AUDIOSCIENCE, INC. REPORTS THIRD QUARTER RESULTS
AUDIOSCIENCE, INC. REPORTS THIRD QUARTER RESULTS MINNETONKA, Minn., Nov. 13 /PRNewswire/ -- AudioScience, Inc.
(NASDAQ: AUDS) today reported its results for the third quarter ended Sept. 30, 1992. The company experienced a third quarter net loss of $540,368 and a nine month net loss of $1,723,557. In September the company inaugurated its Beta Clinical Test Program resulting in net sales of $2,390 for the period. As the company continued its product development program, general and administrative expenses increased while research and development expenses and sales and marketing expenses decreased in the third quarter.
AudioScience, Inc. is a development stage company which has designed and developed, manufactures and markets technologically advanced hearing instrument systems. The AudioScience mission is to be the technology leader in the development of medical devices for audiology, otolaryngology and the hearing health care market. The AudioScience Hearing System consists of a multi-environment, dual channel hearing instrument and a dual purpose remote control. For the user, the remote control provides the capability of adjusting the hearing instrument according to his or her individual listening needs and allows the selection of up to 10 custom settings. For the dispensing professional, the remote control becomes the programming tool for customizing the hearing system when a special programming key is inserted. AUDIOSCIENCE, INC. Third Quarter Ended Sept. 30, 1992 Three Months Ended 9/30/92 9/30/91 Net loss for the period $(540,368) $(590,290) Net loss per share $(0.15) $(0.16) Nine Months Ended 9/30/92 9/30/91 Net loss for the period $(1,723,557) $(1,769,704) Net loss per share $(0.47) $(0.64) -0- 11/13/92 /CONTACT: Douglas Jensen, president, or James L. Baustert, CFO, 612-936-0200, both of AudioScience/ (AUDS) CO: AudioScience, Inc. ST: Minnesota IN: MTC SU: ERN
AL -- MN020 -- 0900 11/13/92 17:07 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 13, 1992|
|Previous Article:||AMP FOURTH QUARTER SALES AND EARNINGS TO BE LOWER THAN EXPECTED; AMP CONTINUES TO EXPECT GROWTH IN SALES AND EARNINGS IN 1993|
|Next Article:||KEY TRONIC INTRODUCES WRIST PAD WITH WORK PACE MODULE|