Laser Corp. Announces Third Quarter Results.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--Nov. 14, 2001 Laser Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: LSER LSER Linear Solvation Energy Relationship LSER Labor Standards Enforcement Report LSER London and South Eastern Railways (UK) ) Wednesday announced results for the third quarter ended Sept. 30, 2001. Revenues for the three months ended Sept. 30, 2001 were $669,849 as compared to $1,375,251 for the same period in 2000, which resulted in a net loss for the period of $131,377, or $.08 per share, as compared to net income of $16,175 or $.01 per share in 2000. The significant decline in revenues was due primarily to a dramatic decrease in medical products sales. For the first nine months of 2001, revenues were $2,344,834 as compared to $2,816,794 for the same period in 2000. The company recorded a net loss for the period of $588,104, or $.36 per share, as compared to a net loss of $494,054 or $.30 per share in 2000. B. Joyce Wickham, president and chief executive officer of the company, commented that, "We are disappointed with the significant decline in sales of our medical products this year that has resulted in lower sales and increased losses. "We are currently conducting a thorough review of the company, its operations, and markets in order to correct performance-related issues and determine any necessary modifications of our strategic plan." Any statements released by Laser Corp. that are forward-looking are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the company's business and prospects, including economic, competitive, governmental, technological and other factors discussed in the company's filings with the Securities and Exchange Commission. Laser Corp., based in Salt Lake City, designs, manufactures, and markets ophthalmic and cutaneous cutaneous /cu·ta·ne·ous/ (ku-ta´ne-us) pertaining to the skin. cu·ta·ne·ous adj. Of, relating to, or affecting the skin. Cutaneous Pertaining to the skin. medical laser systems and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and laser products. |
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