Printer Friendly

BIOPLASTY, INC. ANNOUNCES FISCAL 1992 OPERATING RESULTS

 ST. PAUL, Minn., Nov. 16 ~PRNewswire~ -- Bioplasty, Inc. (NASDAQ-NMS: BIOP) announces sales of $6,754,000 for the year ended July 31, 1992, or a 45 percent decrease compared to fiscal 1991. Operating loss for fiscal 1992 was $11,979,000 compared to operating income of $855,000 in fiscal 1991.
 The company attributes the decreases in net revenues to the cessation of sales of MISTI silicone gel-filled and MISTI GOLD mammary prostheses in the United States and overseas markets, and to the credits granted to customers for returned breast implant product. Operating losses in fiscal 1992 have further resulted from the non-recurring charges associated with inventory write-downs totaling $1.4 million and various lawsuit costs and settlements totaling another $5.6 million.
 The five European subsidiary offices are now executing the product launch of Macroplastique(TM) Implants and the reintroduction of Bioplastique(TM) Micro-Implants (for plastic surgery) and Chondroplast(R) Processed Bovine Cartilage. These products are being produced at a contract manufacturing facility in the Netherlands. A similar contract manufacturing facility for MISTI GOLD is also being pursued overseas. The ability to manufacture and sell this innovative device in the international market will greatly assist in accomplishing the corporate goal of returning the MISTI GOLD Implants to the United States market.
 Bioplasty, Inc. has more than 21 years of experience in the development, manufacturing and marketing of plastic surgery products worldwide. Bioplasty's stock is currently traded on the NASDAQ National Market System under they symbol "BIOP."
 BIOPLASTY, INC.
 Summary of Operations
 Year Ended
 7~31~92 7~31~91
 Net revenue $6,754,000 $12,225,000
 Operating income (loss) (11,979,000) 855,000
 Income tax expense (benefit) (382,000) 375,000
 Net income (loss) $(10,915,000) $568,000
 Earnings (loss) per share $(2.66) $.16
 -0- 11~16~92
 ~CONTACT: Timothy P. Lawin, president and CEO, Donald A. Major, vice president of finance, 612-636-4112, both of Bioplasty~
 (BIOP)


CO: Bioplasty, Inc. ST: Minnesota IN: MTC SU: ERN

AL -- MN013 -- 1497 11~16~92 17:09 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 16, 1992
Words:340
Previous Article:APPLIANCE RECYCLING CENTERS OF AMERICA, INC. NAMES OFFICERS
Next Article:THE SPORTSMAN'S GUIDE INC. ANNOUNCES EARNINGS
Topics:


Related Articles
BIOPLASTY ANNOUNCES FIRST QUARTER OPERATING RESULTS
BIOPLASTY LICENSES SYNTHETIC WOUND CARE DRESSING
BIOPLASTY ANNOUNCES SECOND QUARTER RESULTS OF OPERATIONS
BIOPLASTY ANNOUNCES THIRD QUARTER RESULTS OF OPERATIONS
BIOPLASTY, INC. ANNOUNCES PROHIBITION OF SPIN OFF RECOMMENDED
SURVIVAL TECHNOLOGY, INC., ANNOUNCES FOURTH QUARTER EARNINGS INCREASE AND FISCAL 1992 AUDITED RESULTS
SURVIVAL TECHNOLOGY, INC. ANNOUNCES 100 PERCENT EARNINGS INCREASE FOR FIRST QUARTER FISCAL 1993
BIOPLASTY, INC. REACHES TENTATIVE AGREEMENT TO SETTLE SHAREHOLDERS' SUIT
BIOPLASTY, INC. ANNOUNCES SECOND QUARTER 1993 RESULTS OF OPERATIONS
BIOPLASTY, INC. FILES PLAN OF REORGANIZATION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters