Printer Friendly

EPITOPE REPORTS SECOND-QUARTER RESULTS

 EPITOPE REPORTS SECOND-QUARTER RESULTS
 BEAVERTON, Ore., May 7 /PRNewswire/ -- Epitope Inc. (AMEX: EPT)


today reported revenues of $892,904 and a loss of $1,563,211 (18 cents per share) for the quarter ended March 31, 1992. These results compare to revenues of $1,044,846 and a loss of $1,247,997 (17 cents per share) for the same quarter in the prior year. The current quarter loss is an 8 percent improvement over the preceding quarter loss of $1,706,415 (20 cents per share).
 "Sales of Epitope's OraSure(R) oral specimen collection device produced $530,000 or 59 percent of total revenues during the quarter, while shipments of EPIblot(R) AIDS confirmatory tests accounted for $233,000, more than double the shipments reported for the preceding quarter," said Adolph J. Ferro, president and chief executive officer. Ferro added that under a recently renewed distribution and supply agreement, the company's marketing partner for EPIblot, Organon Teknika Corp., had placed orders amounting to $440,000 for delivery in the third quarter of fiscal 1992.
 Ferro also explained that research and development, with second- quarter expense of $922,000, continues to be a major focus of the company, with significant activity in the field of oral specimen diagnostics. Epitope's wholly owned subsidiary, Agritope Inc., expended $268,000 for grape micropropagation production and application of its proprietary ethylene control technology to improve the post-harvest shelf life of a number of plants and vegetables.
 Ferro noted that Epitope had recently filed a response to Food and Drug Administration (FDA) comments on the company's application for Premarket Approval (PMA) to allow commercial distribution of OraSure for AIDS testing. While awaiting FDA approval, OraSure is being sold in certain foreign countries, principally Canada, and for cotinine testing in the United States.
 Epitope Inc. is an Oregon corporation utilizing biotechnology to develop diagnostic tests for AIDS and other indications, therapeutic antimicrobial drugs, and, through its agricultural unit, Agritope Inc., superior new plant varieties.
 EPITOPE INC.
 (In thousands, except per-share data)
 Ended March 31: Three Months Six Months
 1992 1991 1992 1991
 Operating Highlights:
 Revenues $ 893 $ 1,045 $ 1,469 $ 1,860
 Net loss (1,563) (1,248) (3,270) (2,023)
 Net loss per share (0.18) (0.17) (0.38) (0.28)
 March 31: 1992 1991
 Selected Balance Sheet Data:
 Working capital $ 8,598 $ 6,166
 Assets 13,026 10,426
 Shareholders' equity 12,461 9,513
 -0- 5/7/92
 /CONTACT: Mary Hagen of Epitope, 503-641-6115; or Shari Annes of Annes Associates, 415-726-5400, for Epitope/
 (EPT) CO: Epitope Inc. ST: Oregon IN: MTC SU: ERN


JH-LM -- SE012 -- 7886 05/07/92 18:20 EDT
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:May 7, 1992
Words:441
Previous Article:SCHERRER, ZARRAS NAMED TO NEW POSTS WITH EMERY WORLDWIDE
Next Article:AMERICAN METALS SERVICE ANNOUNCES DEATH OF CHIEF EXECUTIVE OFFICER
Topics:


Related Articles
EPITOPE REPORTS RECORD ANNUAL REVENUES, ANNOUNCES FOURTH-QUARTER RESULTS
EPITOPE REPORTS FIRST-QUARTER RESULTS
EPITOPE, INC. REPORTS SECOND-QUARTER OPERATING RESULTS
EPITOPE REPORTS FISCAL 1996 FIRST QUARTER RESULTS
EPITOPE REPORTS SECOND QUARTER OPERATING RESULTS
Epitope Announces First Quarter Operating Results
Epitope Announces Second Quarter Operating Results
/C O R R E C T I O N -- Epitope, Inc./(Correction Notice)
/C O R R E C T I O N -- Epitope, Inc./ (Credit Ratings)
Epitope Announces Second Quarter Operating Results

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