Printer Friendly

SYSTEMIX REPORTS SECOND QUARTER AND SIX MONTHS RESULTS

 PALO ALTO, Calif., Aug. 12 /PRNewswire/ -- SyStemix, Inc. (NASDAQ-NMS: STMX) today reported its financial results for the second quarter ended June 30, 1993. Revenues totaled $1.41 million compared to $131,000 for the same period in 1992. Net loss was $3.81 million or $.39 per share, versus a loss of $1.20 million or $.12 per share in 1992.
 For the six months ending June 30, 1993, SyStemix incurred a net loss of $6.53 million or $0.67 per share, versus a loss of $15.89 million or $1.75 per share in 1992. In 1992, the net loss of $15.89 million included a one time special charge of $12.2 million relating to the Sandoz acquisition.
 "Our financial results continue to be within our expectations," and Linda Sonntag, Ph.D., president and chief executive officer. "Total research and development expenses doubled, reflecting our continued commitment to advancing our scientific efforts towards our clinical goals."
 SyStemix, Inc. is primarily engaged in the development of cellular processes and cellular products based on human hematopoietic stem cell and human megakaryocyte progenitors.
 SYSTEMIX, INC.
 Selected Financial Highlights
 (in thousands, except per share data -- unaudited)
 Statement of Operations Data
 Periods ended Three months Six months
 June 30 1993 1992 1993 1992
 Total revenues $1,412 $ 131 $2,808 $ 207
 Expenses:
 Total R&D 4,852 2,804 9,014 4,465
 G&A 2,142 1,127 3,972 2,379
 Special charge related to
 Sandoz acquisition -- -- -- 12,175
 Total operating expense 6,994 3,481 12,986 19,019
 Loss from operations $(5,582) $(3,300) $(10,178) $(18,812)
 Net loss $(3,810) $(1,205) $ (6,535) $(15,889)
 Net loss per share $ (0.39) $ (0.12) $ (0.67) $ (1.75)
 Shares used in computing
 net loss per share 9,732 9,668 9,730 9,071
 -0- 8/12/93
 /CONTACT: Susan Gilbert, vice president and CFO of SyStemix, Inc., 415-856-4901; or Rhonda Chiger of Noonan/Russo Communications, Inc., 212-696-4455/
 (STMX)


CO: SyStemix, Inc. ST: California IN: MTC SU: ERN

TS-SH -- NY004 -- 2021 08/12/93 09:31 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 12, 1993
Words:352
Previous Article:HERTZ NAMES CRAIG R. KOCH PRESIDENT AND COO; JOSEPH R. NOTHWANG TO U.S. RENT A CAR VP AND GENERAL MANAGER
Next Article:ELECTROCHEMICAL INDUSTRIES (FRUTAROM) LTD. REPORTS SIX-MONTH RESULTS FOR 1993
Topics:

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