Printer Friendly

TUTOGEN REPORTS 1ST QTR FY 2003 REVENUES INCREASED 31%.

Tutogen Medical, Inc., (AMEX: TTG), West Paterson, N.J. has reported first quarter FY 2003 financial results.

For the three months ended December 31, 2002 revenues increased over 31% to $6.6 million from $5.0 million for the comparable period of fiscal 2001. The increase in revenue for the period was attributable to the increasing demand for the company's TUTOPLAST(R) PROCESSED sterile biological implants for spinal and dental repair. These Tutoplast(R) specialty implants, known by their trade names, Puros(TM), Symmetry(TM), and PLIF(TM) Allograft System, are distributed exclusively by the company's marketing partner CenterPulse (NYSE: CEP) through their CenterPulse Spine-Tech and CenterPulse Dental divisions. Gross margins for the quarter exceeded 50%. Cash flow was negatively impacted by the creation of additional inventory to meet increasing demand and the launch of the company's new Ligatech(TM) line of sterile biologic implant devices for use in the field of Sports Medicine.

Manfred Krueger, CEO of Tutogen commented, "We continue to see improvement in revenue growth in all of our markets. The development of our independent distributor network has begun to contribute to this improved revenue picture. We have now delivered four consecutive quarters of profitability and our current quarter is off to a good start. The recent addition of six independent distributors and the introduction of several new products should contribute to Tutogen achieving its growth targets for the current year and beyond."

Tutogen Medical, Inc. manufactures sterile biological implant products made from human (allograft) and animal (xenograft) tissue. Tutogen utilizes its Tutoplast Process (R) of tissue preservation and viral inactivation to manufacture and deliver sterile bio-implants used in spinal/trauma, urology, dental, ophthalmology, and general surgery procedures. Tutogen's products can be stored at room temperature and have a shelf life of 5 years. The company's Tutoplast(R) products are distributed worldwide by Centerpulse, (NYSE: CEP), the Mentor Corporation (NMS: MNTR), IOP, Inc. and through independent distributors and subsidiaries in the U.S. and Germany.

For more information, visit http://www.tutogen.com or call 973/785-0004.
COPYRIGHT 2003 Worldwide Videotex
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2003 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Tutogen Medical Inc.
Publication:Biotech Financial Reports
Geographic Code:1USA
Date:Apr 1, 2003
Words:340
Previous Article:DYAX REPORTS NET LOSS FOR 4TH QTR AND YEAR-END 2002.
Next Article:ADV. MED OPTICS REPORTS NET INCOME OF $8.8 MILLION FOR 4TH QTR.
Topics:


Related Articles
MARTEK HAS SALES INCREASE AND DROP IN LOSSES IN THIRD QUARTER
MARTEK NUTRIONAL PRODUCT SALES SET RECORD FOR 4TH QTR FY 99.
Regeneration Technologies, Tutogen Medical complete merger to form RTI Biologics.
Q1 revenues, income soar at RTI Biologics.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters