Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
OISI, good numbers here without the FDA Approval news
OISI S/S & financials from 10Q:
As of September 30, 2009:
Cash and cash equivalents $4,811,027
Total current assets 8,564,468
Total assets $10,886,902
Total current liabilities 3,960,308
Total liabilities 5,478,591
Sales, Three months ended September 30, $2,765,878
Net income (loss) $ 85,656
Net increase (decrease) in cash and equivalents 2,586,402
Cash and equivalents, beginning of the period 2,224,625
Cash and equivalents, end of the period $ 4,811,027
As of November 16, 2009, 26,500,059 shares of common stock, no par value, were outstanding.
Common stock, no par value, 35,000,000 shares authorized;
Hello everyone. I can see it's a crowded house. Excuse me I'll just sitdown in the corner over here.
Ophthalmic Imaging Systems Announces First Quarter 2009 Results
May 15, 2009 6:30:00 PM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesSACRAMENTO, Calif.--(BUSINESS WIRE)-- Ophthalmic Imaging Systems (OIS) (OTCBB: OISI), a leading digital imaging company, today reported its financial results for the first quarter ended March 31, 2009 and announced recent corporate developments.
For the three months ended March 31, 2009, OIS reported net revenues of $2.4 million, compared with net revenues of $3.1 million for the same period in 2008. The decrease in revenues between the quarters is due to a decrease of product sales in the three months ended March 31, 2009 of approximately $835,000, which was offset by an increase in service revenue of approximately $97,000.
Operating expenses for the three months ended March 31, 2009 were $2.4 million compared to $1.9 million for the same period last year. The increase in operating expenses for the first quarter of fiscal 2009 is mostly attributable to the approximately $500,000 in research and development ("R&D") costs for Abraxas and OIS, $300,000 of which are expenses and $200,000 is attributed to amortization. In the first quarter of 2008, Abraxas had $230,000 of R&D costs that were treated as an asset and not expensed because of accounting rules. Beginning in the first quarter of 2009, the Company began selling these solutions and, as a result, started to expense these costs. In addition, starting January 1, 2009, OIS started to amortize R&D costs for Abraxas & OIS that had been previously capitalized.
Net loss for the quarter ended March 31, 2009 was $(1.1) million, or $(0.07) per basic and diluted share, compared with net loss of $(0.3) million, or $(0.02) per basic and diluted share, respectively, for the same period in 2008. In order to offset the decline in sales, management has implemented certain cost cutting initiatives that will be recognized in the first and second quarters of 2009 through headcount reductions, streamlining R&D efforts and reducing other operating costs. These cost cutting measures were offset in the first quarter by activities for the company's Abraxas subsidiary during the period and amortization of R&D costs.
As of March 31, 2009, the Company reported $1.1 million in cash and cash equivalents and $5.3 million in total shareholders' equity.
"Our financial results for the quarter were negatively impacted by the global recession and personnel changes in our sales and marketing departments. While we are disappointed by our sales for the quarter, we are confident that demand for our ophthalmic WinStation digital imaging systems and Symphony Image Management systems are being suppressed by the recession, and that sales will increase once the economy recovers. In the meantime, we will continue to monitor operating costs and try to capitalize on changes in the ophthalmic market as quickly as possible," stated Gil Allon, Chief Executive Officer of OIS.
"Over the next year we expect to start seeing sales ramp up for our Electronic Medical Records (EMR) and Practice Management (PM) solutions, which were launched in October 2008. These solutions include OIS branded EMR and PM solutions for ophthalmologists and Abraxas' EMR and PM solutions for health professionals specializing in the OB/GYN, Orthopedic and Primary Care. By adding these solutions to our product line we not only diversify our business from digital imaging, but we also are expanding our reach beyond ophthalmology and are entering several new healthcare fields," concluded Mr. Allon.
About Ophthalmic Imaging Systems
Ophthalmic Imaging Systems (www.oisi.com), a majority-owned subsidiary of MediVision, is the leading provider of ophthalmic digital imaging systems. The Company designs, develops, manufactures and markets digital imaging systems and informatics solutions for the eye care market. With over twenty years in the ophthalmic imaging business, the Company has consistently introduced new, innovative technology. Through OIS' wholly-owned subsidiary, Abraxas Medical Solutions, the company provides Electronic Medical Records and Practice Management software to Ophthalmology as well as OB/GYN, Orthopedic and Primary care. The Company, together with MediVision, co-markets and supports our products through an extensive network of dealers, distributors, and direct representatives.
OIS is a registered member Company listed on www.OTCVillage.com.
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties, or other factors not under the Company's control, which may cause actual results, performance, or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.
Ophthalmic Imaging Systems
Selected Financial Data
Condensed Consolidated Statements of Operations
Three Months Ended
March 31,
2009 2008
NET REVENUES $ 2,409,531 $ 3,147,692
COST OF SALES $ 1,084,996 $ 1,543,832
GROSS PROFIT $ 1,324,535 $ 1,603,860
SALES AND MARKETING $ 904,156 $ 944,009
RESEARCH AND DEVELOPMENT $ 971,242 $ 436,977
GENERAL AND ADMINISTRATIVE $ 511,023 $ 523,016
TOTAL OPERATING EXPENSES $ 2,386,421 $ 1,904,002
LOSS FROM OPERATIONS $ (1,061,886 ) $ (300,142 )
INTEREST AND OTHER EXPENSE, NET $ (43,910 ) $ (33,223 )
NET LOSS BEFORE INCOME TAXES $ (1,105,796 ) $ (333,365 )
INCOME TAX EXPENSE $ (2,153 ) $ (1,286 )
NET LOSS $ (1,107,949 ) $ (334,651 )
BASIC AND DILUTED NET LOSS PER SHARE $ (0.07 ) $ (0.02 )
SHARES USED IN THE CALCULATION OF BASIC AND 16,866,831 16,866,831
DILUTED NET LOSS PER SHARE
Source: Ophthalmic Imaging Systems
----------------------------------------------
Ophthalmic Imaging Systems
Gil Allon
CEO
or Ariel Shenhar
CFO
916-646-2020
Investor Relations
or
KCSA Strategic Communications
Todd Fromer
212-896-1215
Garth Russell
212-896-1250
Followers
|
3
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
56
|
Created
|
10/18/08
|
Type
|
Free
|
Moderators |
Updating soon.
http://twitter.com/mrgreenpenny
Email: mrgreenpenny@yahoo.com
OISI
Ophthalmic Imaging Systems
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |