Cell Robotics Reports 1999 Second Quarter Financial Results.ALBUQUERQUE, N.M.--(BW HealthWire)--Aug. 13, 1999-- Record revenues; second quarter increases 83 percent and six-month period increases 42.5 percent Cell Robotics International Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CRII CRII Cooperative Research in Information Infrastructure CRII Customer Returns Improvement Initiative ) the developer of the Lasette(R), a laser 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 allows the drawing of capillary blood in a nearly painless manner, Friday announced financial results for the second quarter and six-month period ended June 30, 1999. The company reported record second quarter revenues of $600,624 compared to revenues of $327,618 in the comparable quarter, an increase of 83 percent. The net loss applicable to the common shareholders was $429,207, or ($0.06) per share, compared to net loss applicable to common shareholders in the second quarter of 1998 of $526,958, or ($0.10) per share. For the six-month period ended June 30, 1999 revenues were $1,116,780 compared to $783,712, an increase of 42.5 percent in the comparable period of the previous year. The net loss for the six-month period was $851,476, or ($0.12) per share, compared to a net loss of $821,670, or ($0.16) per share in the same period last year. The company issued the last preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. dividend in common stock valued at $515,280 in the six-month period, bringing the net loss applicable to common shareholders to $1.4 million, or ($0.19) per share for the six-month period ended June 30, 1999. During the quarter Chronimed Inc., (Nasdaq:CHMD CHMD Change Mode Command ), the company's exclusive marketing and distribution partner, featured prototypes of the small home-use Personal Lasette(R) at the American Diabetes Association The American Diabetes Association, or the ADA, is an American health organization providing diabetes research, information and advocacy. Founded in 1940, the American Diabetes Association conducts programs in all 50 states and the District of Columbia, reaching hundreds of Conference on June 19, 1999 in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . The product was very well received and Chronimed will again display the Personal Lasette at the American Association American Association refers to one of the following professional baseball leagues:
The company also received two prestigious awards for the Lasette during the second quarter. Photonics Spectra Photonics Spectra is a monthly business-to-business (B2B) magazine published for the engineers, scientists and end users who develop, commercialize and buy photonic products. Magazine awarded the Lasette their "Circle of Excellence Award" commending one of the 25 most important new laser products of 1998. Furthermore, R&D Magazine awarded the Lasette an "R&D 100 Award." The R&D 100 award is given to the 100 most technologically significant new products and processes of the year and is considered the "Oscars of Invention" and the "Nobel Prize Nobel Prize, award given for outstanding achievement in physics, chemistry, physiology or medicine, peace, or literature. The awards were established by the will of Alfred Nobel, who left a fund to provide annual prizes in the five areas listed above. of Applied Research." Additionally, on July 28, 1999 the company announced the allowance of a patent for laser-mediated PCR PCR polymerase chain reaction. PCR abbr. polymerase chain reaction Polymerase chain reaction (PCR) for gene amplification Gene amplification The process by which a cell specifically increases the copy number of a particular gene to a greater extent than it increases the copy number of genes composing the remainder of the genome (all the genes which make up the genetic machinery , which could enhance Cell Robotics research instrument product line. In addition to the Lasette, Cell Robotics manufactures, markets, and distributes the IVF IVF in vitro fertilization. IVF abbr. in vitro fertilization IVF 1 In vitro fertilization, see there 2. Intravascular fluid Workstation and the Cell Robotics Workstation. Additional information on all three products is available on the Cell Robotics Web Site at http://www.cellrobotics.com, by e-mail at crii@cellrobotics.com, or by telephone at 505/343-1131. As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; the company's ability to execute its service and product sales plans; and the risks described from time to time in the company's Securities and Exchange Commission filings. -0-
Cell Robotics International Inc.
Consolidated Condensed Statements of Income
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30, June 30, June 30,
1999 1998 1999 1998
---------- ---------- ---------- ----------
Product sales $ 568,540 $ 244,375 $ 1,065,549 $ 658,650
Research and
development grants 32,084 83,243 51,231 125,062
Total revenues 600,624 327,618 1,116,780 783,712
Product cost of
goods sold (417,388) (160,093) (755,289) (382,532)
SBIR direct
expenses (32,084) (83,243) (51,231) (125,062)
Total cost of
goods sold (449,472) (243,336) (806,520) (507,594)
Gross profit 151,152 84,282 310,260 276,118
Operating expenses:
General and
administrative 217,376 216,951 551,665 429,606
Marketing & sales 234,938 201,090 371,340 358,078
Research and
development 132,616 219,748 253,648 355,512
Total operating
expenses 584,930 637,789 1,176,653 1,143,196
Loss from
operations (433,778) (553,507) (866,393) (867,078)
Other income
(deductions):
Interest income 4,662 26,889 15,057 45,816
Interest expense (91) (340) (140) (408)
Total other
income 4,571 26,549 14,917 45,408
Net loss $ (429,207) $ (526,958) $ (851,476) $ (821,670)
Preferred stock
dividends $ (0) $ (0) $ (515,280) $ (0)
Net loss
applicable
to common
shareholders $ (429,207) $ (526,958) $(1,366,756) $ (821,670)
Weighted average
common shares
outstanding,
basic and diluted 7,803,264 5,089,147 7,245,733 5,192,434
Net loss per common
share, basic and
diluted $ (0.06) $ (0.10) $ (0.19) $ (0.16)
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