AUDIOSCIENCE REPORTS SECOND QUARTER RESULTS
AUDIOSCIENCE REPORTS SECOND QUARTER RESULTS MINNETONKA, Minn., Aug. 18 /PRNewswire/ -- AudioScience, Inc.
(NASDAQ: AUDS) today reported its results for the second quarter ended June 30, 1992. The company experienced a second quarter net loss of $645,697 and a six month net loss of $1,183,189. The company has had no sales to date and its net loss equals its operating expenses minus interest income. As the company continued its product development program, general and administrative expenses, and research and development expenses increased while sales and marketing expenses decreased in the second quarter. The company expects operating expenses generally to continue to increase during the period of initial product development.
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 any 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. Three Months Ended Six Months Ended 6/30/92 6/30/91 6/30/92 6/30/91 Net loss $(645,697) $(614,332) $(1,183,189) $(1,179,414) Net loss per share $(.18) $(.25) $(.32) $(.50) -0- 8/18/92 /CONTACT: Douglas Jensen or James L. Baustert, 612-936-0200, both of AudioScience/ (AUDS) CO: AudioScience, Inc. ST: Minnesota IN: MTC SU: ERN
AL -- MN010 -- 1129 08/18/92 17:29 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Aug 18, 1992|
|Previous Article:||CORRECTION TO AMEX JAPAN INDEX OPTIONS TOP 9,000 CONTRACT MARK|
|Next Article:||ISRAEL BONDS 1992 SALES RUNNING AT RECORD PACE AS INVESTMENTS TO DATE EXCEED $800 MILLION|