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CELLEX BIOSCIENCES REPORTS RESULTS FOR THIRD QUARTER AND NINE MONTHS ENDED JUNE 30, 1993

 MINNEAPOLIS, Aug. 17 /PRNewswire/ -- Cellex Biosciences, Inc. (NASDAQ: CLXX) announced today results for its third quarter and nine months ended June 30, 1993.
 For the third quarter, operating revenues increased significantly to approximately $2,948,952 compared with $794,862 for the three-month period in fiscal 1992. Income before an extraordinary charge was $492,287, or $0.02 per share, compared with a loss of $680,897 or $0.03 per share for the same period last year. Third-quarter 1993 results included a $317,436, or $0.01 per share extraordinary charge related to the write-off of deferred financing costs on the early extinguishment of debt. Net income for the three-month period was $174,851 or $0.01 per share compared to a loss of $680,897 or $0.03 per share last year. Third-quarter results were favorably impacted by the recognition of a $1 million fee pursuant to the company's transfer of the bio-artificial liver (BAL) technology to Regenerex, Inc., offset by a write-off of $303,187 of related costs.
 For the nine-month period, operating revenues of $6,373,557 were substantially higher than revenues of $2,835,315 for the comparable 1992 period. Before the extraordinary charge in this year's third quarter, income was $593,892, or $0.02 per share, compared with a loss of $1,488,672, or $0.08 per share in the nine-month period of fiscal 1992. Net income for the nine-month period was $276,456 or $0.01 per share, compared with a net loss of $1,488,672 or $0.08 per share for the fiscal 1992 nine-month period.
 Richard E. Sakowicz, president and chief operating officer of Cellex Biosciences, said: "We are very pleased to report these financial results. During the third quarter of fiscal 1993, we benefited from strong domestic sales growth as well as sales of the newly acquired Verax systems to Tosoh, one of our Japanese distributors. Contract production and grant revenues also increased during the quarter. In the third quarter, we completed the transfer of the BAL technology from Cellex Biosciences to Regenerex. As a result of this transfer Regenerex will assume the financial obligations for the project minimizing Cellex Biosciences' financial risk. Cellex Biosciences will benefit in the short term from research and development revenues and, in the long term, it provides the company with potential equity participation, royalties or manufacturing revenue."
 Sakowicz went on to say that, "While we believe we have achieved our objectives in implementing our strategic plan, we must continue to focus our efforts on product and market diversification in order to achieve profitability on a consistent basis."
 CELLEX BIOSCIENCES, INC.
 CONDENSED STATEMENTS OF OPERATIONS
 (Unaudited and in thousands, except per-share amounts
 For the 3 Months For the 9 Months
 Ended June 30 Ended June 30
 1993 1992 1993 1992
 Operating Revenues $ 2,949 $ 795 $6,374 $ 2,835
 Operating Income (Loss) $ 611 $(602) $ 941 $(1,307)
 Income (Loss) Before
 Extraordinary Item $ 492 $(681) $ 594 $(1,489)
 Extraordinary Item:
 Write-off of deferred
 financing costs on early
 extinguishment of debt $ (317) --- $ (317) ---
 Net Income (Loss) $ 175 $(681) $ 276 $(1,489)
 Net Income (Loss) Per
 Share of Common Stock:
 Income (loss) before
 extraordinary item $ 0.02 $(0.03) $ 0.02 $ (0.08)
 Extraordinary Item $(0.01) --- $(0.01) ---
 Net Income (Loss) Per
 Share of Common Stock $ 0.01 $(0.03) $ 0.01 $ (0.08)
 Weighted Average Number
 of Common Shares
 Outstanding 29,681 20,482 25,371 19,568
 Cellex Biosciences, Inc., headquartered in Minneapolis, is dedicated to providing cell processing products and services to meet the needs of human health-care and biotechnology markets worldwide.
 -0- 8/17/93
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations, Cellex Biosciences, 313-871-7350/
 (CLXX)


CO: Cellex Biosciences, Inc. ST: Minnesota IN: MTC SU: ERN

SB-DD -- DE015 -- 3590 08/17/93 13:24 EDT
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Date:Aug 17, 1993
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