Printer Friendly

THERAGENICS ANNOUNCES THIRD QUARTER RESULTS

 ATLANTA, Nov. 2 /PRNewswire/ -- Theragenics Corp. (NASDAQ: THRX), an Atlanta-based cancer therapy company, announced today that, for the third quarter ended Sept. 30, 1993, it achieved a net profit of $51,000, or $.00 per share, compared to a net profit of $245,000, or $.02 per share before extraordinary items, compiled in the same quarter last year. After an extraordinary adjustment for tax loss carryforward, 1992 third quarter profit was $374,000 or $.03 per share.
 Theragenics' revenues for the third quarter of 1993 were $970,000, compared to $1,045,000 achieved during the same period last year.
 For the first nine months ended Sept. 30, 1993, before extraordinary credits and adjustments for changes in accounting practice, Theragenics had a net profit of $384,000, or $.03 per share compared to a net profit of $806,000, or $.07 per share, for the first nine months of 1992. The company's net profit for the first nine months of 1993 was $3,244,000, or $.28 per share, compared to a net profit of $1,253,000, or $.11 per share, for the same period in 1992.
 The company's revenues for the first nine months of fiscal 1993 were $3,308,000, compared to the $3,407,000 in revenues compiled for the same period last year.
 Chief Executive Officer Christine Jacobs said that continuing technical start-up problems with the new cyclotron, resulting in limited product availability, reacted negatively on revenues and profits. The lack of available internally generated product and reliable backup sources tempered the company's aggressive push for new sales and customers.
 Ms. Jacobs indicated that the cyclotron is presently operating to specifications and without problems. Additionally, production schedules are back on line. Assuming the cyclotron continues to function properly, the company anticipates increasing its sales efforts and is confident of its ability to substantially increase revenues and profits over the next few quarters.
 Theragenics manufactures and markets TheraSeed, a nonsurgical, outpatient treatment which uses implanted Palladium-103 seeds to eradicate prostate cancer.
 THERAGENICS CORPORATION
 Consolidated Statement of Operations
 (Unaudited)
 Three Months Ended Sept. 30 1993 1992
 Revenues $970,036 $1,044,588
 Net profit before extraordinary items 51,132 244,748
 Extraordinary credit for tax loss
 carryforward -- 129,000
 Net profit after extraordinary items 51,132 373,748
 Earnings per common share before
 extraordinary items .00 .02
 Extraordinary item -- .01
 Earnings per common share after
 extraordinary items .00 .03
 Weighted average shares 11,694,486 11,092,715
 THERAGENICS CORPORATION
 Consolidated Statement of Operations
 (Unaudited)
 Nine Months Ended Sept. 30 1993 1992
 Revenues $3,307,605 $3,406,876
 Net earnings before extraordinary
 items and changes in acctg. principle 383,728 806,376
 Extraordinary credit for tax loss
 carryforward -- 447,000
 Cumulative effect on prior years of
 change in method of accounting for
 income taxes 2,860,000 --
 Net earnings after extraordinary
 items & changes in acctg. principle 3,243,728 1,253,376
 Earnings per common share before
 extraordinary items & changes in
 accounting principle .03 .07
 Extraordinary items -- .04
 Changes in accounting principle .25 --
 Earnings per common share after
 extraordinary items & changes in
 accounting principle .28 .11
 Weighted average shares 11,732,256 11,117,179
 -0- 11/2/93
 /CONTACT: Bruce W. Smith of Theragenics Corp., 404-381-8338, or Rick Eisenberg of Eisenberg Communications, 212-496-6828/
 (THRX)


CO: Theragenics Corp. ST: Georgia IN: MTC SU: ERN

PS -- NY010 -- 9487 11/02/93 08:30 EST
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:Nov 2, 1993
Words:567
Previous Article:HARPER GROUP RELEASES THIRD QUARTER EARNINGS
Next Article:HOLOPAK TECHNOLOGIES, INC. ANNOUNCES 302 PERCENT INCREASE IN NET INCOME ON 80 PERCENT INCREASE IN SALES
Topics:

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