Bio-Plexus reports 3rd quarter/9 months results.(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:BPLX), manufacturer of patented self-blunting collection needles which reduce the risk of accidental needlesticks and resultant This article is about the resultant of polynomials. For the result of adding two or more vectors, see Parallelogram rule. For the technique in organ building, see Resultant (organ). In mathematics, the resultant of two monic polynomials health dangers, today reported results for the third quarter and nine months ended Sept. 30, 1995. Third quarter net loss was $4,330,000 or 87 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on 4,998,196 average shares outstanding versus a net loss of $2,252,000 or 53 cents per share on 4,269,837 average shares outstanding for the same period last year. Revenues rose to $193,000 from $68,000 for the comparable 1994 quarter. Included in the third quarter loss is an extraordinary item of $979,000 resulting from the early extinguishment The destruction or cancellation of a right, a power, a contract, or an estate. Extinguishment is sometimes confused with merger, though there is a clear distinction between them. of debt, the majority of which is a non-cash charge Non-Cash Charge A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. . Loss for the nine months was $11,165,000 or $2.32 per share including the extraordinary item, on 4,817,644 average shares outstanding compared to a net loss of $6,253,000 or $1.81 per share on 3,274,922 average shares outstanding for the first nine months of last year. Revenues rose to $518,000 from $184,000 for the same period last year. "The loss was primarily due to the company's investment in research and development, improving and expanding manufacturing processes and increasing its sales and marketing activities," Ron A. Haverl, chairman and chief executive officer, said. Unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. were up more than 15 percent for the third quarter as compared to this year's second quarter, as the result of a special sales program which offered hospitals in new market areas the Punctur-Guard(R) needle at a lower introductory rate for a longer term commitment. "Bio-Plexus has seen its first workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. reduction in a hospital based on the reduction in needlesticks. The hospital has been informed by its insurance company that it will be receiving a reduced insurance rate as a result of this reduction in liability. We hope to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this precedent with more hospitals and other insurance companies," Haverl said. "To support the company's ambitious growth program, Bio-Plexus completed a secondary public offering of common stock on September 20 netting the company approximately $17,563,000. The success of this offering has permitted us to accelerate the development of our winged infusion set An infusion set is used with an insulin pump as part of intensive insulin therapy. The purpose of an infusion set is to deliver insulin under the skin. It is a complete tubing system to connect an insulin pump to the pump user: it includes a subcutaneous cannula, adhesive mount, , a small needle with the Punctur-Guard self-blunting mechanism and a pair of plastic wings which gives a healthcare worker the ability to control the needle for very precise vein insertion insertion n. the addition of language at a place within an existing typed or written document, which is always suspect unless initialled by all parties. . We are ahead of schedule and expect to market this product in late 1996, rather than the first quarter of 1997," Haverl concluded. -0- BIO-PLEXUS, INC. Financial Highlights (Unaudited)
For the Three Months Ended For the Nine Months Ended
9/30/95 9/30/94 9/30/95 9/30/94
Revenues $193,000 $68,000 $518,000 $184,000 Net (loss) before extraordinary item (3,351,000) (2,252,000) (10,186,000) (6,253,000) Extraordinary item(a) (979,000) (979,000) Net loss (4,330,000) (2,252,000) (11,165,000) (6,253,000) (Loss) per common share: Before extraordinary item ($.67) ($.53) ($2.12) ($1.81) Extraordinary item ($.20) -- ($.20) -- Net (loss) ($.87) ($.53) ($2.32) ($1.81) Weighted average shares outstanding 4,998,186 4,269,837 4,817,644 3,274,922 (a) Loss on early extinguishment of debt. -0- CONTACT: BIO-PLEXUS, Inc. Christina Tamburro, 203/871-8601 or Porter, LeVay & Rose, Inc. Marilynn Meek meek adj. meek·er, meek·est 1. Showing patience and humility; gentle. 2. Easily imposed on; submissive. , 212/564-4700 |
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