Printer Friendly

BIOPLASTY ANNOUNCES SECOND QUARTER RESULTS OF OPERATIONS

 BIOPLASTY ANNOUNCES SECOND QUARTER RESULTS OF OPERATIONS
 ST. PAUL, Minn., March 13 /PRNewswire/ -- Bioplasty, Inc.


(NASDAQ-NMS: BIOP) announces sales of $1,778,862 for the three months ended Jan. 31, 1992, or a 42 percent decrease compared to the three months ended Jan. 31, 1991. Operating loss for the three months ended Jan. 31, 1992 was $4,916,266 compared to operating income of $554,437 for the three months ended Jan. 31, 1991. Sales and operating loss for the six months ended Jan. 31, 1992 was $4,377,288 and $5,744,846 respectively, compared to sales of $5,519,503 and operating income of $788,084 for the first six months of fiscal 1991.
 The company attributes the decreases in net revenues to the cessation of sales of silicone gel-filled mammary prostheses in the United States marketplace, and the establishment in the second quarter of 1992 of reserves for future returns of silicone gel-filled breast implants. Operating losses have resulted further from the establishment of reserves for inventory write-downs and for various legal matters including the proposed settlement of the shareholder lawsuit for cash and warrants totaling $3.3 million. Although the IDE for MISTI GOLD mammary implants was withdrawn, the company intends for it to be resubmitted and is hopeful that clinical studies will eventually be initiated in the United States.
 Bioplasty, Inc. has more than 20 years of experience in the development, manufacturing and marketing of plastic surgery products worldwide. Bioplasty's stock is currently traded on NASDAQ National Market System under the symbol "BIOP."
 BIOPLASTY, INC.
 SUMMARY OF OPERATIONS
 Three Months Ended Six Months Ended
 1/31/92 1/31/91 1/31/92 1/31/91
 Net revenue $1,778,862 $3,068,391 $4,377,288 $5,519,503
 Operating income (loss) (4,916,266) 554,437 (5,744,846) 788,084
 Income tax expense
 (benefit) (403,215) 103,013 (569,000) 188,500
 Net income (loss) $(4,368,963) $423,833 $(4,838,365) $564,894
 Earnings (loss) per share $(1.09) $.13 $(1.21) $.18
 -0- 3/13/92
 /CONTACT: Timothy P. Lawin or Donald A. Major, 612-636-4112, both of Bioplasty
 (BIOP) CO: Bioplasty, Inc. ST: Minnesota IN: MTC SU: ERN


AL -- MN012 -- 7996 03/13/92 18:01 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:Mar 13, 1992
Words:378
Previous Article:TELECONCEPTS CORPORATION ANNOUNCES RESULTS
Next Article:AMERICAN STOCK EXCHANGE DAILY REPORT
Topics:


Related Articles
BIOPLASTY, INC. ANNOUNCES FISCAL 1992 OPERATING RESULTS
BIOPLASTY ANNOUNCES FIRST QUARTER OPERATING RESULTS
BIOPLASTY LICENSES SYNTHETIC WOUND CARE DRESSING
BIOPLASTY ANNOUNCES RESIGNATION OF CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD
BIOPLASTY AGREES TO PROPOSED SETTLEMENT OF SHAREHOLDERS' SUIT
BIOPLASTY ANNOUNCES THIRD QUARTER RESULTS OF OPERATIONS
BIOPLASTY, INC. ANNOUNCES PROHIBITION OF SPIN OFF RECOMMENDED
BIOPLASTY, INC. ANNOUNCES RESIGNATION OF PRESIDENT AND CHIEF EXECUTIVE OFFICER
BIOPLASTY, INC. ANNOUNCES SECOND QUARTER 1993 RESULTS OF OPERATIONS
BIOPLASTY, INC. FILES PLAN OF REORGANIZATION

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters