Bio-dyne Corp. announces second quarter 1995 results.ATLANTA--(BUSINESS WIRE)--Nov. 17, 1995--Bio-Dyne Corp., Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. , (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 :BODY) Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant announced its results of operations for its Second Quarter ended Sept. 30, 1995. -0-
BIO-DYNE CORP.
($000 omitted) Selected Financial Data
Three Months Ended Sept. 30,
1995 1994
Net Sales $3,977 $5,094 Earnings Before Interest, Taxes, Depreciation & Amortization $ (420) $ (100) Depreciation & Amortization Expenses 114 82 Loss From Operations (534) (182) Interest Expense, Net 29 43 Net Loss $ (563) $ (225) Net Loss Per Common Share $ (.06) $ (.03) Weighted Average Shares Outstanding 8,810,942 7,121,163
Six Months Ended Sept. 30,
1995 1994
Net Sales $ 7,811 $ 8,374 Earnings Before Interest, Taxes, Depreciation & Amortization $(1,016) $ (149) Depreciation & Amortization Expenses 182 117 Loss From Operations (1,198) (266) Interest Expense, Net 59 87 Net Loss $(1,257) $ (353) Net Loss Per Common Share $ (.15) $ (.05) Weighted Average Shares Outstanding 8,179,155 6,708,755 Results for the quarter and six months ended Sept. 30, 1995 include the company's two new subsidiaries, Home Fitness Studios Inc. (HFS (Hierarchical File System) The file system used in the Macintosh. The first version, known as "Mac OS Standard," was introduced in 1985. HFS+, an enhanced version, came out in 1998 in preparation for the upcoming Mac OS X operating system. ) and Carolina Carolina (kärōlē`nä), city (1990 pop. 177,806), Puerto Rico. Located 7 mi (11 km) SE of San Juan, it is a residential suburb of the capital, as well as a commercial and industrial center. Fitness Equipment Inc. (CFE CFE Conventional Forces in Europe (treaty) CFE Cash Flow to Equity (finance/accounting) CFE Comisión Federal de Electricidad (México) CFE Certified Fraud Examiner ) for the entire periods, while the prior year results include these subsidiaries for the entire quarter ended Sept. 30, 1994, but only from their dates of acquisition, April 18, 1994 for HFS and May 26, 1994 for CFE, for the six months ended Sept. 30, 1994. The first and second fiscal quarters are traditionally the company's weakest period. The company has previously noted that it expects this seasonality to become even more pronounced as fitness industry sales become more concentrated in the November-January period and as retailers continue to ever more tightly manage their inventories. The sales decrease during the quarter was due in part to a decrease in retail sales for the quarter of approximately $475,000, coming entirely from the company's mid-Atlantic operation. Retail sales in Florida increased during the quarter. The sales decrease at the company's manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. of approximately $650,000 was due to reduced sales to Champs CHAMPS Capitol Hill Association of Merchants and Professionals CHAMPS CHemometrics Applied to Metabonomics Proteomics and SAR CHAMPS Cleanliness-Hospitality-Accuracy-Maintenance-Product-Service CHAMPS Characteristics of Hardware Assemblies & Mission-build Planning System , the company's largest customer, as they reduced inventories and held off accepting Holiday 1995 shipments until October and November. Bio-Dyne has budgeted a significant reduction in sales to Champs for the current fiscal year, which it believes that it will partially offset with new business from other general sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport chains. In this regard, the company has now introduced six new products aimed at the general sporting goods market since the start of the fiscal year. July and August results had led the company to be cautiously optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op for the second quarter but a sharp decline in selling profit margins in September caused the quarter's loss to be higher than the company's prior expectations. While Bio-Dyne is optimistic for good results in the current quarter ending Dec. 31, 1995, based upon the second quarter's loss management does not presently anticipate that it will show a profit for the current fiscal year ending March 31, 1996. CONTACT: Bio-Dyne Corp., Atlanta Investor Relations Investor relations The process by which the corporation communicates with its investors. , 404/346-3100 |
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