Strategic Diagnostics Inc. Reports Fourth Quarter and Record Year End Financial Results.NEWARK, Del.--(BUSINESS WIRE)--February 11, 1998-- Significant Growth in Emerging Markets of Agriculture and Water Treatment Strateg fourth quarter and year ended December 31, 199urth quarter was $495,000, or $0.03 per share, ame period of the previous year. Revenues and eroducts in the Company's polymer water treatment, the Company noted that total 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. , manufacturing expenses, research and development expenses, and selling, general and administrative expenses decreased sed to pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma expenses in the comparable periation of the Company's facility in Newtown, Penx Laboratories, as Vice President, Sales and Marketing. Total net revenues for the year ended December 31, 1997 increased to $14,420,000 from pro forma $12,700,000 for the prior year. Net income for the year was $1,677,000, or $0.11 per share, based on 15,712,000 weighted average shares outstanding, versus a pro forma net loss of $4,272,000, or $0.33 per share, based on 12,800,000 weighted average sing on the results, Richard C. Birkmeyer, Presidnet income. Through the Company's agreements with Rohm and Haas Rohm and Haas Company (NYSE: ROH), a Philadelphia, Pennsylvania based company, manufactures miscellaneous materials. A Fortune 500 Company, Rohm and Haas employs more than 17,000 people in 27 countries. The annual sales revenue of Rohm and Haas stands at about USD 8.2 billion. and Delta and Pine Land, we were able to realize increased sales in the water quality and agriculture martional relationships in these markets. Strategicisting markets. It is our intention to pursue cnagement team and look forward to her extensiveour accomplishments in 1997, and we continue to f cash, cash equivalents and short-term investments, of $9.4 million, and virtually no long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. . rmats suitable for field and laboratory use, offering advantages of accuracy, cost-effectiveness, portability, and rapid response. -0- This news release contains forward-looking statements reflecting SDI's current expectations. When used in this press release, the words "anticipate," "enable," and similar expressions as they relate to the Company are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDI (1) (Serial Digital Interface) A physical interface widely used for transmitting digital video in various formats. For electrical transmission, it uses a high grade of coaxial cable and a single BNC connector with Teflon insulation. at this time. Such risks and uncertainties include, without limitatTS OF OPERATIONS (in thousands, except share and per share data) (Unaudited) Three Months En 4,353 -- Selling, general and administrative 1,593 NET INCOME PER SHARE APPLICABLE TO COMMON STOCKHOLDERS $0.03 $ (1.15) $ (0.14) SHARES USED IN COMPUTING NET INCOME PER SHARE APPLICABLE TO COMMON STOCKHOLDERS 15,712,000 4,248,000 13,007,000 Year Ended 12/31/97 12/31/96 12/31/96(a) NET REVENUES: Product related $ 12,703 $ 3,402 $ 10,934 Contract and other 1,717 2,435 1,766 Total net revenues $ 14,420 $ 5,837 $ 12,700 OPERATING EXPENSES: Manufacturing 5,305 2,839 5,947 Research and development 1,580 1,569 3,332 Acquired research and development 8,266 -- Selling, general and administrative 6,132 1,737 8,282 Total operating expenses 13,017 14,411 17,561 Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. 1,403 (8,574) (4,861) INTEREST INCOME, (EXPENSE) NET 274 8 589 EQUITY IN INCOME OF TSD TSD Tay-Sachs disease. BIOSERVICES -- 178 -- NET INCOME (LOSS) 1,677 (8,388) (4,272) ACCRETION OF REDEEMABLE CONVERTIBLE PREFERRED STOCK LIQUIDATION VALUE Liquidation value Net amount that could be realized by selling the assets of a firm after paying the debt. -- (635) -- NET INCOME APPLICABLE TO COMMON STOCKHOLDERS $ 1,677 $ (9,023) $ (4,272) NET INCOME PER SHARE APPLICABLE TO COMMON STOCKHOLDERS $ 0.11 $ (2.12) $ (0.33) SHARES USED IN COMPUTING NET Irred on January 1, 1996. -0- CONSOLIDATED BALANCE SHEETS (unaudited)(unaudited) ASSETS CUs 1,695 3,858 Total stockholders' equi Lippert/Heilshorn & Assoc., Inc. EARNINGS Today's News On The Net - Business Wates and May & Speh Announce Energy Market Connect Business Editors, Utilities/Energy Writers r of technology-based information management se energy industry, the new company will be able to deliver proven and measurable business solutions, tailored to address each client's specific market opportunities and challenges. Building on experience gained over the past 15 years with more than 120 energy industry clients, Metzler & Associates contributes expertise in a wide range of management consulting services, including business strategy development, market and product management, and service delivery optimization. May & Speh brings extensive expertise in developing and executing database management solutions for leading direct marketers in a wide range of industr transforms corporate objectives into actionabe marketing approaches available in the industry today," said James T. Ruprecht, Metzler & Associates president. 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Services include s provides IT services to support mainframe and mid-range (client/server) processing and network management.810-5083 or Mernet with Hypel Angiogenesis angiogenesis /an·gio·gen·e·sis/ (-jen´e-sis) vasculogenesis; development of blood vessels either in the embryo or in the form of neovascularization or revascularization. an·gi·o·gen·e·sis n. Gene Business Editors/Hgenesis (the process of blood vessel blood vessel n. An elastic tubular channel, such as an artery, a vein, a sinus, or a capillary, through which the blood circulates. blood vessel(s), n the network of muscular tubes that carry blood. formation). The findings were published in the peer-reviewed journal peer-reviewed journal Refereed journal Academia A professional journal that only publishes articles subjected to a rigorous peer validity review process. Cf Throwaway journal. Gelop new therapeutics for cancer and cardiovascunesis through its specific interaction with a r. In recent studies, Progenitor pro·gen·i·tor n. 1. A direct ancestor. 2. An originator of a line of descent. progenitor ancestor, including parent. progenitor cell stem cells. researchers also have demonstrated del-1 expression in tumor blood vessels. tion in both development and disease," said Thosed toward discovery of new molecules likely torom the dozens of other interesting full-length l formation in conditions such as ischemia and restenosis following angioplasty." Drugs designed to inh tumor masses and metastases Metastasis (plural, metastases) A tumor growth or deposit that has spread via lymph or blood to an area of the body remote from the primary tumor. Mentioned in: Malignant Melanoma . Drugs that promote angiogenesis potentially may be used to induce re-growth or ontained herein, this news release contains forward-looking statements that involve risks and uncertainties nc. Lawrence K. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , 650/614-7003 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: BIOT with Hyperlinks to your home page. URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com |
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