Catalytica reports third quarter results.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Oct. 24, 1995-- Catalytica, Inc. (Nasdaq:CTAL CTAL Confederacion de Trabajadores de America Latina (Confederation of Latin American Workers) CTAL Canadian Tire Acceptance Limited CTAL Computer Technology Application Lab, Inc. CTAL Confidentially Typed Assembly Language ) today reported financial results for the third quarter and first nine months of fiscal 1995, ended September September: see month. 30, 1995. The company reported revenues of $3.2 million and a net loss of $1.9 million ($0.12 per share) for the third quarter of 1995, compared to revenues of $2.3 million and a net loss of $3.0 million ($0.20 per share) in the third quarter last year. For the first nine months of fiscal 1995, Catalytica reported revenues of $8.7 million and a net loss of $6.8 million ($0.45 per share), compared to revenues of $9.7 million and a net loss of $6.6 million ($0.44 per share) in the first nine months of 1994. Revenues for the third quarter of 1995 increased compared to the same period last year as a result of fine chemical products shipped to new pharmaceutical customers and to Sandoz For the pre-1996 company, see . Sandoz is the generics subsidiary of Novartis, a multinational pharmaceutical company. The company develops, manufactures and markets off-patent medicines as well as pharmaceutical and biotechnological active ingredients. Agro For the video game character, see . Agro is a puppet character on Australian television, who describes himself as a 'talking bathmat'. He is operated by comedian Jamie Dunn. under a long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. supply contract. The decrease in revenues for the first nine months of 1995 compared to the same period last year reflects a decrease in research revenues as the Company focuses on the commercialization of its products. Expenses for the third quarter and first nine months of 1995 were lower than in the comparable 1994 periods. Decreased research and development expenses were partially offset by increased marketing and sales expenses. Catalytica is developing and offering to its customers advanced products that use the Company's proprietary catalytic cat·a·lyt·ic adj. Of, involving, or acting as a catalyst: "Deregulation's catalytic power . . . is still reshaping the banking, communications, and transportation industries" Ellyn E. technologies to yield economic and environmental benefits by lowering manufacturing costs and reducing hazardous byproducts. -0-
Catalytica, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts; unaudited)
Three Months Nine Months
Ended Sept. 30, Ended Sept. 30,
1995 1994 1995 1994
Revenues:
Product sales $1,893 $759 $4,915 $4,086
Research and development 1,355 1,556 3,778 5,588
Total revenues 3,248 2,315 8,693 9,674
Costs and expenses 5,152 5,499 15,745 16,849
Operating loss (1,904) (3,184) (7,052) (7,175)
Interest, net 44 200 216 610
Net loss $(1,860) $(2,984) $(6,836) $(6,565)
Shares used in
computing net
loss per share 15,139 14,950 15,104 14,917
Net loss per share $(0.12) $(0.20) $(0.45) $(0.44)
Catalytica, Inc.
Condensed Consolidated Balance Sheets
(in thousands; unaudited)
Sept. 30, 1995 Dec. 31, 1994
Assets:
Current assets $10,611 $16,586
Property and equipment, net 5,293 5,449
Long-term assets 100 151
------- -------
$16,004 $22,186
Liabilities and
Stockholders' Equity:
Current liabilities $4,818 $4,713
Long-term liabilities 2,094 1,694
Stockholders' equity 9,092 15,779
------- -------
$16,004 $22,186
CONTACT: Catalytica, Inc. Larry Lar´ry n. 1. Same as Lorry, or Lorrie. Briscoe The Briscoe was an American automobile manufactured at Jackson, Michigan by a group headed by Benjamin Briscoe. A few months after his departure from the United States Motor Company in 1913, Benjamin Briscoe established a manufacturing plant at Billancourt, France to , 415/940-6370 Alice Alice, city (1990 pop. 19,788), seat of Jim Wells co., S Tex.; inc. 1910. Long a cow town at a railroad junction, Alice remains a cattle-shipping center. Oil and natural gas are also important to its economy. Manufactures include office equipment and fishing tools. Galloway Galloway, district, Dumfries and Galloway, SW Scotland. The Rhinns, or Rinns, of Galloway is a rocky double peninsula that juts into the North Channel of the Irish Sea; its southern extremity is called the Mull of Galloway and is the southernmost point in Scotland. , 415/940-6382 |
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