Bovie Medical Reports Financial Results for 1999.Business Editors/Health & Medical Writers MELVILLE, N.Y.--(BUSINESS WIRE)--April 17, 2000 Bovie Medical Corporation (the "Company") (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. Symbol: BOVI), a leading manufacturer and marketer of electrosurgical products today reported results for the year ended December December: see month. 31, 1999. Revenues increased 14 percent to a record $9.6 million versus $8.4 million in the previous year. Excluding the effects of a non-recurring loss, the Company's net income for the year would have amounted to $626,004 or $.04 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, as opposed to a loss of $(920,162) recorded in the previous year. The non-recurring charge of $2,170,00, which resulted in a net loss for the year of $(2,183,839) or a loss of $(.13) cents per diluted share is related to the previously announced agreement which provided for the reacquisition of 2.0 million convertible shares from Advanced Refractory refractory Material that is not deformed or damaged by high temperatures, used to make crucibles, incinerators, insulation, and furnaces, particularly metallurgical furnaces. Technologies, Inc. (ART), in exchange for certain assets, and the cancellation of the licensing and manufacturing agreement between Bovie and ART with respect to DYLAN (DYnamic LANguage) An object-oriented programming language developed at Apple in the late 1980s with assistance from Harlequin Group plc, Carnegie Mellon University and others. Dylan was designed to provide the simplicity of Smalltalk with the efficiency of C++. (TM) the technology. Andrew Makrides, president of Bovie, stated, "we are pleased with our growth in revenues and are determined to improve our top and bottom lines, through the introduction of new products combined with increasing sales to our established customers. In addition, we remain focused on identifying opportunities that will enhance and accelerate our long term growth." Bovie, and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Aaron Aaron (âr`ən), in the Bible, the brother of Moses and his spokesman in Egypt, and the first high priest of the Hebrews. He is presented as the instrument of God in performing many signs, such as the turning of his rod into a serpent and Medical Industries, are engaged in the engineering, manufacturing and marketing of electrosurgical medical products. This document may contain some forward looking statements, particularly regarding operational prospects in 1999 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. |
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