AMERICAN BIODYNAMICS ANNOUNCES FIRST QUARTER RESULTS
AMERICAN BIODYNAMICS ANNOUNCES FIRST QUARTER RESULTS TAMPA, Fla., March 13 /PRNewswire/ -- American Biodynamics, Inc.
(NASDAQ: BDYNF), today announced profitable results from operations for the first fiscal quarter ended Feb. 29, 1992.
The company recognized unaudited revenues of $1,107,721, which generated a net profit of $118,550, or $0.02 per share. These figures compare very favorably to prior year results. Revenues for the prior comparable period were $673,306, with a net loss of $9,792, or a loss of $0.002 per share. Revenues increased 65 percent from the comparable prior year period. The gross profit margin increased to 46.9 percent from 42.3 percent. The current period's net profit margin was 10.4 percent. General and administrative expenses, as a percent of revenue, decreased to 17.3 percent from 21.4 percent for the prior comparable period. Sales and marketing expenses, s a percent of revenue, decreased from 16.9 percent for the comparable prior period to 12.0 percent. The company's working capital ratio increased significantly to 3.04 from 1.92 at Nov. 30, 1991. The quick ratio also increased substantially to 2.45 from 1.30 for the same time period. ABI's long- term debt to total capitalization ratio at the end of the first fiscal quarter was 16.7 percent. John V. Hargiss, president, said, "ABI's financial performance continues to meet or exceed plan, and management continues its efforts to increase market share of hard and soft tissue products. We are particularly pleased with ABI's positive financial peformance, as evidenced by the significant increase in profit margins and the improved working capital ratio. We believe this enhanced financial condition bodes well for ABI as we continue to identify and review complimentary product line acquisition opportunities." American Biodynamics, Inc., provides high quality specialty surgical products to the neuro, orthopedic, plastic and reconstructive and other surgical specialties. The company is chartered in British Columbia, Canada, and has its executive offices in Tampa, Fla. -0- 3/13/92 /CONTACT: John V. Hargiss or Marti Bruce of American Biodynamics, 813-979-0016/ (BDYNF) CO: American Biodynamics, Inc. ST: Florida IN: HEA SU: ERN
GK -- NY024 -- 7732 03/13/92 10:38 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Mar 13, 1992|
|Previous Article:||AT&T OBTAINS POLISH ORDER FOR OPTICAL FIBER|
|Next Article:||AT&T PROVIDES ON-LINE COMPUTER ACCESS TO ITS 1991 ANNUAL REPORT|