Bio-Plexus Releases 3rd Quarter Results.VERNON, Conn.--(BW HealthWire)--Oct. 27, 1999-- Bio-Plexus 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 :BPLX) today released financial results for the third quarter, and for the nine months ended September 30, 1999. Total revenues for the quarter were $1,291,000 and $5,038,000 for the nine-month period compared with $2,988,000 and $6,869,000 for the same periods a year ago. Net losses were $1,046,000 or $0.08 per share for the quarter and $2,082,000 or $0.15 per share for the nine month period compared with $62,000 or $0.01 profit and $1,287,000 loss or $0.11 loss per share for the same periods a year ago. "Total revenue is down from last year due to reduced product In model theory, a branch of mathematical logic, the reduced product is a construction that generalizes both direct product and ultraproduct. and service revenue related to the wind-down of the Johnson & Johnson catheter catheter /cath·e·ter/ (kath´e-ter) 1. a tubular, flexible surgical instrument that is inserted into a cavity of the body to withdraw or introduce fluid. 2. urethral c. project. The results do, however, reflect solid product sales growth as disposable disposable Nursing adjective Referring to that which is discarded or disposed of noun An item used in health care-related Pt contact which is discarded after use–eg masks, gloves, gowns, needles, paper products, syringes, wipes. See Biohazardous waste. medical product sales for the quarter were up 18% over the same period last year," according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tom Sutton Sutton, outer borough (1991 pop. 164,300) of Greater London, SE England. It is mainly residential, but plastics, chemicals, radio components, and paper goods are produced. The areas of Sutton were mentioned in the Domesday Book. , Executive Vice President. "End-user customer sales, another key indicator of growth, have increased by almost 25% for the quarter over the same period last year, and 25% over the second quarter of this year. These trends clearly show the growing safety market and Punctur-Guard's success in gaining new hospital and reference lab accounts," he concluded. "Changes in the safety medical market, our expertise in developing and manufacturing safety products, and the recently announced $17.5 million financing signify sig·ni·fy v. sig·ni·fied, sig·ni·fy·ing, sig·ni·fies v.tr. 1. To denote; mean. 2. To make known, as with a sign or word: signify one's intent. the company is poised to deliver safety to healthcare workers and patients, and value to shareholders," according to Carl Sahi, president 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. . "With a portion of the financing already available, we are expanding our marketing and sales programs and we expect to offer a fuller product line with the introduction new products including the Punctur-Guard Winged Set for Blood Collection," Sahi concluded. Bio-Plexus, Inc. (NASDAQ: BPLX), designs, develops, manufactures, markets, and holds U.S. and international patents on safety medical needles and other products under the PUNCTUR-GUARD(R), DROP-IT(R) and PUNCTUR-GUARD REVOLUTION(tm) brand names. In a Centers for Disease Control study, Punctur-Guard Blood Collection Needles were found to reduce the rate of accidental accidental /ac·ci·den·tal/ (ak?si-den´t'l) 1. occurring by chance, unexpectedly, or unintentionally. 2. nonessential; not innate or intrinsic. needlesticks among healthcare workers by 76%, the highest rate of any device studied. Accidental needlesticks number about one million per year in 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 can result in the transmission of deadly diseases including HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. and Hepatitis B Hepatitis B Definition Hepatitis B is a potentially serious form of liver inflammation due to infection by the hepatitis B virus (HBV). It occurs in both rapidly developing (acute) and long-lasting (chronic) forms, and is one of the most common chronic and C. NOTE: THIS PRESS RELEASE MAY CONTAIN FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. WHICH ARE SUBJECT TO RISKS AND UNCERTAINTIES. THE ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED IN ANY SUCH FORWARD-LOOKING STATEMENT AS A RESULT OF FACTORS DESCRIBED FROM TIME TO TIME IN THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION OR DISCUSSED IN OTHER PRESS RELEASES ISSUED BY THE COMPANY. -0-
BIO-PLEXUS, INC
CONDENSED FINANCIAL HIGHLIGHTS
Nine Months Ended
September 30,
1999 1998
Revenue
Product $ 3,713,000 $ 3,896,000
Services 1,325,000 2,973,000
Total revenue 5,038,000 6,869,000
Costs and expenses:
Operating costs and expenses $ 6,547,000 $ 7,702,000
Financing expenses 573,000 454,000
Total costs and expenses 7,120,000 8,156,000
Net profit (loss) $ (2,082,000) $ (1,287,000)
Per share of common stock:
Basic and diluted $ (0.15) $ (0.11)
Weighted average common shares
outstanding
(basic and diluted) 13,454,797 12,160,987
BIO-PLEXUS, INC
CONDENSED FINANCIAL HIGHLIGHTS
Three Months Ended
September 30,
1999 1998
---------------------------------------------------------------
Revenue
Product $ 1,143,000 $ 1,746,000
Services 148,000 1,242,000
Total revenue 1,291,000 2,988,000
Costs and expenses:
Operating costs and expenses $ 2,125,000 $ 2,776,000
Financing expenses 212,000 150,000
Total costs and expenses 2,337,000 2,926,000
Net profit (loss) $ (1,046,000) $ 62,000
Per share of common stock:
Basic and diluted $ (0.08) $ 0.01
Weighted average common shares
outstanding
Basic 13,566,680 12,181,826
Diluted -- 12,195,740
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