Cell Robotics Reports 1999 Third Quarter Financial Results.ALBUQUERQUE, N.M.--(BW HealthWire)--Nov. 15, 1999-- Cell Robotics robotics, science and technology of general purpose, programmable machine systems. Contrary to the popular fiction image of robots as ambulatory machines of human appearance capable of performing almost any task, most robotic systems are anchored to fixed positions 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 ) the developer of the Lasette Lasette® Lab medicine A laser finger perforator for capillary sampling of glucose and other chemistries, which provides less-painful monitoring for Pt and eliminates accidental needle sticks. See Needle stick. (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 capillary (kăp`əlĕr'ē), microscopic blood vessel, smallest unit of the circulatory system. Capillaries form a network of tiny tubes throughout the body, connecting arterioles (smallest arteries) and venules (smallest veins). blood in a nearly painless pain·less adj. Free from complication or pain: a painless operation. pain  less·ly adv. manner, Monday announced financial
results for the third quarter and nine-month period ended Sept. 30,
1999.The company reported third quarter revenues of $264,476 compared to revenues of $273,891 in the comparable quarter. The net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. applicable to the common shareholders was $455,249, or ($0.06) per share, compared to net loss applicable to common shareholders in the third quarter of 1998 of $671,958, or ($0.13) per share. For the nine-month period ended Sept. 30, 1999 revenues were $1,381,257 compared to $1,057,603 in the comparable period of the previous year; a 31% increase. The net operating loss for the nine-month period was $1,306,725 or ($0.17) per share, compared to a net loss of $1,252,887, or ($0.24) per share in the same period last year. The company issued 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. dividends in common stock valued at $515,280 during the nine-month period, bringing the net loss applicable to common shareholders to $1,822,005, or ($0.24) per share, compared to net loss applicable to common shareholders in the nine-month period of 1998 of $1,493,629, or ($0.29) per share. Historically, the third quarter is the lowest in revenue for Cell Robotics. During this quarter, the company focused its efforts on completing the product development of the Personal Lasette and preparing it for manufacturing. Cell Robotics is pleased to announce that all of the parts have arrived and the manufacturing of the Personal Lasette has commenced. The Lasette is the only 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. cleared alternative to the needle or steel blade lancet lancet /lan·cet/ (lan´set) a small, pointed, two-edged surgical knife. lan·cet n. available for diabetics to draw their blood for testing their glucose level to determine insulin insulin, hormone secreted by the β cells of the islets of Langerhans, specific groups of cells in the pancreas. Insufficiency of insulin in the body results in diabetes. Insulin was one of the first products to be manufactured using genetic engineering. injection strategies. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. Consolidated Statement of Operations See Income statement. on Attached Page -0-
Cell Robotics International Inc.
Consolidated Condensed Statements of Income
(Unaudited)
Three Months Ended
Sept. 30, Sept. 30,
1999 1998
Product sales $205,744 $237,389
Research and development grants 58,732 36,502
Total revenues 264,476 273,891
Product cost of goods sold (185,785) (156,207)
SBIR direct expenses (56,938) (36,502)
Total cost of goods sold (242,723) (192,709)
Gross profit 21,753 81,182
Operating expenses:
General and administrative 202,664 202,198
Marketing & sales 150,944 84,795
Research and development 129,843 247,214
Total operating expenses 483,451 534,207
Loss from operations (461,698) (453,025)
Other income (deductions):
Interest income 6,968 22,347
Interest expense (519) (538)
Total other income 6,449 21,809
Net loss $(455,249) $(431,216)
Preferred stock dividends $(0) $(240,742)
Net loss applicable to common
shareholders $(455,249) $(671,958)
Weighted average common shares
outstanding, basic and diluted 8,202,785 5,289,277
Net loss per common share,
basic and diluted $(0.06) $(0.13)
Nine Months Ended
Sept. 30, Sept. 30,
1999 1998
Product sales $1,271,293 $896,039
Research and development grants 109,964 161,564
Total revenues 1,381,257 1,057,603
Product cost of goods sold (941,073) (538,739)
SBIR direct expenses (108,170) (161,564)
Total cost of goods sold (242,723) (700,303)
Gross profit 332,014 357,300
Operating expenses:
General and administrative 757,235 628,900
Marketing & sales 505,168 444,732
Research and development 397,701 603,772
Total operating expenses 1,660,104 1,677,404
Loss from operations (1,328,090) (1,320,104)
Other income (deductions):
Interest income 22,024 68,163
Interest expense (659) (946)
Total other income 21,365 67,217
Net loss $(1,306,725) $(1,252,887)
Preferred stock dividends $(515,280) $(240,742)
Net loss applicable to common
shareholders $(1,822,005) $(1,493,629)
Weighted average common shares
outstanding, basic and diluted 7,568,249 5,168,540
Net loss per common share,
basic and diluted $(0.24) $(0.29)
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