Cell Robotics reduces Q1 net loss and finalizes agreement on laser skin perforator for diabetic patients.ALBUQUERQUE, N.M.--(BUSINESS WIRE)--May 22, 1996--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. reported a first-quarter net loss of 9 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Cell Robotics' net loss for the three months ended March 31, 1996, was $350,614, which is a slight improvement over the net loss of $380,078 incurred during the comparable period of 1995. On a per-share basis, this amounts to a 9 cents loss per share during the first quarter 1996, compared to a 34 cents loss per share during the first quarter of 1995. In October 1995, Cell Robotics embarked on a comprehensive re-design of its core optical trapping trapping, most broadly, the use of mechanical or deceptive devices to capture, kill, or injure animals. It may be applied to the practice of using birdlime to capture birds, lobster pots to trap lobsters, and seines to catch fish. , cutting and manipulating products. This effort was undertaken to provide customers with a new, computer-controlled, workstation-based product line. As a result of this re-design, Cell Robotics' new products required testing and certification by an outside entity to ensure compliance with certain regulations of the Federal Communication Commission (FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. ) and the new 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. Directive 93/465/EEC, which became effective Jan. 1, 1996. Although such a certification is typically not time consuming, all other companies exporting to Europe required the same type of testing during the same time frame because of the new European Community Directive. As a result, Cell Robotics was unable to obtain a testing appointment early enough in the first quarter of 1996 to allow for the assembly and shipment of the newly designed products by March 31, 1996. The majority of orders received during the first quarter of 1996 were for the newly designed products. Therefore, although Cell Robotics had a back order of approximately $330,000 as of March 31, 1996, revenues for the three months then ended amounted to only $58,624, compared with revenues of $194,679 for the same period in 1995. All products in the new Cell Robotics Workstation instrument line have now passed both FCC and European Community testing. Dr. Lohrding, president and chief executive officer, stated: "First-quarter purchase orders exceeded our expectations; however, redesigning our products and the unexpected FCC testing backlog had a negative impact on first-quarter revenues. Research and medical device sales are generally cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. , with most of the sales coming in the last quarter of the calendar year, as institutions spend their year-end `capital equipment' money." In addition, Cell Robotics announced the signing of the completed definitive agreement with GEM Edwards Inc. for the manufacture, distribution and sale of the laser skin 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. for diabetic patients. GEM Edwards has guaranteed the production of 2,500 units and estimates that U.S. sales of this product will top $20 million in three years. The signing of a letter of intent had previously been announced on March 25, 1996. CONTACT: Cell Robotics International Inc. Craig Rogers Craig Rogers is a Gaelic football player from Laois in Ireland. He can play in both attack and defence and in 2003 was captain of the Laois team that won the All-Ireland Minor Football Championship title for the first time since 1997. , 719/590-4900 or J. Shelton Associates, 214/239-5119 or e-mail: crii@cellrobotics.com |
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