Bovie Medical Corporation Reports Financial Results for the First Quarter of Fiscal 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 first quarter ended March 31, 2005. Revenues for the first quarter of FY2005 totaled $4.74 million resulting in net income of $89,023 or $.01 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. For the comparable period last year the Company reported revenues of $4.74 million and net income of $239,831 or $.01 per diluted share. Commenting on the first quarter results, Andrew Makrides, president of Bovie Medical, stated, "As was previously reported first quarter results were impacted by a reduction in orders from a large 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 customer coupled with an increase in general overall expenses including R&D expenses directed at developing and marketing proprietary products: the suture suture /su·ture/ (soo´cher) 1. sutura. 2. a stitch or series of stitches made to secure apposition of the edges of a surgical or traumatic wound. 3. to apply such stitches. 4. removal device, GI device, J-Plasma and various additions to our electrosurgical generators. Both the suture removal device and GI device are slated for marketing in 2005." This document may contain some forward looking statements, particularly regarding operational prospects in 2005 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 FIRST QUARTERS ENDED MARCH 31
2005 2004
Total Revenues $4,743,211 $4,743,958
Cost of Sales $3,092,741 $2,996,507
Gross Profit $1,650,470 $1,747,451
Total Net Earnings $ 89,023 $ 239,832
Earnings Per Share
Diluted $.01 $.01
Weighted number of diluted shares outstanding 16,243,973 16,177,621
|
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion