Cell Robotics International Announces Third Quarter Results.ALBUQUERQUE, N.M.--(BW HealthWire)--Nov. 25, 1997--Cell Robotics International, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CRII CRII Cooperative Research in Information Infrastructure CRII Customer Returns Improvement Initiative ) today reported third quarter and nine month revenues of $293,723 and $828,566 respectively compared to revenues of $129,682 and $592,802 for the same periods last year. This is an increase of 127% and 40% respectively. However, due to additional costs of completing the three new medical products and manufacturing ramp-up, CRII reported a net loss for the third quarter ended Sept. 30, 1997 of $712,727 or $0.14 per share compared to a third quarter loss last year of $423,717 or $0.10 per share. For the nine months ended Sept. 30, 1997, the Company reported a net loss of 1,819,168 or $0.36 per share compared to a net loss of $1,081,657 or $0.28 per share last year. The Company anticipates significant contribution to revenues in 1998 from the Lasette(TM), an erbium:YAG laser erbium:YAG laser Surgery A laser for skin resurfacing and tissue sculpting, for general surgical use, for incision, excision, coagulation and vaporization of soft tissues, including subcutaneous, striated and smooth muscle, cartilage meniscus, calculi, mucosa, finger perforator per·fo·rate v. per·fo·rat·ed, per·fo·rat·ing, per·fo·rates v.tr. 1. To pierce, punch, or bore a hole or holes in; penetrate. 2. that was cleared by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. in October for professional use with adult diabetic patients. This is the first FDA clearance received for this type of device for use with diabetics. The RevitaLase(TM), an erbium erbium (ûr`bēəm) [from Ytterby, a town in Sweden], metallic chemical element; symbol Er; at. no. 68; at. wt. 167.26; m.p. 1,529°C;; b.p. 2,863°C;; sp. gr. 9.05 at 25°C;; valence +3. :YAG YAG n. A hard synthetic yttrium aluminum garnet used in laser technology and as a gemstone. [y(ttrium) + a(luminum) + g(arnet)1.] dermatology laser, has also received FDA clearance and a contribution to 1998 revenues is anticipated. A clinical trial is underway for the In Vitro Fertilization in vitro fertilization (vē`trō, vĭ`trō), technique for conception of a human embryo outside the mother's body. Several ova, or eggs, are removed from the mother's body and placed in special laboratory culture dishes (Petri dishes); Workstation to obtain FDA clearance for sales in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Workstation has already been approved for sales in the European Community European Community: see European Union. European Community (EC) Organization formed in 1967 with the merger of the European Economic Community, European Coal and Steel Community, and European Atomic Energy Community. . This product should also contribute to 1998 sales. CRII is delighted that some of the world leaders in In Vitro Fertilization are participating in the clinical study. Cell Robotics displayed these new products last week at MEDICA medica (māˑ·dē·k in Dusseldorf, Germany, the largest tradeshow for medical instruments in the world. All three products received enthusiastic responses from distribution companies in over 30 countries. Cell Robotics International, Inc. develops, manufactures and markets several proprietary medical and research laser devices and associated products with application niches in large markets. In addition to the currently marketed Cell Robotics Workstation, devices under development include the Lasette(TM) laser finger perforator for obtaining capillary blood samples for glucose measurements, an erbium:YAG dermatology laser, and an In Vitro Fertilization Workstation targeted at improving human fertility success rates. Additional information is available on the Cell Robotics Web Site at http://www.cellrobotics.com/cell, by e-mail at crii@cellrobotics.com, or by telephone at 505/343-1131. Note: Except for the historical information contained herein, the statements made in this release constitute forward-looking statements that involve certain risks and uncertainties. Certain factors may cause actual results to differ materially form those contained in the forward looking statements; including the volume of sales of instruments by the company and the ability of the Company to successfully manage its various contracts and the other factors detailed from time to time in the company's reports on file with the Securities and Exchange Commission. -0-
Statements of Operations
UNAUDITED UNAUDITED
Three Months Ended Nine Months Ended
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
1997 1996 1997 1996
Total revenues $ 293,723 $ 129,682 $ 828,566 $ 592,802
Net Loss $(712,727) $(423,717) $ (1,819,168)$(1,081,657)
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Net Loss
per common share (0.139) (0.103) (0.36) (0.275)
Weighted Average
Shares
Outstanding 5,142,403 4,100,697 5,054,026 3,926,416
-0- CONTACT: Cell Robotics International, Inc. Craig Rogers, 719/590-1793 (IR) or Richmont Consulting International Edda Brown or Sean Collins, 213/658-8088 |
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