Autonomous Technologies Reports Third Quarter Results.ORLANDO Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. , Fla.--(BW HealthWire)--Nov. 4, 1997--Autonomous Technologies Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on NM: ATCI ATCI Albany Transcomm International ) today reported results for the 1997 third quarter ended September September: see month. 30, 1997. As the Company began commercial production in the 1997 third quarter, a portion of the costs of the production organization were capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. as inventory. In the prior year's third quarter, the production department costs were treated as period expenses and classified as research and development. This nominal decrease in comparative quarterly research and development expenses more than offset increases in other functional areas that reflect the Company's progress in its clinical and commercial programs. ATCI reported a net loss for the third quarter ended September 30, 1997 of $2,677,129, or $0.27 per share, based on 9,898,367 average shares outstanding in the quarter, versus a loss of $2,891,380, or $0.43 per share, based on 6,749,950 average shares outstanding, for the same quarter a year ago. For the nine months ended September 30, 1997, ATCI reported a net loss of $8,366,301, or $1.06 per share, based on 7,884,019 average shares outstanding, versus a loss of $6,169,297, or $1.19 per share based on 5,164,668 average shares outstanding for the same period a year ago. Autonomous Technologies Corporation (ATCI) is engag The statements in this press release which express belief, anticipation or expectations, such as anticipated PMA PMA (papillary-marginal-attached), n a system of epidemiologic scoring of periodontal disease devised by Schour and Massler in which the symbols denote the areas involved in gingival inflammation. PMA Progressive muscular atrophy application, as well as other statements which a-0-
from
Inception
(July 23, 1985)
Sept. Sept. Sept. Sept. to
30, 30, 30, 30, Sept. 30
1997 1996 1997 1996 1997
REVENUES FROM LADARVision
System $ 11,000 $ - $ 11,000 $ - $ 11,000
REVENUES FROM RESEARCH
GRANTS - - - - $ 3,450,517
research grants - - - - 3,465,596
Clinical trials 715,348 477,282 2,158,449 1,153,525 5,048,326
Research and
development 706,637 1,457,410 2,375,933 2,661,391 9,729,691
PENSE):
25,630,221
INCOME TAXES - - - - (4,772)
7) $ (0.43) $ (1.06) $ (1.1
9)
Weighted average common
and common equivalent
shares used in computing
net loss per share
9,898,367 6,749,950 7,884,019 5,164,668
-0-
CONTACT: Autonomous Technologies, Orlando Roslyn Palmiere Investor Relations Investor relations The process by which the corporation communicates with its investors. (407) 384-1600 or INVESTOR RELATIONS CONTACTS: Lippert/Heilshorn & Associates, Inc., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Keith Lippert/keith@lhai.com Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Voss/bruce@lhai.com Olga Fleming/olga@lhai.com (212) 838-3777 |
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