Bovie Medical Corporation Reports Financial Results for Fiscal Year 2005.MELVILLE, N.Y. -- Bovie Medical Corporation (the "Company") (Amex: BVX BVX Bulk Viscosity of Xenon ), a manufacturer and marketer of electrosurgical products, today announced its financial results for the fourth quarter and twelve months ended December December: see month. 31, 2005. Revenues for the fiscal year 2005 totaled $20.2 million resulting in net income of $406,208 or $.03 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share. In 2004, the Company reported revenues of $20.5 million and net income of $1,511,993 or $.09 per diluted share. FY 2005 revenues and earnings were affected by a reduction in OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and orders and increased costs relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc new product development. The results are in line with our outlook reported in FY 2004 10-KSB filing. Revenues for the fourth quarter reached a record $5.4 million versus $4.9 million recorded for the fourth quarter of 2004. Net earnings for the fourth quarter were $263,903 or $.02 per diluted share compared to $344,802 or $.02 per share for the comparable period last year, which included a one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. income item of $245,264 from a hurricane related insurance settlement. Andrew Makrides, 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. of Bovie Medical, said "We are pleased with our fourth quarter performance and this momentum has accelerated into the first quarter of 2006, which we anticipate being the highest revenue quarter in Company history. Fiscal 2006 should be marked by significant progress due to our anticipated new product introductions, either by Bovie alone and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. in collaboration Working together on a project. See collaborative software. with other larger medical companies." This document may contain some forward looking statements, particularly regarding operational prospects in 2006 and beyond, which involve a number of risks and uncertainties that could cause actual results to differ materially. These risks are listed from time to time in the Company's SEC filings.
BOVIE MEDICAL CORPORATION
CONDENSED STATEMENTS OF OPERATIONS
FOR THE THREE AND TWELVE-MONTH PERIODS
Twelve Months Ending December 31
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2005 2004
Total Revenues $20,211,000 $20,495,101
Cost of Sales $12,649,209 $12,638,161
Gross Profit $ 7,561,932 $ 7,856,940
Other Income $ --- $ 245,264
Total Net Earnings $ 406,208 $ 1,511,993
Earnings Per Share
Diluted $ .03 $ .09
Weighted number of
diluted shares outstanding 15,750,284 16,177,881
Three Months Ending December 31
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2005 2004
Total Revenues $5,371,110 $4,855,618
Cost of Sales $3,164,846 $3,139,787
Gross Profit $2,206,264 $1,725,831
Other Income $ --- $ 245,264
Total Net Earnings $ 263,903 $ 344,802
Earnings Per Share
Diluted $ .02 $ .02
Weighted number of
diluted shares outstanding 15,881,591 16,177,881
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