100,405	)		240,355			(1,311,254	)
Interest, net and other expense		(11,196	)		(4,153	)		(41,671	)		44,402
Pretax income (loss)		92,748			(96,252	)		282,026			(1,355,656	)
Income taxes		-			-			-			-
NET INCOME (LOSS)		92,748			(96,252	)		282,026			(1,355,656	)
Preferred dividends		40,643			40,644			161,248			161,207
NET INCOME (LOSS) ATTRIBUTABLE TO
COMMON STOCKHOLDERS	$	52,105		$	(136,896	)	$	120,778		$	(1,516,863	)
BASIC AND DILUTED NET INCOME
(LOSS) PER COMMON SHARE	$	0.00		$	(0.01	)	$	0.01		$	(0.07	)
Weighted avg. common shares -
Basic and Diluted		24,285,630			23,468,080			23,948,729			23,094,868

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