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Note: The PR below is from 10/8/2015
Profits are always good but the real impetus for a rise in this stock will be their IFF Mode 5 test set.
Kind regards,
Minding
============
Tel-Instrument Electronics Corp. Announces Record Second Quarter Revenues of $6.8 Million
Business Wire Tel-Instrument Electronics Corp.
October 8, 2015 5:00 PM
????
EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--
Tel-Instrument Electronics Corp. (“Tel”, “Tel-Instrument” or the “Company”) (NYSE MKT: TIK), a leading designer and manufacturer of avionics test and measurement solutions, today announced that preliminary unaudited revenues for the second quarter ending September 30, 2015 increased to a record $6.8 million, a 90% increase over the same quarter last year. Preliminary six months revenues increased to $12.7 million, representing an 89% increase over the same period last year.
Jeff O’Hara, Tel’s President and CEO noted, “Tel has done a solid job of driving revenues and profitability during the first half of this fiscal year. We have also made great strides improving our balance sheet. We continue to explore opportunities worldwide and to invest in research and development to position our products and services for future growth.”
About Tel-Instrument Electronics Corp.
Tel-Instrument is a leading designer and manufacturer of avionics test and measurement solutions for the global commercial air transport, general aviation, and government/military aerospace and defense markets. Tel-Instrument provides instruments to test, measure, calibrate, and repair a wide range of airborne navigation and communication equipment. For further information please visit our website at www.telinstrument.com.
From late September:
Frost has a long term view. It would help if he communicated more to investors.
Minding
From two August 2015 Maxim reports:
BiolineRx announced the initiation of a phase IIb study of BL-8040 in consolidation treatment (after induction, post first remission) for AML (acute myeloid leukemia). BL-8040 is also in a phase II study for relapsed/refractory AML, with top-line data expected by 4Q15.
BL-8040 is a novel peptide that induces cancer cells and stem cells to migrate out of the bone marrow. It is the subject of multiple studies including two for AML, as a stem cell mobilizer (for harvesting) and for other bone marrow failure diseases (failure to make sufficient red blood cells and platelets) is developing into a hematological platform versus a binary drug.
However, we still recognize that BL-1040 (bioabsorbable cardiac matrix, or BCM) failed its pivotal study in Europe with partner Bellerophon Therapeutics (BLPH-$4.01-NR). It is though important to note that the product has been out of the hands of BiolineRx for some time now and the company is and has been primarily focused on BL-8040, as well and other pipeline programs including BL-7010 for celiac disease.
$1.51
Valuation. Our model has been revised to exclude BL-1040. As a result our price target drops from $8.0 to $4.0 We believe that BL-8040 has potential in multiple indications with POC data in AML coming later in 2015, we remain positive that at the current valuation there is opportunity for investors.
---------------
BiolineRx reported 2Q15 with a net loss of $4.8M and finished the quarter with $55M in cash, enough to carry the company through multiple product driven catalyst events.
? BL8040 - relapsed refractory AML - Data Q4-2015
? BL-7010 - Celiac Disease: A pivotal CE Mark registration study should initiate in late 2015 / early 2016.
? BL-5010 (skin lesions) submission for CE Mark registration (out- licensed to Omega Pharma; private) is expected in 3Q15. BL-5010 could launch in early 2016. BiolineRx will retain U.S. and rest of world rights to BL-5010.
• The BL-8040 platform is continuing to expand with a phase IIb study in consolidation treatment (after induction, post first remission) for AML initiating in 2H15 as well as the initiation of a phase II study in early 2016 for stem cell mobilization for harvesting. Additionally, phase II studies of BL-8040 in bone marrow failure disease (failure to make sufficient blood cells and platelets) is expected to initiate in 2016.
• Conclusion. BiolineRx has data and catalysts on the horizon in multiple indications that should drive valuation inflection for investors.
Kind regards,
Minding
I don't expect anything meaningful to happen for another year at the earliest so there's not much to say from my perspective. As the old saw goes, when you've go nothing to say, say it.
Kind regards,
Minding
As I'm sure you realize Alan, being right here so often has not translated to even a grudging respect for your insights and conclusions. It must get tiresome but I appreciate your persistence.
Kind regards,
George
Look for the stock ... yup ... to drop because the end of the quiet period is not an opportunity to buy.
Minding
=================
Benitec Biopharma’s (BNTC) Quiet Period To Expire on September 28th
Posted by Seth Barnet on Sep 23rd, 2015 // No Comments
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Benitec Biopharma logoBenitec Biopharma’s (NASDAQ:BNTC) quiet period is set to expire on Monday, September 28th. Benitec Biopharma had issued 1,500,000 shares in its IPO on August 18th, Market Beat reports. The total size of the offering was $13,815,000 based on an initial share price of $9.21. During Benitec Biopharma’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Shares of Benitec Biopharma (NASDAQ:BNTC) traded down 10.75% during trading on Wednesday, reaching $6.56. 1,000 shares of the company’s stock were exchanged. The stock’s market capitalization is $38.01 million. The company’s 50-day moving average is $0.00 and its 200 day moving average is $0.00. Benitec Biopharma has a 52 week low of $6.55 and a 52 week high of $7.09.
Making noise.
Minding
===================
Benitec Biopharma Limited (Nasdaq: BNTC) to Ring The Nasdaq Stock Market Opening Bell
0 0 0 0 Print
September 24, 2015 10:00 ET | Source: The NASDAQ OMX Group, Inc.
ADVISORY, Sept. 24, 2015 (GLOBE NEWSWIRE) --
What:
Benitec Biopharma Ltd. (ASX:BLT) (Nasdaq:BNTC), an Australian biotechnology company engaged in the development of gene-silencing therapies for the treatment of chronic and life-threatening diseases, will visit the Nasdaq MarketSite in Times Square to celebrate its recent initial public offering (IPO).
In honor of the occasion, Peter French, Chief Executive Officer, will ring the Opening Bell.
Where:
Nasdaq MarketSite – 4 Times Square – 43rd & Broadway – Broadcast Studio
When:
Friday, September 25, 2015 – 9:15 a.m. to 9:30 a.m. ET
Benitec Biopharma Limited Media Contact:
Andrew Mielach
Tiberend Strategic Advisors, Inc.
(212) 375-2694
amielach@tiberend.com
Nasdaq MarketSite:
Hilary Edelstein
(646) 678-2321
Hilary.Edelstein@nasdaq.com
Feed Information:
Fiber Line (Encompass Waterfront): 4463
Gal 3C/06C 95.05 degrees West
18 mhz Lower
DL 3811 Vertical
FEC 3/4
SR 13.235
DR 18.295411
MOD 4:2:0
DVBS QPSK
Social Media:
For multimedia features such as exclusive content, photo postings, status updates and video of bell ceremonies please visit our Facebook page at:
http://www.facebook.com/NASDAQ.
For photos from ceremonies and events visit our Instagram Page:
http://instagram.com/nasdaq
For news tweets, please visit our Twitter page at:
http://twitter.com/nasdaq
For exciting viral content and ceremony photos visit Tumblr Page:
http://nasdaq.tumblr.com/
Webcast:
A webcast of the Nasdaq Opening Bell will be available at:
https://new.livestream.com/nasdaq/live or http://www.nasdaq.com/about/marketsitetowervideo.asx
Photos:
To obtain a hi-resolution photograph of the Market Open, please go to http://www.nasdaq.com/reference/marketsite_events.stm and click on the market open of your choice.
About Benitec Biopharma Limited (Nasdaq:BNTC):
Benitec Biopharma Limited (ASX:BLT) (NASDAQ:BNTCW) (NASDAQ:BNTC) is a clinical-stage biotechnology company developing innovative therapeutics based on its patented gene-silencing technology called ddRNAi or 'expressed RNAi'. Based in Sydney, Australia with labs in Hayward, CA (USA) and collaborators and licensees around the world, the company is developing ddRNAi-based therapeutics for chronic and life-threatening human conditions including hepatitis C and B, wet age-related macular degeneration and OPMD. Benitec has also licensed ddRNAi to other biopharmaceutical companies for applications including HIV/AIDS, Huntington's Disease, chronic neuropathic pain and retinitis pigmentosa. For further information regarding Benitec and its activities, please contact the persons below, or visit the Benitec website at www.benitec.com.
About Nasdaq:
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $9.6 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
- See more at: http://globenewswire.com/news-release/2015/09/24/770767/0/en/Benitec-Biopharma-Limited-Nasdaq-BNTC-to-Ring-The-Nasdaq-Stock-Market-Opening-Bell.html#sthash.WoAdj2yx.dpuf
While good news, it adds no value ... yet.
Tucked away.
Kind regards,
Minding
It's a long and winding road.
Kind regards,
MInding
R59 I get disillusioned easily. After holding through the recent rise, I took (minimal) profits at 11.89 on the 13th I believe.
Minding
I don't believe and have seen no evidence there is a conspiracy by anyone or corruption on anyone's part against Sigma Labs. The price and price movement reflect a straight-forward evaluation of the company and their current ability to bring in revenues. The company's time may come, but it's not now and that's what the price movement is saying.
Sigma simply requires an enormous amount of patience.
Kind regards,
Minding
BioLineRx Announces Initiation of Phase 2b Trial for Novel AML Consolidation Treatment
Mon August 17, 2015 7:00 AM|Business Wire | About: BLRX
- Phase 2b study, as consolidation treatment for AML patients responding to standard induction treatment, will enroll up to 194 patients, randomized in 1:1 ratio, at up to 25 sites in Germany -
- Study is first of three additional clinical studies for BL-8040 platform expected to commence during 2015 -
TEL AVIV, Israel--(BUSINESS WIRE)-- BioLineRx Ltd. (NASDAQ: BLRX; TASE: BLRX), a clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates, announced today the initiation of a Phase 2b trial for BL-8040 as a novel consolidation treatment for acute myeloid leukemia (AML). The Phase 2b study will examine BL-8040 as part of a second stage treatment, termed consolidation therapy, to improve outcomes for AML patients who have achieved remission after the standard initial treatment regimen, known as induction therapy. The consolidation therapy is aimed at eliminating the minimal residual disease left in the bone marrow after induction therapy that can lead to relapse. This study is the first of three clinical studies in additional indications for BL-8040 which BioLineRx (BLRX) plans to commence during 2015, thus significantly expanding its unique BL-8040 oncology platform.
Dr. Kinneret Savitsky, Chief Executive Officer of BioLineRx, stated, The majority of high-risk AML patients achieving first complete remission relapse within one year, despite the current standard consolidation therapy. Patients with AML relapse have a poor prognosis despite further therapy, and less than 10% of these patients are cured by conventional therapy. Leukemic stem cells that are dormant in the bone marrow are presumed to be a major reason for AML relapse. Based on the pre-clinical and clinical data accumulated to date, BL-8040 is anticipated to boost the efficacy of consolidation therapy due to its dual mechanism of action. Firstly, BL-8040 induces mobilization of leukemic cells from the bone marrow, which enhances the cytotoxic effects of chemotherapy, and secondly, it possesses anti-leukemic pro-apoptotic properties that help eliminate AML cells directly. Based on positive results from our ongoing phase 2 clinical trial for BL-8040, which show substantial mobilization of AML cells from the bone marrow to the peripheral blood, as well as robust induction of AML cell apoptosis, we believe BL-8040 will be a promising addition to consolidation therapy for AML patients.
Dr. Savitsky added, In addition to initiation of the Phase 2b AML consolidation study, we are eagerly looking forward to the top-line results from our ongoing Phase 2 study of BL-8040 for treating relapsed and refractory AML patients, which we expect in the fourth quarter of 2015. We also look forward to the next stages of development for BL-8040 as a novel stem cell mobilization treatment, after its recent successful completion of a Phase 1 trial. Finally, we are also excited about the anticipated initiation of clinical studies for BL-8040 in two additional indications over the next few months, thus further expanding and enhancing the potential of our oncology platform.
The Phase 2b trial, which is conducted in collaboration with the University of Halle as sponsor and with the participation of two large leukemia study groups in Germany, is a double-blind, placebo-controlled, randomized, multi-center study aimed at assessing the efficacy of BL-8040 in addition to standard consolidation therapy in AML patients. The primary endpoint of the study is to compare the relapse free survival (RFS) time in AML subjects in their first remission during a minimum follow-up time of 18 months after randomization. In addition, pharmacodynamic measurements will be conducted in order to assess the minimal residual disease, and biomarker analyses will be performed to identify predictors of BL-8040 response. The study will enroll up to 194 patients at up to 25 sites in Germany. AML patients between 18 and 75 years of age with documented first remission will be randomized in a 1:1 ratio to receive high dose Cytarabine, either with BL-8040 or with a matching placebo, as consolidation therapy.
About BL-8040
BL-8040 is a clinical-stage drug candidate for the treatment of acute myeloid leukemia, as well as other hematological indications. It is a short peptide that functions as a high-affinity antagonist for CXCR4, a chemokine receptor that is directly involved in tumor progression, angiogenesis (growth of new blood vessels in the tumor), metastasis (spread of the disease to other organs or organ parts) and cell survival. CXCR4 is over-expressed in more than 70% of human cancers and its expression often correlates with disease severity. In a Phase 1/2, open-label, dose escalation, safety and efficacy clinical trial in 18 multiple myeloma patients, BL-8040, when combined with G-CSF, demonstrated an excellent safety profile at all doses tested and was highly effective in the mobilization of hematopoietic stem cells and white blood cells from the bone marrow to the peripheral blood. Additionally, in a Phase 1 stem-cell mobilization study in healthy volunteers, BL-8040 as a single agent was safe and well tolerated at all doses tested and resulted in efficient stem-cell mobilization and collection in all study participants. Importantly, the results of this study support the use of BL-8040 as one-day, single-dose collection regimen, which is a significant improvement upon the current standard of care.
BL-8040 also mobilizes cancer cells from the bone marrow and may therefore sensitize these cells to chemo- and bio-based anti-cancer therapy. Importantly, BL-8040 has also demonstrated a direct anti-cancer effect by inducing apoptosis. Pre-clinical studies show that BL-8040 inhibits the growth of various tumor types including multiple myeloma, non-Hodgkin's lymphoma, leukemia, non-small cell lung carcinoma, neuroblastoma and melanoma. BL-8040 significantly and preferentially stimulated apoptotic cell death of malignant cells (multiple myeloma, non-Hodgkin's lymphoma and leukemia). Significant synergistic and/or additive tumor cell killing activity has been observed in-vitro and in-vivo when tumor cells were treated with BL-8040 together with Rituximab, Bortezomib, Imatinib, Cytarabine and the FLT-3 inhibitor AC-220 (in NHL, MM, CML, AML, and AML-FLT3-ITD models, respectively). In addition, the current Phase 2 clinical trial in AML patients has demonstrated robust mobilization and apoptosis of cancer cells. BL-8040 was licensed by BioLineRx from Biokine Therapeutics and was previously developed under the name BKT-140.
About Acute Myeloid Leukemia (AML)
Acute myeloid leukemia (AML) is a cancer of the blood and bone marrow and is the most common type of acute leukemia in adults. According to the American Cancer Society, approximately 19,000 new cases of AML were diagnosed in the United States in 2014, and the median age of AML patients was 67 years old. The first treatment line for patients with AML includes a combination of chemotherapy drugs and is called induction treatment. The median survival for AML patients receiving induction chemotherapy is less than two years, with shorter survival for patients over the age of 60 or for those with certain gene or chromosome aberrations. Due to relapsed or refractory disease (where the disease is not responsive to standard treatments), the overall five-year survival rate for AML is between 10 and 40 percent.
About BioLineRx
BioLineRx is a publicly-traded, clinical-stage biopharmaceutical company dedicated to identifying, in-licensing and developing promising therapeutic candidates. The Company in-licenses novel compounds primarily from academic institutions and biotech companies based in Israel, develops them through pre-clinical and/or clinical stages, and then partners with pharmaceutical companies for advanced clinical development and/or commercialization.
BioLineRxs current portfolio consists of a variety of clinical and pre-clinical projects, including: BL-8040, a cancer therapy platform, which is in the midst of a Phase 2 study for acute myeloid leukemia (AML), and has successfully completed a Phase 1 study in stem cell mobilization; BL-7010 for celiac disease, which has successfully completed a Phase 1/2 study; and BL-1040 for prevention of pathological cardiac remodeling following a myocardial infarction, which has been out-licensed to Bellerophon BCM (f/k/a Ikaria (IKAR)).
In December 2014, BioLineRx entered into a strategic collaboration with Novartis for the co-development of selected Israeli-sourced novel drug candidates. The companies intend to co-develop a number of pre-clinical and early clinical therapeutic projects through clinical proof-of-concept for potential future licensing by Novartis.
For more information on BioLineRx, please visit www.biolinerx.com or download the investor relations mobile device app, which allows users access to the Companys SEC (SCUR) documents, press releases, and events. BioLineRxs IR app is available on the iTunes App Store as well as the Google Play Store.
Various statements in this release concerning BioLineRxs future expectations, including specifically those related to the development and commercialization of BL-8040, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include words such as may, expects, anticipates, believes, and intends, and describe opinions about future events. These forward-looking statements involve known and unknown risks and uncertainties that may cause the actual results, performance or achievements of BioLineRx to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Some of these risks are: changes in relationships with collaborators; the impact of competitive products and technological changes; risks relating to the development of new products; and the ability to implement technological improvements. These and other factors are more fully discussed in the Risk Factors section of BioLineRxs most recent annual report on Form 20-F filed with the Securities and Exchange Commission on March 23, 2015. In addition, any forward-looking statements represent BioLineRxs views only as of the date of this release and should not be relied upon as representing its views as of any subsequent date. BioLineRx does not assume any obligation to update any forward-looking statements unless required by law.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150817005292r1&sid=acqr7&distro=nx&lang=en
View source version on businesswire.com: http://www.businesswire.com/news/home/20150817005292/en/
Tiberend Strategic Advisors, Inc.
Joshua Drumm, Ph.D., +1-212-375-2664
jdrumm@tiberend.com
Andrew Mielach, +1-212-375-2694
amielach@tiberend.com
or
BioLineRx Ltd.
Tsipi Haitovsky, +972-3-6240871
Public Relations
tsipihai5@gmail.com
Source: BioLineRx Ltd.
Copyright Business Wire 2015
Agree.
... and the CC is at http://novabay.com/investors/events
Minding
$59, MS is what got me looking for the explanation. I have a source of reports from a variety of sources on another (pay) forum which is where I got the link I posted.
Minding
This explains RMTI's drop today.
https://www.valueforum.com/forums/viewatt.mpl?att=1439475270MS_RockwellMedical-RMTI_SurveySaysCenteralizedDispensing_NeedForLongTermPilotStudiesHamperEarlyAdoption_8-13-15.pdf
Survey Says Centralized Dispensing, Need for Long Pilot Studies Hamper Early Adoption of Triferic: Initiating at UW
Triferic is likely to have an anemic launch. Consultants indicate 12-18 month pilot testing is needed before major dialysis clinics become early adopters, confirmed by our AlphaWise survey. Most centers have switched from jugs to central vats, making individually supplied Triferic usage cumbersome.
Kind regards,
Minding
This explains RMTI's drop today.
https://www.valueforum.com/forums/viewatt.mpl?att=1439475270MS_RockwellMedical-RMTI_SurveySaysCenteralizedDispensing_NeedForLongTermPilotStudiesHamperEarlyAdoption_8-13-15.pdf
Survey Says Centralized Dispensing, Need for Long Pilot Studies Hamper Early Adoption of Triferic: Initiating at UW
Triferic is likely to have an anemic launch. Consultants indicate 12-18 month pilot testing is needed before major dialysis clinics become early adopters, confirmed by our AlphaWise survey. Most centers have switched from jugs to central vats, making individually supplied Triferic usage cumbersome.
Kind regards,
Minding
Tel-Instrument Electronics' (TIK) CEO Jeff O'Hara on Q1 2016 Results - Earnings Call Transcript
Aug. 12, 2015 2:45 PM ET | About: Tel-Instrument Electronics Corp (TIK)
Tel-Instrument Electronics Corporation (NYSEMKT:TIK)
Q1 2016 Earnings Conference Call
August 12, 2015 09:00 AM ET
Executives
John Nesbett - IMS, Investor Relations
Jeff O’Hara - Chief Executive Officer
Joe Macaluso - Chief Financial Officer
Michael Schirmer - Chief Operating Officer
Analysts
John Harold - Harold & Associates
Katie Price - Northwest Management
Dennis Tondalo - Luparin Partners
Operator
Greetings, and welcome to the Tel-Instrument Electronics’ First Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host John Nesbett of IMS. Please go ahead, sir.
John Nesbett - IMS, Investor Relations
Good morning and welcome to our conference call to discuss Tel-Instruments’ financial results for the 2016 first quarter ended June 30, 2015. On the call today, we have Jeff O’Hara, TIK’s Chief Executive Officer who will review the results of the company’s business operations, and Joe Macaluso, who will review the company’s financials; Michael Schirmer TIK’s Chief Operating Officer will also be on the all and available to answer questions. Following their prepared remarks, we will take questions from our call participants.
Let me take a moment to read the Safe Harbor Statement. This call may include statements that are not historical in nature and maybe characterized as forward-looking statements, including those related to statements concerning the company’s outlook, pricing trends and forces within the industry to completion dates of capital projects, expected sales growth, cost reduction strategies and the results and long-term goals of the company and other statements of expectations, beliefs, future plans or strategies, anticipated events, trends, similar expressions concerning matters that are not historical facts.
All predictions as to future results contain a measure of uncertainty and accordingly actual results could differ materially. Among the factors that could cause difference or changes in general economy, changes in the demand of the company’s product or in the cost and availability of its raw materials, the actions of its competitors, the success of our customers, the uncertainty of government contracts, technological change, changes imply relations, government relations, litigation including adherent uncertainty, difficulties and plan operations and materials, transportation, environmental matters and other unforeseen circumstances.
Remember these factors are discussed in the company’s previous filings with the SEC. The company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this call.
Okay, with that out of the way, I’d now like to turn the call over to Jeff O’Hara. Go ahead, Jeff.
Jeff O’Hara - Chief Executive Officer
Thanks John. Good morning and thank you for joining us. We issued our first quarter press release earlier this morning I hope that you have had a chance to review it. I’m pleased to report the momentum we experienced in the second half of fiscal year 2015 has carried into the first quarter of 2016.
Compared to the first quarter last year, revenues increased 87% to $5.8 million and pre-tax income increased to $494,000, a $991,000 improvement versus year ago results. This turnaround result of higher revenues and diligently managing our cost and driving significant operational improvement this quarter.
SG&A and R&D cost at $1.36 million for the first quarter was slightly below year-ago levels resulting in operating cost increasing to 23% of revenues versus 44% in the year ago quarter. We expect to see continued progress going forward as we continue production on our major products as well as beginning Full Rate Production and the TS-4530A Army test set starting late this calendar year. We will also begin delivering CRAFT test sets to Lockheed Martin for the Joint Strike Fighter program in the second and third quarter of this year.
As a reminder, we currently have three major government programs and produce another 15 products that are sold at lower volume levels. The three major government programs are the CRAFT product, the portable pre-flight multipurpose testing solution for the U.S. Navy and Coast Guard, the TS-4530A, a portable preflight IFF testing solution for the U.S. Army and Air Force and the Bench Test which is maintenance shaft testing product for the U.S. Navy.
Last week we announced that we received a full rate production release for the TS-4530 sets for the U.S. Army. This is a major achievement for our company that we are poised to deliver and capitalize on. We expect deliveries to begin late in the third quarter due to product lead times in ordering, which ends on December 31, 2015.
We currently have an army backlog of 688 TS-4530A sets with the contract value of approximately $7.8 million. And we continue to actively market this test set to both domestic and foreign markets.
On last quarter’s call we discussed introduction of our new commercial product the TR-36 Communications/Navigation test set which is the initial commercial military offshoot of our CRAFT technology. We believe the products’ expanded functionality and streamlined operating system will make us competitive player in this large commercial market and present a sizeable growth opportunity.
The company is also actively working on its next generation commercial and military test set family that will be smaller and provide greater capabilities at a lower cost of production. It is expected that these products will start hitting the market in the next 18 months. We are not going to provide any more details and capabilities at this point. But we believe that the new family of test sets will substantially broaden our existing product line.
Last quarter we also announced that we engaged a new partner Blue Star Engineering & Electronics who will work on behalf of TIK in both commercial and military markets in Southeast Asia, including India and Bangladesh. We plan to proactively compete for business in this high growth region which offers a particularly significant opportunity for TIK’s TR-220 and TR-36 commercial products and our other new products under development.
It’s interesting to note that India also has the fourth largest military air force in the world. And we’re taking a look at whether some of our military products can be sold to this very important market.
I’d like to now provide a more detailed update on our three large government programs. First, let’s begin with CRAFT. The first quarter saw continued Full Rate Production for the CRAFT program. The CRAFT product replaces seven absolute Navy test sets collectively costs $300,000 making the CRAFT test set an excellent value for the government.
As of June 30, 2015, the company had open orders for 283 CRAFT test sets with a book backlog of $7.6 million. This includes approximately 20 test sets ordered by the Navy in the last quarter against existing IDIQ contract. We continue to work down the early lower price CRAFT orders and we should see our gross margins improving as the year goes on as we saw more of the higher priced relative to the lower price CRAFT units.
As an excellent value to the government, the CRAFT program has significant potential for sales into the balance of the U.S. Military, NATO and other friendly countries. For calendar year 2015 we have already received a $790,000 order from Lockheed Martin related to the Joint Strike Fighter program and expect additional orders from them this year. The Lockheed Martin should begin shipping in the second quarter of the current fiscal year.
With respect to international orders the drop-dead [ph] for decertifying Mode 4 IFF worldwide is January 1, 2020. Many of the NATO countries are struggling to meet this deadline so we anticipate the bulk of the overseas orders to take place in the 2017 to 2020 calendar year timeframe.
Tel has currently sold small quantities of Mod 5 test sets to 18 different foreign countries. So we are in a good position to capture significant share of the large overseas market. As you recall, we currently have three different Mod 5 flight-line test sets, Aeroflex has one Mod 5 flight-line test set that looks like our 4530A so we think we’re well positioned.
In addition, the FAA has also mandated ADS-B, the next generation GPS based navigation system be installed in all U.S. commercial and military aircraft by the same date. We are talking to the Navy about adding full ADS-B test capability to CRAFT test set which could also drive additional sales volume over the next several years.
Second, our TS-4530A product, as I mentioned earlier in the call, after experienced several extended delays we are very excited to receive the Full Rate Production release for the TS-4530A sets from the U.S. Army. We expect to begin deliveries late this calendar year.
As of June 30, 2015 we have a backlog of 688 TS-4530A sets, with a contract value of $7.8 million. And we are also actively marketing this test set to both domestic and foreign market. TIK did receive its first follow-on order from the U.S. Air Force for two TS-4530A test sets last week at a price of $21,500 per unit. These TS-4530A units have not been fielded in volume, so it is difficult to project how many additional TS-4530A test sets the Army and Air Force customers may need going forward.
The third program is I-TEST [ph]. We continued Full Rate Production in the new I-TEST product and have remaining book backlog of 55 units at a value of $3 million. We continue to market this unit to other domestic and international customers.
The last item which we did not cover during the last quarter’s conference call and we received several questions on concerns Aeroflex litigation. We completed most of the TIK depositions earlier this year but have some follow-up depositions that need to be taken next month.
The gist of the current Aeroflex contentions is more fully stated in the pleadings is a TIK used Aeroflex trade secret or confidential information to win the Army Award. It’s due to the fact that we had former Aeroflex employees who were familiar with the Aeroflex product working for our company. Management does not believe these claims have any merit and we are vigorously defending our position.
The trial is currently scheduled for February 2016 but we expect this date to slip at least 120 days.
I’ll now turn the call over to Joe to review the financials. Joe?
Joe Macaluso - Chief Financial Officer
Thank you, Jeff, and good morning everyone. As Jeff mentioned at the beginning of the call, we recorded revenues of $5.8 million in the first quarter, an 87% increase from the same prior quarter last year.
Gross profit increased to $1.8 million from $1.1 million in the prior year period, but as a percentage of sales decreased to the first quarter of 2015. The decrease in the gross margin percentage was due primarily to the shift in the sales mix mainly attributable to the increase in sales for the TS-4530A kits and I-TEST programs which have lower margins since these programs were competitively bid.
That said, our gross margin at 31% did improve slightly on a sequential basis relative to the fourth quarter of fiscal year 2015.
SG&A for the quarter decreased slightly compared to the prior year period. As the percentage of sales SG&A in the first quarter of 2016 was 15% compared to 28% a year ago. The decrease was primarily caused by reduced litigation expenses and professional fees offset somewhat by higher commissions and accrued bonus compensation.
R&D costs increased slightly in the first quarter to $492,000 as we began development work on our next generation of commercial and military products. As a percentage of sales, R&D cost declined to 8% of sales in the current quarter compared to 15% in the year ago quarter. It is expected that engineering expenditures will increase approximately to about 10% of sales on a go-forward basis as we work to bring these new products to market.
Net income in the first quarter was $279,000 or $0.09 per basic share and $0.02 per diluted share compared to a net loss of $384,000 or $0.12 per basic and diluted share in the first quarter last year. However, adjusted EBITDA for the quarter was $506,000 or $0.16 per share as compared to a loss of $206,000 or $0.06 per share in the first quarter last year.
Turning to the balance sheet, we continue to closely manage our cash balances as we continue to grow our business. Inventories increased to $4.5 million at the end of first quarter primarily due to shipments from one I-TEST vendor which we were contractually obligated to accept. The good news is that the deliveries for the I-TEST program from that vendor were made in August and we’ll begin working down these inventories starting this quarter. This should improve our operational cash flow and our cash position in the following months.
I’ll turn the call back to Jeff now.
Jeff O’Hara - Chief Executive Officer
Thanks Joe. And just with that, I want to clarify that one inventory question we currently have about $500,000 of excess inventory which are purchase contract required us to accept an advance. So, that will help as we have fully paid for all that inventory.
This quarter we continued to make excellent progress and achieve a second consecutive quarter of improving operating results. During the quarter, we began to capitalize our increased shipments of the TS-4530A kits. And with the recent Full Rate Production release we expect to realize increased volume later this year.
The higher price CRAFT units are also expected to contribute meaningfully throughout the rest of the year with $24.8 million in backlog and a large overseas market for Mod 5 flight-line test sets, we are confident in long-term sustained growth opportunity than our new product development and legacy programs provide. We also continue to actively work potential military opportunities.
We remain committed to investing meaningfully and product development with a goal of supplementing Aeroflex as the market leader in commercial avionics testing as we have already accomplished in our core IFF testing market. The TR-36 Navigation/Communication test set represents a significant opportunity to reenter and capitalize in the large commercial market with a highly competitive product.
As mentioned earlier, we’re also working diligently on a new family of low-weight commercial military test sets which we believe will broaden our product line and help the company achieve its long-term objective of returning to its traditional 50% gross margin performance levels.
With the return to solid profitability for the trailing 12 months, we are now in a position to more actively market the company to investor conferences. And we are working with IMS to determine which conferences provide the best return on investments. Thank you for your continued support. And we look forward to updating you next quarter.
Operator, we’ll now open the call for questions.
Question-and-Answer Session
Operator
[Operator Instructions]. Our first question today is coming from John Harold from Harold & Associates. Please proceed with your question.
John Harold - Harold & Associates
Good morning and congratulations on the turnaround, and good quarter. Listen, you surprisingly touched on the Aeroflex litigation in your opening remarks. Obviously this is really, really hurt to performance of the stock during the company’s very impressive turnaround due to the uncertainty. But the company has been a target of this frivolous litigation as I would consider it for the last six years by Aeroflex.
And earlier this year or late last year you guys said it was a top priority in 2015 to get that suit resolved. The lawsuit, in going through the court documents, I have never once seen specified specifically by the plaintiff what the damages are result of. And it has significantly prevented the stock from reaching its potential during the turnaround.
So, now that we’re several months past your statement of revolution as a top priority, where are you guys in the process? Have you maybe had any discussions with Aeroflex about them just buying out Tel-Instruments, isn’t that their ultimate goal? It seems to me that in the first place, they wanted to be able to pick up your assets on cheap when you were struggling. And now that you’re not struggling they’ll have to tie-up.
Am I way off base or there are merits to my thesis, and what about the guidance going forward EPS and revenue wise? Thank you.
Jeff O’Hara - Chief Executive Officer
Well, that’s quite the question John. I think the, the Aeroflex lawsuit is really tough for us to figure out. I think, as I said before, the gist of it is that since we had two people who knew the old product that we must have known something that helped us to win the product. And as an example, they would say, okay, you had a marketing guy working at Aeroflex and they must have known something about their pricing theories and that gave us an unfair advantage.
And it’s really biased in my mind because at the end of the day we were significantly under them on the bid price. And if we had any knowledge of their pricing, we would have come in at a $1 less. So, I think my own personal hypothesis is that it was originally filed to lead the company and interfere with the contract performance. And now it’s just kind of gotten the life of its own.
I’m not going to comment whether we’ve had any meeting with Aeroflex on it. And I can neither confirm nor deny that we’ve had meetings with Aeroflex on it. And I will say that traditionally in these kinds of situations they very rarely get to try out but there is no assurance on that. I mean, from our standpoint, we’ve done nothing wrong. And if it costs us $1 to settle, that would be a problem for us.
With respect to Aeroflex wanting to buy us, I have no idea what’s going on with the new combined COPAM Company. I think they bit-off a lot - they bit-off a very big chuck. And I don’t know what their, I have no comment about what their motivations are in this lawsuit. We just feel that we’ve got a very good case. And if it goes our way there could be benefits for us down the road. Now, when it goes our way I should say.
Now, help me out with the second question you had in terms of the guidance. So, in terms of the guidance I think with Michael Schirmer and our manufacturing improvements were very predictable company. We’ve already given you guys enough information with respect to the set production coming out. The only guidance left here is really how much our gross margin is going to improve.
And I think we’re getting to be a very predictable company and you guys can model yourself. We’ve have extensive discussions at the board and they don’t want to provide forward EPS guidance.
John Harold - Harold & Associates
Okay. Going back to the lawsuit briefly, I think that the company has the appropriate insurance to cover any losses if things go Aeroflex’s way?
Jeff O’Hara - Chief Executive Officer
No, you can never have insurance for that type of situation. I think the, I think if we thought there was a major risk, we’d be bellying up to the table. We’re very confident in our position.
John Harold - Harold & Associates
Okay. And what’s the reason for not wanting to give any EPS guidance by the board?
Jeff O’Hara - Chief Executive Officer
It’s a conservative company and it’s hard to predict in our business. We as an example you have even in the last quarter, you had DCMA that comes in, in the old days came in every week, now they’re coming in twice a month. If in the last week of the month they don’t come in you could be short $750,000, it’s just - there is just timing differences that make it a little bit troublesome for us.
I think we’re much more predictable than we were but we would like to give it another quarter to just get into a steady repeatable business.
John Harold - Harold & Associates
Well, the reason I ask is, because you guys laid out revenue guidance for this quarter and I think you beat it, and I figure that you would at least have revenue guidance for the next quarter, for Q2?
Jeff O’Hara - Chief Executive Officer
Well, I think just what we’re talking about in terms of the call and in terms of our programs that are running solidly. And we have additional JSF businesses quarter, it’s going to - it’s going to be higher than this quarter.
John Harold - Harold & Associates
Okay, great. Well, listen, I appreciate it. Thanks and good luck.
Jeff O’Hara - Chief Executive Officer
Okay, thanks John.
Operator
Thank you. [Operator Instructions]. Our next question today is coming from Katie Price from Northwest Management. Please proceed with your question.
Katie Price - Northwest Management
Hi, good morning. So, today’s call you discussed some new commercial products. And I was wondering if you’d be able to elaborate on how the commercial market figures into your current revenue breakdown?
Jeff O’Hara - Chief Executive Officer
Yes, that’s a very good question. For the last seven or eight years, this company has been focused 100% on military markets. We’ve had three major programs that have kind of consumed our business. And as a result, over the last 10 years, our company’s mix is kind of switched from 50% commercial, 50% military to kind of 90% military. And we’ve kind of seeded the commercial market to Aeroflex, we have products in the commercial market but they’re long in the tooth and not overly competitive.
We’re working very hard to come up with some exciting new products that we think beat the competition. And we think the commercial market in the next three or four years is going to be a vastly increased proportion of our business and it’s going to be profitable business.
Katie Price - Northwest Management
Great. Thank you.
Operator
Thank you. [Operator Instructions]. Our next question today is coming from Dennis Tondalo from Luparin [ph] Partners. Please proceed with your question.
Dennis Tondalo - Luparin Partners
Hi, good morning guys. Congratulations on the very nice quarter. Jeff, my question is really pretty much been answered. I know how you laid out the three programs and doing the math and as far as guidance goes. The F-35 Lockheed Martin contract, will the bulk of that be done in the second quarter or was it kind of evenly split between the second and third? How is that going to break down?
Jeff O’Hara - Chief Executive Officer
Well, in our contracts we have a FIFO these are all highly rated first-in, first-out. And these are, they have the super top priority rating for the military. So we’re obligated to finish our Navy - 25 units for the Navy before we can deliver any units to Lockheed. So, we’re actively working to complete the Navy units and then whatever we have left we can get to Lockheed. So, it’s probably going to some of them are going to slide into the third quarter.
Dennis Tondalo - Luparin Partners
Okay. But the majority will be done in the second then?
Jeff O’Hara - Chief Executive Officer
Maybe 50-50 is what Michael is nodding to me over there.
Dennis Tondalo - Luparin Partners
Okay. Well then sequentially you guys should have a very nice improvement over this particular quarter revenue wise and I would imagine income wise. And the third quarter you are on the Full Rate Production plus in Lockheed business. So, as far as I can see for the next two quarters, sequentially you’re going to get better and better each quarter?
Jeff O’Hara - Chief Executive Officer
Everyone is nodding but I was going to say no comments.
Dennis Tondalo - Luparin Partners
I appreciate it. And listen, again, thanks for all your reference and continued success.
Jeff O’Hara - Chief Executive Officer
Okay. Thank you so much.
Operator
Thank you. That does conclude today’s teleconference. We thank you for your participation today. You may disconnect your lines.
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Management put the focus on themselves with this IPO mixup, but I agree it's all about efficacy.
Minding
BW, in the for-what-it's-worth department:
I have a knowledgeable and experienced investment friend who contacted Maxim about Benitec. He wrote the following to me:
"Talked to guy at Maxim today. The BNTC deal should be done by Monday. It will most likely be priced 20 to 25% below the closing price on the ASE. I don't know if they will try to maintain the ASE price at current levels to help the buyers in the U.S. feel better. He did say that he was very impressed by their presentation. He does not have a position so he is impartial at this point. I don't know if he will be a buyer. This guy has seen lots of deals over the years and claims this is one of the most impressive med tech deals he has ever seen."
Kind regards,
Minding
Web, it looks like a different method of calculation is now being used.
"The fair value of the warrants prior to the quarter ended December 31, 2014 was calculated using the Black-Scholes valuation model."
Minding
I have a good amount of faith in my friend/mentor, but his message/opinion was totally unexpected. I'm still digesting it.
Minding
In the for-what-it's-worth department:
I have a knowledgeable and experienced investment friend who contacted Maxim. He wrote the following:
"Talked to guy at Maxim today. The BNTC deal should be done by Monday. It will most likely be priced 20 to 25% below the closing price on the ASE. I don't know if they will try to maintain the ASE price at current levels to help the buyers in the U.S. feel better. He did say that he was very impressed by their presentation. He does not have a position so he is impartial at this point. I don't know if he will be a buyer. This guy has seen lots of deals over the years and claims this is one of the most impressive med tech deals he has ever seen."
Also I need to make a correction to something I posted earlier. I said Maxim had been 'shooting itself in the foot lately'. I remembered today the firm I was thinking about was Aegis not Maxim. My apologies.
Kind regards,
Minding
I hope they don't disappoint if only because you've been a stalwart.
I wish this were about the science and the tests. That's what it should be about. Management should be practically-speaking invisible normally. But not now. Now they need to step forward. Let's see if the do.
Minding
I can't speculate Blane about management's reasoning or lack thereof. I can say this: Before now, I was neutral with them. I hadn't seen any deleterious decisions. They seemed to be on a good course. But this is a huge one-off blunder and that's one too many of this proportion.
IMO they need to do something and quickly to clarify the issue. If they do that, even if they were to take full responsibility for the blunder, it would be a worthy step.
At the moment, with so many excellent biotech opportunities out there, I've got one foot out the door.
Kind regards,
Minding
Under any circumstances having Maxim as the sole underwriter is a bad idea. Maxim has been shooting itself in the foot lately, Their reputation is sullied. In addition losing two underwriters sets a very bad stage for IPOing.
Even if test results aren't known by management and that side of the discussion is set aside, the whole thing raises questions about management, alluded to by Panno in suggesting the need for refocusing, new Board members, and a new business development team.
Management needs to come clean on this botched transaction.
Kind regards,
Minding
There is enormous potential in biotechs but they mostly require an infusion of Koolaid!
Minding
I agree. SYN is not about profits at this stage but the stage of their pipeline, approaching milestones, how long the cash will last.
Kind regards,
Minding
Here's PESI's CC:
http://seekingalpha.com/article/3421006-perma-fix-environmental-services-pesi-ceo-lou-centofanti-on-q2-2015-results-earnings-call-transcript
Kind regards,
Minding
hw, right on schedule, here's PESI's CC:
http://seekingalpha.com/article/3421006-perma-fix-environmental-services-pesi-ceo-lou-centofanti-on-q2-2015-results-earnings-call-transcript
Kind regards,
Minding
BW you may also be interested in:
https://www.themonthly.com.au/issue/2014/october/1412085600/michael-lucy/dr-graham-s-patented-elixir
This was posted by Blane on the Benitec board.
Kind regards,
Minding
Thanks for your writeup. As hweb2 wrote, KINS has been spotlighted elsewhere here but this is a good reminder to take a look. Yes, low volume; also low shares outstanding (7M) and low float (5M).
Kind regards,
Minding
CC beginning now: https://www.webcaster4.com/Webcast/ListenPage?companyId=1096&webcastId=9809
Kind regards,
Minding
Good read. Thanks Blane.
Kind regards,
Minding
Every little bit helps. Still waiting for the big contracts.
Kind regards,
Minding
=============
From
Perma-Fix Announces Radiological Waste Removal, Asbestos Abatement, Demolition and Site Restoration Contract at a Technology Facility in Knoxville
ATLANTA, GA--(Marketwired - August 10, 2015) - Perma-Fix Environmental Services, Inc. (PESI) today announced that its wholly-owned subsidiary, Safety and Ecology Corporation, has been awarded a contract valued at approximately $1 million for demolition and decommissioning services at a technology development laboratory in Knoxville, TN. The facility was an analytical and engineering laboratory that served a wide variety of government and commercial clients that is now being closed and decommissioned. Perma-Fix's scope is to support closure of the existing facility, remove any radiological materials and equipment, perform asbestos abatement and other universal and hazardous waste removal, demolish the facilities and perform site restoration activities.
Dr. Louis F. Centofanti, Chief Executive Officer, stated, "This project is an excellent opportunity for us to utilize our local resources in support of closure of the facility. We are uniquely qualified to perform this project, and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.
Through its subsidiary, Perma-Fix Medical, the company has also developed a new process to produce Technetium-99, the most widely used medical isotope in the world. The new process is expected to solve worldwide shortages of Tc-99m as it is less expensive, does not require the use of government-subsidized, weapons-grade materials and can be easily deployed around the world.
Please visit us on the World Wide Web at http://www.perma-fix.com.
This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: Perma-Fix is uniquely qualified to perform this project and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2014 Form 10-K and Form 10-Q for quarters ended March 31, 2015 and June 30, 2015. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.
Contact:
David K. Waldman
US Investor Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss
European Investor Relations
herbert@eu-ir.com
+43 316 296 316
Every little bit helps. Still waiting for the big contracts.
Kind regards,
Minding
=============
Perma-Fix Announces Radiological Waste Removal, Asbestos Abatement, Demolition and Site Restoration Contract at a Technology Facility in Knoxville
ATLANTA, GA--(Marketwired - August 10, 2015) - Perma-Fix Environmental Services, Inc. (PESI) today announced that its wholly-owned subsidiary, Safety and Ecology Corporation, has been awarded a contract valued at approximately $1 million for demolition and decommissioning services at a technology development laboratory in Knoxville, TN. The facility was an analytical and engineering laboratory that served a wide variety of government and commercial clients that is now being closed and decommissioned. Perma-Fix's scope is to support closure of the existing facility, remove any radiological materials and equipment, perform asbestos abatement and other universal and hazardous waste removal, demolish the facilities and perform site restoration activities.
Dr. Louis F. Centofanti, Chief Executive Officer, stated, "This project is an excellent opportunity for us to utilize our local resources in support of closure of the facility. We are uniquely qualified to perform this project, and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the Department of Defense ("DOD"), and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates four nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.
Through its subsidiary, Perma-Fix Medical, the company has also developed a new process to produce Technetium-99, the most widely used medical isotope in the world. The new process is expected to solve worldwide shortages of Tc-99m as it is less expensive, does not require the use of government-subsidized, weapons-grade materials and can be easily deployed around the world.
Please visit us on the World Wide Web at http://www.perma-fix.com.
This press release contains "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward-looking statements include, but are not limited to: Perma-Fix is uniquely qualified to perform this project and will provide our client with the advantage of a local waste management and technical services based company that facilitates the revitalization of prime real estate. These forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; and the "Risk Factors" discussed in, and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2014 Form 10-K and Form 10-Q for quarters ended March 31, 2015 and June 30, 2015. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward-looking statements.
Contact:
David K. Waldman
US Investor Relations
Crescendo Communications, LLC
(212) 671-1021
Herbert Strauss
European Investor Relations
herbert@eu-ir.com
+43 316 296 316
TDA could be a slacker and perhaps mine will reconvert but for the moment, BNTC is mine.
Minding
Link?
Not on Yahoo, TDA, Fidelity, or Benitec website.
I posted just now in the COCP board (http://investorshub.advfn.com/boards/read_msg.aspx?message_id=115999993) and would like to extend that post into a discussion about Frost's possible moves. In addition to COCP, three of Frost's stocks intrigue me: MBVX, SVACF, and SVON.
Cocrystal (COCP): High-mutating viral diseases and small-molecule antiviral drugs
Mabvax (MBVX): Cancer and human antibody-based products
SciVac (SVACF): Infectious and immune diseases and recombinant biological products
Sevion (SVON): Cancer and immunological diseases and antibody technology platforms
And of course the Frost marketing arm, OPK.
Does anyone have thoughts about combining vs not combining companies?
Kind regards,
Minding