BCAM International, reports improved bottom line for the year ended Dec. 31, 1995.MELVILLE, NY--(BUSINESS WIRE)--April 1, 1996--BCAM International, Inc. (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 : BCAM BCAM Broad Contemporary Art Museum BCAM Basic Communication Access Method BCAM B-Cell Adhesion Molecule BCAM Boston Company Asset Management, LLC BCAM Business Computer-Aided Manufacturing BCAM Bank Cost Analysis Model ), today reported results for the fourth quarter and year ended Dec. 31, 1995. Fourth quarter and full-year per share results improved from the comparable periods of the prior year, as costs and expenses were sharply reduced and BCAM's restructured operations are expected to have a positive impact in 1996. For the fourth quarter ended Dec. 31, 1995, BCAM's revenue was $212,000 compared to $74,000 a year earlier. The company reduced its fourth quarter loss to $446,000 or $(0.3) per share from the previous year's fourth quarter loss of $1,297,000 or $(.09) per share. For the full year, total revenue was $927,000 vs. $1,293,000 in 1994 and losses were $1,689,000 or $(.11) vs. $2,389,000 or $(.16) in the prior year. Total revenue for the year ended Dec. 31, 1995 declined approximately $366,000 from the prior year, and costs and expenses decreased in excess of $1 million. The decrease in revenue was primarily attributable to a non-core sale of computer systems in 1994. The favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. change in costs and expenses is due to a decrease in direct costs associated with the sale of the computer systems in 1994, the elimination of certain positions and other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . Additionally, in 1995, the company incurred in excess of $250,000 of one-time expenses, that are not expected to repeat in 1996. Commenting on the results, Michael Strauss, Chairman and Chief Executive Officer stated, "BCAM made great strides during the past year. Not only did we improve operating results, but we also set the stage for a stronger 1996. This was accomplished by the restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of senior management, upgrading of our technical staff, putting in place a highly qualified Board of Directors, strengthening and broadening our technology, and installing a strong marketing organization which is aggressively pursuing several key industries." Strauss noted that BCAM has further refined its business mission, emphasizing three areas -- Technology, Software, and Ergonomic ergonomic - Concerning ergonomics or exhibitting good ergonimics. Consulting Services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" , each of which have substantial growth potential, and which the company is aggressively pursuing. Among the key initiatives during 1995, the company established collaborative R&D relationships with the State University of New York (body) State University of New York - (SUNY) The public university system of New York State, USA, with campuses throughout the state. at Stony Brook Stony Brook may refer to: Massachusetts:
In 1995, the first commercialized product utilizing BCAM's patented Intelligent Surface Technology reached the marketplace with the introduction by Lumex Inc. of the first, "intelligent" medical recliner used primarily for kidney dialysis Dialysis, Kidney Definition Dialysis treatment replaces the function of the kidneys, which normally serve as the body's natural filtration system. purposes. This is expected to feed BCAM's royalty stream in 1996. Additionally, the emphasis during 1995 on BCAM's core Ergonomic Consulting business is expected to result in repeat projects and royalties in the future. Strauss added, "We expect revenues in 1996 to benefit from the flow of royalties derived from the introduction of BCAM's technology in several major industries," he pointed out that BCAM is at advanced stages of negotiations to license its technology to a number of major companies that produce beds, wheelchairs, recliners, hospital beds, airline seats, etc. The company recently signed a contract with Risk Enterprise Management Limited (REM (REMarks) A programming language statement used for documentation. Rem statements are not executed by the compiler. They are created for people to read. Rem is also used in DOS batch files for comments as well as for disabling instructions. ), a subsidiary of the Zurich Insurance Group, which will use BCAM's proprietary software and methodologies in its analysis and prevention of workplace compensation claims. "Virtually all of the objectives we set at the beginning of the year have been met," said Strauss. "With our Software, Technology and Ergonomic Consulting Services, BCAM is now establishing a significant reputation in the marketplace. We are confident that this will be further reflected in the performance of the company in the years to come." BCAM International, Inc. is one of the nation's leading companies providing proprietary biomechanics The study of the anatomical principles of movement. Biomechanical applications on the computer employ stick modeling to analyze the movement of athletes as well as racing horses. Biomechanics technology and software for the development of intelligent products, ergonomic product assessment and redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re , and safe workplace evaluation. -0-
Table of Financial Results
(Unaudited)
Three months ended December 31, Year ended December 31,
1995 1994 1995 1994
Total revenue $211,989 $73,870 $926,690 $1,292,940 Costs and expenses 657,509 1,370,646 2,616,170 3,681,893 Net (loss) $(445,520) $(1,296,776) $(1,689,480) $(2,388,953) Net (loss) per share $(0.03) $(0.09) $(0.11) $(0.16) Weighted average number of shares outstanding 14,857,233 14,742,657 14,818,055 14,681,530 CONTACT: BCAM International Inc. Michael Strauss, 516/752-3550 or Strategic Growth International Stanley Altschuler, Alan Goldsand 516/829-7111 |
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