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SURVIVAL TECHNOLOGY, INC., ANNOUNCES THIRD QUARTER RESULTS

 SURVIVAL TECHNOLOGY, INC., ANNOUNCES THIRD QUARTER RESULTS
 ROCKVILLE, Md., June 15 /PRNewswire/ -- Survival Technology, Inc. (NASDAQ: STIQ), today announced net income of $460,800 (15 cents per share) on sales of $10.3 million for the third quarter of fiscal 1992 compared with net income of $713,400 (24 cents per share) on sales of $12 million in the third quarter of fiscal 1991. For the first nine months of the current fiscal year, the company reported net income of $1,130,800 (37 cents per share) on sales of $29.7 million compared with net income of $2,515,300 (85 cents per share) on sales of $35.9 million for the comparable nine-month period in 1991. Income before extraordinary item (utilization of tax loss carryforwards) for the current quarter aggregating $460,800 (15 cents per share) is comparable with the same period in the prior fiscal year. The company expects to report continued sales growth and improved profitability during the fourth quarter ending July 31, 1992.
 Commercial product sales continued to grow, increasing over 100 percent to $9.6 million in the third quarter and increasing over 80 percent to $25.2 million in the first nine months of fiscal 1992. Revenues from commercial products for the nine months ended April 30, 1992, have already exceeded total commercial product revenues reported in the preceding fiscal year by $4.8 million (24 percent). This growth is attributable to revenue from sales of various products including Syntex Laboratories' drug Toradol in the company's Cartrix syringe system, the company's EpiPen auto-injector, as well as the company's patented CytoGuard Aerosol Protective Device.
 Increases in commercial product sales were offset by anticipated decreases of military auto-injectors to the U.S. Department of Defense (DoD). While the company did not expect a comparable level of military auto-injector revenue in fiscal year 1992, the heightened awareness in the United States and abroad concerning the need to maintain an appropriate level of defense against the threat of nerve gas attack has resulted in some additional orders from the United States and other allied governments. The company previously reported the receipt of an order totalling $1.1 million from the DoD for the Mark-I Antidote Kit, which consists of two injectors, the AtroPen Auto-Injector, filled with pralidoxime chloride. On April 2, 1992, the company received an additional order for Mark-I Antidote Kits from the DoD totalling $2.4 million. Deliveries under these contracts commenced in the third quarter and are scheduled to be completed by the end of the first quarter of fiscal 1993. In addition, the company received two orders during the current quarter for AtroPen auto-injectors aggregating $3.2 million from an allied foreign government. Deliveries under these contracts will be made over the first two quarters of the company's fiscal 1993.
 While margins through the first nine months of fiscal 1992 were below those experienced in prior years, margins in the current quarter improved over those reported in the first two quarters of fiscal 1992. Margin improvements are expected to continue into the fourth quarter as the major components of the company's current capital expansion program were completed during the third quarter. The company reported significantly lower levels of selling, general and administrative expense for the quarter and nine-month period ended April 30, 1992, due to management's continuing efforts to reduce overhead costs. These efforts included the disposition of the company's outpatient cardiac care business in fiscal 1991 and the relocation of the company's corporate headquarters in January 1992 which resulted in significantly lower occupancy costs in the current quarter.
 Operating results for the nine-month period ended April 30, 1992, include an extraordinary item resulting from the utilization of tax loss carryforwards totalling $36,600 (1 cent per share). During the third quarter and nine-month period ended April 30, 1991, such utilization of net operating loss carryforwards as an extraordinary item resulted in a tax benefit of $271,100 (9 cents per share) and $955,800 (32 cents per share), respectively.
 STI is now developing a family of auto-injectors to fit the expanding array of injectable drugs that demand safe and convenient patient administration. Several patents for these new systems were granted in 1992, and the company is working with a growing number of pharmaceutical companies toward their use in the delivery of a variety of drug therapies.
 STI provides medical devices and pharmaceutical services for the treatment of emergency medical problems. The company's products include automatic injectors for self-administration by military personnel of antidotes against nerve gas and commercial auto- injectors, such as the EpiPen auto-injector containing epinephrine for severe allergic reactions and the LidoPen auto-injector for treatment of cardiac arrhythmias. STI provides complete sterile parenteral contract filling and packaging services for prefilled syringes including pharmaceutical R&D.
 -0- 6/15/92
 /NOTE: Toradol, EpiPen, CytoGuard, AtroPen, ComboPen and LidoPen are registered trademarks; Cartrix is a trademark./
 /CONTACT: Jeffrey W. Church, vice president - finance, and CFO, Survival Technology, Inc., 301-926-1800/
 (STIQ) CO: Survival Technology, Inc. ST: Maryland IN: MTC SU: ERN


TW -- DC013 -- 0256 06/15/92 14:50 EDT
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Date:Jun 15, 1992
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