Bigmar Announces 2000 Results; Net Loss Per Share Narrows to $.50 for Year End 2000 From a Loss of $.73 for Year End 1999.Business Editors, Health/Medical Writers JOHNSTOWN, Ohio--(BW HealthWire)--April 3, 2001 Bigmar, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BGMR BGMR Bigmar Inc. (stock symbol) .OB) Bigmar today announced financial results for the year ended December 31, 2000. The company reported net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the year ended December 31, 2000 of $7,650,665, compared to $7,725,362 for the year ended December 31, 1999. Year 2000 revenues were adversely affected by the increase of the US Dollar exchange rate against the Swiss Franc Noun 1. Swiss franc - the basic unit of money in Switzerland franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and . Without taking the exchange rate increase into account, sales levels would have increased from approximately $7.73 million in 1999 to approximately $8.84 million in the year 2000, a 14.4% increase or approximately $1.11 million Gross margins increased from 16.4% in 1999 to 18.1% in the year 2000, while net losses per share narrowed to $.50 in the year ended December 31, 2000 compared to a $.73 per share loss in the year ended December 31, 1999. "The narrowing of losses and increased margins was due primarily to managements efforts to contain costs related to its Barbengo Facility. The company anticipates that gross margin levels should continue to improve as manufacturing levels increase," said John Tramontana, Bigmar's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We intend in 2001 to generate increased revenue growth by adding additional products, expanding market share, and increasing capacity," he said. Bigmar is a manufacturer of generic pharmaceutical oncology products and intravenous infusion solutions, which it manufactures at its state-of-the-art facilities in Switzerland. The company markets its products through partnerships of pharmaceutical distributors in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and focuses on off-patent oncological pharmaceuticals. For more information, please visit the company's Website, www.bgmr.com Statements in this press release that are not strictly historical may be "forward looking" statements, which involve risks and uncertainties. No assurance can be given that the Company will successfully develop or commercialize its products, complete clinical trials, obtain regulatory approvals (or that and such approvals will be obtained on a timely basis) or be able to manufacture or successfully commercialize such products. Actual results may differ from those described in this press release due to risks and uncertainties that exist in the Company's operations, including, without limitation, the ability to obtain additional financing to continue operations when needed, a history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and accumulated deficits, the Company's reliance on collaborative relationships, and uncertainties related to clinical trials, the ability to obtain the appropriate regulatory approvals and market acceptance, as well as other risks detailed from time to time in public available filings with the Securities and Exchange Commission such as the Company's Annual Report on Form 10-KSB and its most recent Registration Statement on Form S-3. Actual results may differ materially from those currently anticipated as a result of such risks, and results for interim periods are not necessarily indicative of results to be expected for the full year. The Company undertakes no obligation to release publicly the results of any revision to these forward-looking statements to reflect events or circumstances arising after the date hereof. These statements are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995 |
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