Crown Laboratories Inc. releases financial results.LAS VEGAS--(BUSINESS WIRE)--May 16, 1996--Crown Laboratories Inc. (AMEX AMEX See: American Stock Exchange .EC:CLL CLL abbr. chronic lymphocytic leukemia CLL, n.pr See leukemia, chronic lymphocytic. CLL 1. Chronic lymphocytic leukemia 2. Cholesterol-lowering lipid ), announced results for the quarter ended March 31, 1996. The company reported a net loss of ($906,993) or (6 cents) per share as compared to a net loss of ($663,104) or (6 cents) per share for the corresponding period a year ago. The losses were due primarily to expenditures for salaries, plant start-up Start-up The earliest stage of a new business venture. and other operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . Crown has developed and is preparing to manufacture a proprietary line of aseptic aseptic /asep·tic/ (-tik) free from infection or septic material. a·sep·tic adj. Of, relating to, or characterized by asepsis. liquid nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. pending F.D.A. approval. -0-
Consolidated Statement of Operations
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for the 3 month periods ended March 31, 1996 and 1995
(unaudited)
March 31, 1996 March 31, 1995
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NET SALES $ -- $ --
Cost of sales -- --
General and Admin. Expenses 895,896 654,971
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Loss From Operations (895,896) (654,971)
OTHER INCOME/(EXPENSE)
Other income (a) 25,200 --
Interest expense (41,162) (26,409)
Interest income 4,865 18,275
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Loss Before Income Taxes (906,993) (663,104)
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Net Loss (906,993) (663,104)
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Net Loss per share $(0.06) $(0.06)
Weighted Avg. No. Shares
Outstanding 14,317,791 12,033,754
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Consolidated Balance Sheet
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UNAUDITED AUDITED
March 31, 1996 Dec. 31, 1995
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TOTAL CURRENT ASSETS $ 817,960 $ 891,055 TOTAL ASSETS 10,098,512 9,986,302 TOTAL CURRENT LIABILITIES 1,740,325 1,719,346 TOTAL SHAREHOLDERS' EQUITY 6,655,556 6,470,921
(a) Other income is attributable to the sub-leasing of space at the
company's manufacturing facility.
CONTACT: Crown Laboratories Inc., Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. Larry Rosenthal Larry Rosenthal (May 21, 1910 - March 4, 1992) was a subprofessional baseball outfielder in the 1930's and 40's. He first played with the Chicago White Sox in 1936, and hit a respectable .281 in 317 at bats. , 702/696-9300 or 610/667-4448 |
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