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out 2150 xnn @ 1.95 from 1.95.. 2900 to go .. was up huge yesterday... this sux
cvv up 1.17.... xnn down .40 .. ouch.. should have sold some yesterday
my original plan was to sell 4081 @ 2.45 and let 961 ride... got greedy
wow does it suck having your cash all tied up lol em
watch EYII.. i may enter if doesn't pop too much at open em
Zynex Has 75.1% Increase in Revenues, Acceleration in Profits in 2nd Quarter Ended June 30, 2005
Friday August 12, 8:37 am ET
LITTLETON, Colo.--(BUSINESS WIRE)--Aug. 12, 2005--Zynex Medical Holdings, Inc. (OTCBB: ZYNX - News), a provider of pain management systems and electrotherapy products for medical patients with functional disability, today announced financial results for the second quarter ended June 30, 2005, which included a significant increase in revenues compared to the same quarter in 2004 and the second consecutive quarter of profitability.
ADVERTISEMENT
For the three months ended June 30, 2005, net revenues from sales and rental of products increased 75.1% to $589,483, compared with $336,705 in the second quarter of 2004. Net income rose to $75,416, or $0.00 per share, compared with a net loss of ($188,129), or ($0.01) per share, in the corresponding period a year ago. Gross Profit Margin increased to 87.6% compared with 83.8%. Diluted weighted average shares outstanding used in computing per share amounts in both periods were 23,237,948 and 22,521,945, respectively.
For the six months ended June 30, 2005, net revenues from sales and rental of products increased 89.2% to $1,134,426, compared with $599,596 in the corresponding period of 2004. Net income was $131,496, or $0.01 per share, compared with a net loss of ($368,746), or ($0.01) per share, in the first half of 2004. Gross Profit Margin increased to 85.9% from 83.2%. Diluted weighted average shares outstanding used in computing per share amounts in both periods were 23,230.567 and 22,360,430 respectively.
"The investments that we made in product marketing in 2004 contributed to a further increase in revenues and accelerating profits in this our second consecutive quarter of profitability," stated Zynex President and Chief Executive Officer Thomas Sandgaard. "Our increased marketing and sales staff are continuing to devote considerable effort to raising awareness among end users and physicians about the positive role that our NeuroMove(TM) Stroke Recovery System can play in the rehabilitation process."
The NeuroMove(TM) system increases the functionality of many stroke victims by teaching the healthy parts of the brain to compensate for damaged areas. The NeuroMove(TM), which is more sensitive than most diagnostic equipment, monitors muscle activity and selects signals from the brain indicating that the patient is attempting to move a certain muscle. It then introduces the actual movement through electrical stimulation. Eventually the connection between the brain and muscle can often be reestablished. The NeuroMove(TM) (www.neuromove.com) also can be used to treat spinal cord injuries.
About Zynex
Zynex Medical Holdings, Inc., (www.zynexmed.com), a leading provider of therapeutic devices for patients with functional disability through the creation, distribution, and marketing of electrotherapy devices since 1996, strives to uphold its mission to improve the quality of life of patients suffering from debilitating pain or illness by providing innovative technology. Utilizing a unique combination of electromyographic (EMG) technology combined with a system of instruction and reinforcement, including electrical muscle stimulation (EMS), Zynex offers new treatment options to post-stroke and spinal injury patients.
Safe Harbor Provision
Certain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the need to obtain additional capital in order to grow its business, larger competitors with greater financial resources, the need to keep pace with technological changes, dependence on reimbursement from insurance companies for products sold or rented to customers, dependence on third party manufacturers to produce the Company's products, the acceptance of its products by hospitals and clinicians and other risks described in the Company's 10-K Report for the year ended December 31, 2004.
Consolidated Statement of Operations
3 Mos. Ended June 30, 6 Mos. Ended June 30,
2005 2004 2005 2004
----------- ----------- ---------- -----------
Net Sales & Rental
income $ 589,483 $ 336,705 $1,134,426 $ 599,596
Net Income (Loss) $ 75,416 $ (188,129)$ 131,496 $ (368,746)
Net Income (Loss) per
Common Diluted Share $ 0.00 $ (0.01) $0.01 $ (0.02)
Common Shares Used in
Computing Per Share
Amounts--Diluted 23,237,948 22,521,945 23,230,567 22,360,430
--------------------------------------------------------------------------------
Contact:
Zynex Medical Holdings, Inc.
Thomas Sandgaard, 303-707-0203
or
The Wall Street Group, Inc.
Ron Stabiner, 212-888-4848
--------------------------------------------------------------------------------
Source: Zynex Medical Holdings, Inc.
EYI Industries Enters Letter of Intent Worth an Estimated US$210 Million
Thursday August 11, 4:57 pm ET
BURNABY, British Columbia, Aug. 11, 2005 (PRIMEZONE) -- EYI Industries Inc. (``EYI'') (OTC BB:EYII.OB - News) (http://www.EYIcom.com), a marketer of products that promote well-being and a healthy lifestyle, is pleased to announce that it has entered into a Letter of Intent (``LOI'') for the sale of an undisclosed number of Patented Code Blue(tm) filtration systems over a 2-year period with the Guangzhou CEIEC Enterprise (GROUP) CO. LTD. (``Guangzhou CEIEC''), a subsidiary of The China National Electronics Import & Export Corporation (``CEIEC'').
ADVERTISEMENT
The CEIEC, located in South China, is the largest exporter and importer of electronic products in China and was the first Chinese enterprise to establish sales and cooperative relations with foreign brand name enterprises such as Hitachi, Sharp, Mitsubishi, Panasonic, Siemens, Casio, Phillips, Hewlett-Packard, LG and Samsung. Currently, the CEIEC is under the direction of the Chinese government and has extensive business relations with nearly 100 countries and regions and imports/exports over US$1 Billion in products every year.
The Code Blue(tm) portable water filtration system removes Arsenic and other contaminates to a negligible level from drinking water. China's large rural population and poor infrastructure in those outlying regions have created a huge demand for the Code Blue(tm) system which will facilitate the removal of harmful toxins from water, making it safe for human consumption.
Under the terms of the agreement, Guangzhou CEIEC will acquire agency rights from EYI Industries to distribute the Code Blue(tm) filtration system throughout China, and will commit to the purchase of US$210 Million worth of product as per the following schedule:
Fiscal 2006 (US$42,000,000)
Q1 = $700,000
Q2 = $2,800,000
Q3 = $14,000,000
Q4 = $24,500,000
Fiscal 2007 (US$168,000,000)
Q1 = $31,500,000
Q2 = $38,500,000
Q3 = $45,500,000
Q4 = $52,500,000
EYI Industries Chief Operating Officer, Dori O'Neill stated, ``Gaining access to China, the fastest growing global economy and largest consumer market through a reputable partner such as Guangzhou CEIEC Enterprise Group, is a huge milestone for EYI Industries.'' Mr. O'Neill went on to say, ``An order of this magnitude will certainly generate a great deal of shareholder value and may be just the first in a number of orders from China as the Code Blue(tm) filtration system is a cost effective solution to a very serious issue affecting millions in the Chinese population.''
About EYI
EYI Industries Inc., through our subsidiary Essentially Yours Industries, Inc. (EYI), markets products that promote health and well-being. Recently, EYI launched a consumer product that removes Arsenic and other contaminates to a negligible level from drinking water. The portable water filtration product's name is Code Blue(TM) and is exclusively provided to EYI. In addition, EYI sells dietary supplements and personal care products. A large portion of our sales are from CALORAD(R), a liquid protein supplement that has brought weight loss benefits to our customers. More than six million bottles of CALORAD(R) have been sold since EYI was founded in 1995. Our newest product, PROSOTEINE, is experiencing similar success to CALORAD(R) and bringing our customers the benefits of a natural Energy drink.
EYI markets its products through an extensive network of Independent Business Associates. Our sales force is staffed by knowledgeable, experienced men and women and supported by our comprehensive training programs.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
EYI Industries Inc. (OTC BB:EYII.OB - News)
Contact:
EYI Industries Inc.
Jennifer Trevitt
Investor Relations
(604) 759-5031
jennifer@eyi.us
looks like the street isn't happy with 0.00 net income (i was expecting .03-.04 ) em
Market Pulse: Altair Nanotechnologies surges as revenue jumps 226%
Friday August 12, 8:02 am ET
By John Ittner
NEW YORK (MarketWatch) - Altair Nanotechnologies' [ s: alti] shares rose 8.2% to $3.29 in pre-market action on Instinet early Friday after reporting that second-quarter revenue grew 226% to $530,000. The company said it lost $1.9 million, or 3 cents a share for the quarter. In the year-ago period the company lost $2.2 million, or 4 cents. Altair also received an order for 2,200 pound order for lithium titanate spinel electrode nanomaterials from Advanced Battery Technologies Inc. Altair makes advanced ceramic nanomaterial technology products.
xnn, upbeat about future, both working capital and shareholders equity increased
Xenonics Reports Fiscal 2005 Third Quarter and Nine Months Results
Friday August 12, 7:30 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 12, 2005--XENONICS HOLDINGS, INC. (AMEX:XNN - News) today announced financial results for the third quarter and first nine months of fiscal 2005.
ADVERTISEMENT
"Xenonics' third quarter financial performance showed substantial improvement over results for the year's first half, but that is only part of the story as we position Xenonics for sustained growth and profitability that will drive shareholder value in the long term. Based on our progress, we currently expect our financial results for the fourth quarter of fiscal 2005 to exceed last year's fourth quarter results, and we are increasingly optimistic about the outlook for fiscal 2006," said Chief Executive Officer Dick Naughton.
"During the quarter we made further headway with key decision-makers toward our goals of establishing our ultra-high intensity NightHunter systems as the illumination products of choice and a permanent part of our military arsenal, goals that we believe are within reach," Naughton said.
"New products are another important element of our strategy. On this front, we have contracted with suppliers for our unique digital low-light viewing system, and we expect to have the first manufacturing prototypes available in the next several weeks. Interest among potential customers in this new product is running high in anticipation of its launch later this year, and we believe it has the potential to become a major contributor to our growth," Naughton concluded.
Third Quarter and Nine Month Financial Results
For the three months ended June 30, 2005, revenue was $3,075,000 compared to $4,119,000 for the third quarter of fiscal 2004. Net income for this year's third quarter was $23,000, or $0.00 per share. This compares to net income of $796,000, or $0.05 per diluted share, for the same period of fiscal 2005.
For the nine months ended June 30, 2005, revenue was $3,905,000. This compares to revenue of $10,984,000 for the first nine months of fiscal 2004. The net loss for this year's first nine months was $1,806,000, or $0.12 per share. This compares to net income for the same period of the prior year of $2,054,000, or $0.12 per diluted share.
Working capital at June 30, 2005 increased to $4,616,000 from $3,014,000 at September 30, 2004. Shareholders' equity increased to $4,659,000 at June 30, 2005 versus $3,073,000 at September 30, 2004.
Conference Call
Xenonics has scheduled a conference call today at 11:00 a.m. EDT. A simultaneous webcast can be accessed from www.fulldisclosure.com/company.asp?client=cb&ticker=xnn#. A replay will be available after 1:00 p.m. EDT at this same Internet address. For a telephone replay, dial (800) 633-8284, reservation #21257155, after 1:00 p.m. EDT.
About Xenonics
Xenonics develops and produces advanced, lightweight and compact ultra-high intensity lighting products for military, law enforcement, public safety, and commercial and private sector applications. Currently, NightHunters are in use by every branch of the U.S. Armed Forces as well as a wide variety of law enforcement and security agencies. Using its breakthrough patented technology, Xenonics provides innovative solutions for customers that demand the ability to see farther so that they can do their job better and safer. Xenonics' products deliver a quantum leap in performance over other illumination technologies and represent the next generation in small, high intensity, high efficiency lighting systems. Visit Xenonics on the web at www.xenonics.com.
Forward-Looking Statements
Except for the historical statements and discussions above, our statements above constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our management's current views with respect to future events and financial performance; however, you should not put undue reliance on these statements. Factors that could cause these forward-looking statements to differ include delays in development, marketing or sales of new products. When used, the words "anticipates," "believes," "expects," "intends," "future," and other similar expressions identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. We believe our management's assumptions are reasonable, nonetheless, it is likely that at least some of these assumptions will not come true. Accordingly, our actual results will probably differ from the outcomes contained in any forward-looking statement, and those differences could be material. Factors that could cause or contribute to these differences include, among others, those risks and uncertainties discussed in our periodic reports on Form 10-KSB and 10-QSB and our other filings with the Securities and Exchange Commission. Should one or more of the risks discussed , or any other risks, materialize, or should one or more of our underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, expected or projected. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements.
XENONICS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three months Nine months
ended ended
June 30, June 30,
--------------- -----------------
$ in thousands, except share amounts 2005 2004 2005 2004
------- ------- -------- --------
Revenue $3,075 $4,119 $3,905 $10,984
Cost of goods sold 1,712 2,310 2,198 6,385
------- ------- -------- --------
Gross profit 1,363 1,809 1,707 4,599
------- ------- -------- --------
Selling, general and administrative 1,277 882 3,248 2,206
Engineering, research and development 111 45 335 120
------- ------- -------- --------
(Loss) income from operations (25) 882 (1,876) 2,273
Other income/(expense), net:
Interest income 3 6 16 7
Interest expense (7) (2) (8) (30)
Other income 2 -- 3 --
------- ------- -------- --------
(Loss) income before provision for
income taxes (27) 886 (1,865) 2,250
Income tax (benefit) provision (57) 90 (56) 196
------- ------- -------- --------
Net income (loss) before minority
interest 30 796 (1,809) 2,054
Minority interest 7 -- (3) --
------- ------- -------- --------
Net income (loss) $23 $796 $(1,806) $2,054
======= ======= ======== ========
Net income (loss) per share:
Basic $0.00 $0.06 $(0.12) $0.15
Diluted $0.00 $0.05 $(0.12) $0.12
======= ======= ======== ========
Weighted average shares outstanding
Basic 15,191 14,080 14,742 13,285
Diluted 17,706 17,246 14,742 16,826
======= ======= ======== ========
XENONICS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
$ in thousands, except share amounts
Jun. 30, Sep. 30,
Assets 2005 2004
----------- ---------
(unaudited)
Current assets:
Cash $1,166 $3,269
Accounts receivable, net 2,951 253
Inventories, net 3,205 922
Other current assets 209 189
----------- ---------
Total Current Assets 7,531 4,633
----------- ---------
Equipment, furniture and fixtures, net of
depreciation 49 35
Other non-current assets 25 24
----------- ---------
Total Assets $7,605 $4,692
=========== =========
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $1,495 $1,126
Due to factor 1,305 --
Accrued royalty -- 400
Accrued payroll and related taxes 105 93
Other current liabilities 10 --
----------- ---------
Total Current Liabilities 2,915 1,619
----------- ---------
Commitments and contingencies (Note 13)
Minority interest 31 --
Shareholders' equity:
Preferred shares, $0.001 par value, 5,000,000
shares authorized, 0 shares issued and
outstanding -- --
Common shares, $0.001 par value, 50,000,000
and 20,000,000 shares authorized as of 2005
and 2004, respectively; 15,511,878 shares
issued and 14,161,878 issued and outstanding
in 2005 and 2004, respectively 16 14
Additional paid-in capital 13,930 10,540
Accumulated deficit (9,287) (7,481)
Total Shareholders' Equity 4,659 3,073
----------- ---------
Total Liabilities and Shareholders' Equity $7,605 $4,692
=========== =========
--------------------------------------------------------------------------------
Contact:
Xenonics Holdings, Inc.
Richard Naughton, 760-438-4004
xenonics@xenonics.com
or
Investor Contact:
Berkman Associates
310-277-5162
info@BerkmanAssociates.com
--------------------------------------------------------------------------------
Source: Xenonics Holdings, Inc.
xnn..upbeat about the future, working capital and shareholders equity increased..
Xenonics Reports Fiscal 2005 Third Quarter and Nine Months Results
Friday August 12, 7:30 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 12, 2005--XENONICS HOLDINGS, INC. (AMEX:XNN - News) today announced financial results for the third quarter and first nine months of fiscal 2005.
ADVERTISEMENT
"Xenonics' third quarter financial performance showed substantial improvement over results for the year's first half, but that is only part of the story as we position Xenonics for sustained growth and profitability that will drive shareholder value in the long term. Based on our progress, we currently expect our financial results for the fourth quarter of fiscal 2005 to exceed last year's fourth quarter results, and we are increasingly optimistic about the outlook for fiscal 2006," said Chief Executive Officer Dick Naughton.
"During the quarter we made further headway with key decision-makers toward our goals of establishing our ultra-high intensity NightHunter systems as the illumination products of choice and a permanent part of our military arsenal, goals that we believe are within reach," Naughton said.
"New products are another important element of our strategy. On this front, we have contracted with suppliers for our unique digital low-light viewing system, and we expect to have the first manufacturing prototypes available in the next several weeks. Interest among potential customers in this new product is running high in anticipation of its launch later this year, and we believe it has the potential to become a major contributor to our growth," Naughton concluded.
Third Quarter and Nine Month Financial Results
For the three months ended June 30, 2005, revenue was $3,075,000 compared to $4,119,000 for the third quarter of fiscal 2004. Net income for this year's third quarter was $23,000, or $0.00 per share. This compares to net income of $796,000, or $0.05 per diluted share, for the same period of fiscal 2005.
For the nine months ended June 30, 2005, revenue was $3,905,000. This compares to revenue of $10,984,000 for the first nine months of fiscal 2004. The net loss for this year's first nine months was $1,806,000, or $0.12 per share. This compares to net income for the same period of the prior year of $2,054,000, or $0.12 per diluted share.
Working capital at June 30, 2005 increased to $4,616,000 from $3,014,000 at September 30, 2004. Shareholders' equity increased to $4,659,000 at June 30, 2005 versus $3,073,000 at September 30, 2004.
Conference Call
Xenonics has scheduled a conference call today at 11:00 a.m. EDT. A simultaneous webcast can be accessed from www.fulldisclosure.com/company.asp?client=cb&ticker=xnn#. A replay will be available after 1:00 p.m. EDT at this same Internet address. For a telephone replay, dial (800) 633-8284, reservation #21257155, after 1:00 p.m. EDT.
About Xenonics
Xenonics develops and produces advanced, lightweight and compact ultra-high intensity lighting products for military, law enforcement, public safety, and commercial and private sector applications. Currently, NightHunters are in use by every branch of the U.S. Armed Forces as well as a wide variety of law enforcement and security agencies. Using its breakthrough patented technology, Xenonics provides innovative solutions for customers that demand the ability to see farther so that they can do their job better and safer. Xenonics' products deliver a quantum leap in performance over other illumination technologies and represent the next generation in small, high intensity, high efficiency lighting systems. Visit Xenonics on the web at www.xenonics.com.
Forward-Looking Statements
Except for the historical statements and discussions above, our statements above constitute forward-looking statements within the meaning of section 21E of the Securities Exchange Act of 1934. These forward-looking statements reflect our management's current views with respect to future events and financial performance; however, you should not put undue reliance on these statements. Factors that could cause these forward-looking statements to differ include delays in development, marketing or sales of new products. When used, the words "anticipates," "believes," "expects," "intends," "future," and other similar expressions identify forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties. We believe our management's assumptions are reasonable, nonetheless, it is likely that at least some of these assumptions will not come true. Accordingly, our actual results will probably differ from the outcomes contained in any forward-looking statement, and those differences could be material. Factors that could cause or contribute to these differences include, among others, those risks and uncertainties discussed in our periodic reports on Form 10-KSB and 10-QSB and our other filings with the Securities and Exchange Commission. Should one or more of the risks discussed , or any other risks, materialize, or should one or more of our underlying assumptions prove incorrect, our actual results may vary materially from those anticipated, estimated, expected or projected. In light of the risks and uncertainties, there can be no assurance that any forward-looking statement will in fact prove to be correct. We undertake no obligation to update or revise any forward-looking statements.
XENONICS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three months Nine months
ended ended
June 30, June 30,
--------------- -----------------
$ in thousands, except share amounts 2005 2004 2005 2004
------- ------- -------- --------
Revenue $3,075 $4,119 $3,905 $10,984
Cost of goods sold 1,712 2,310 2,198 6,385
------- ------- -------- --------
Gross profit 1,363 1,809 1,707 4,599
------- ------- -------- --------
Selling, general and administrative 1,277 882 3,248 2,206
Engineering, research and development 111 45 335 120
------- ------- -------- --------
(Loss) income from operations (25) 882 (1,876) 2,273
Other income/(expense), net:
Interest income 3 6 16 7
Interest expense (7) (2) (8) (30)
Other income 2 -- 3 --
------- ------- -------- --------
(Loss) income before provision for
income taxes (27) 886 (1,865) 2,250
Income tax (benefit) provision (57) 90 (56) 196
------- ------- -------- --------
Net income (loss) before minority
interest 30 796 (1,809) 2,054
Minority interest 7 -- (3) --
------- ------- -------- --------
Net income (loss) $23 $796 $(1,806) $2,054
======= ======= ======== ========
Net income (loss) per share:
Basic $0.00 $0.06 $(0.12) $0.15
Diluted $0.00 $0.05 $(0.12) $0.12
======= ======= ======== ========
Weighted average shares outstanding
Basic 15,191 14,080 14,742 13,285
Diluted 17,706 17,246 14,742 16,826
======= ======= ======== ========
XENONICS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
$ in thousands, except share amounts
Jun. 30, Sep. 30,
Assets 2005 2004
----------- ---------
(unaudited)
Current assets:
Cash $1,166 $3,269
Accounts receivable, net 2,951 253
Inventories, net 3,205 922
Other current assets 209 189
----------- ---------
Total Current Assets 7,531 4,633
----------- ---------
Equipment, furniture and fixtures, net of
depreciation 49 35
Other non-current assets 25 24
----------- ---------
Total Assets $7,605 $4,692
=========== =========
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable $1,495 $1,126
Due to factor 1,305 --
Accrued royalty -- 400
Accrued payroll and related taxes 105 93
Other current liabilities 10 --
----------- ---------
Total Current Liabilities 2,915 1,619
----------- ---------
Commitments and contingencies (Note 13)
Minority interest 31 --
Shareholders' equity:
Preferred shares, $0.001 par value, 5,000,000
shares authorized, 0 shares issued and
outstanding -- --
Common shares, $0.001 par value, 50,000,000
and 20,000,000 shares authorized as of 2005
and 2004, respectively; 15,511,878 shares
issued and 14,161,878 issued and outstanding
in 2005 and 2004, respectively 16 14
Additional paid-in capital 13,930 10,540
Accumulated deficit (9,287) (7,481)
Total Shareholders' Equity 4,659 3,073
----------- ---------
Total Liabilities and Shareholders' Equity $7,605 $4,692
=========== =========
--------------------------------------------------------------------------------
Contact:
Xenonics Holdings, Inc.
Richard Naughton, 760-438-4004
xenonics@xenonics.com
or
Investor Contact:
Berkman Associates
310-277-5162
info@BerkmanAssociates.com
--------------------------------------------------------------------------------
Source: Xenonics Holdings, Inc.
CVD Equipment Corporation Announces Second Quarter Results
Thursday August 11, 5:37 pm ET
RONKONKOMA, N.Y., Aug. 11 /PRNewswire-FirstCall/ -- CVD Equipment Corporation (Amex: CVV - News), a global designer, manufacturer and supplier of equipment primarily used in the semiconductor, nanotechnology and printed circuit board industries, today announced its financial results for the three and six months ended June 30, 2005.
Revenue for the three and six months ending June 30, 2005 was $3,009,000 and $5,407,000 respectively compared to $1,727,000 and $3,919,000 for the three and six months ending June 30, 2004 representing an increase of 74.2% and 38% for the respective periods. This increase in revenue can be attributed to an increase in order levels the Company received since the latter part of 2004. Overall, gross profit percentage increased during the three and six months ending June 30, 2005 to 40.4% and 36.7%, from 32.2% and 29.2% respectively for the three and six months ending June 30, 2004. This increase in gross revenue and gross margin has resulted in the Company generating net income of $293,000 or $.09 per share basic and diluted for the three months and $.10 per share basic and $.09 per share diluted for the six months ended June 30, 2005 compared to a net loss of $243,000 and $.08 per share basic and diluted for the three months ended June 30, 2004 and a net loss of $335,000 or $.11 per share basic and diluted for the six months ending June 30, 2004.
At June 30, 2005 our order backlog, comprised of customer orders that are expected to ship within the next six months, increased by 5.3% to approximately $2,560,000 from $2,430,000 at December 31, 2004. Our backlog at any specific point in time is not necessarily indicative of actual revenues or earnings for any succeeding period due to possible customer changes in delivery schedules or cancellation of orders, and because backlog does not provide any assurance of a profit from these orders.
Leonard Rosenbaum, President and Chief Executive Officer stated, "The Company's performance during the second quarter is the direct result of production improvements initiated in prior years. Going forward, we have started to make some internal organizational changes that should enable us to further increase sales and production."
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in CVD Equipment Corporation's filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on CVD Equipment Corporation's website does not constitute a part of this release.
CVD Equipment Corporation
Summary Consolidated Statements of Operations
Three Months Ended Six Months Ended
6/30/05 6/30/04 6/30/05 6/30/04
Revenue $3,008,563 $1,726,598 $5,406,633 $3,918,533
Net Income (loss) 293,178 (243,116) 294,271 (334,719)
Net Income (loss)
Per share basic $0.09 $(0.08) $0.10 $(0.11)
Per share diluted 0.09 (0.08) 0.09 (0.11)
Weighted Average Shares
of Common Stock
Outstanding
Basic 3,100,180 3,039,100 3,069,809 3,039,100
Diluted 3,245,356 3,039,100 3,116,637 3,039,100
--------------------------------------------------------------------------------
Source: CVD Equipment Corporation
CVD Equipment Corporation Announces Second Quarter Results
Thursday August 11, 5:37 pm ET
RONKONKOMA, N.Y., Aug. 11 /PRNewswire-FirstCall/ -- CVD Equipment Corporation (Amex: CVV - News), a global designer, manufacturer and supplier of equipment primarily used in the semiconductor, nanotechnology and printed circuit board industries, today announced its financial results for the three and six months ended June 30, 2005.
Revenue for the three and six months ending June 30, 2005 was $3,009,000 and $5,407,000 respectively compared to $1,727,000 and $3,919,000 for the three and six months ending June 30, 2004 representing an increase of 74.2% and 38% for the respective periods. This increase in revenue can be attributed to an increase in order levels the Company received since the latter part of 2004. Overall, gross profit percentage increased during the three and six months ending June 30, 2005 to 40.4% and 36.7%, from 32.2% and 29.2% respectively for the three and six months ending June 30, 2004. This increase in gross revenue and gross margin has resulted in the Company generating net income of $293,000 or $.09 per share basic and diluted for the three months and $.10 per share basic and $.09 per share diluted for the six months ended June 30, 2005 compared to a net loss of $243,000 and $.08 per share basic and diluted for the three months ended June 30, 2004 and a net loss of $335,000 or $.11 per share basic and diluted for the six months ending June 30, 2004.
At June 30, 2005 our order backlog, comprised of customer orders that are expected to ship within the next six months, increased by 5.3% to approximately $2,560,000 from $2,430,000 at December 31, 2004. Our backlog at any specific point in time is not necessarily indicative of actual revenues or earnings for any succeeding period due to possible customer changes in delivery schedules or cancellation of orders, and because backlog does not provide any assurance of a profit from these orders.
Leonard Rosenbaum, President and Chief Executive Officer stated, "The Company's performance during the second quarter is the direct result of production improvements initiated in prior years. Going forward, we have started to make some internal organizational changes that should enable us to further increase sales and production."
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in CVD Equipment Corporation's filings with the Securities and Exchange Commission. In addition, such statements could be affected by risks and uncertainties related to product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on CVD Equipment Corporation's website does not constitute a part of this release.
CVD Equipment Corporation
Summary Consolidated Statements of Operations
Three Months Ended Six Months Ended
6/30/05 6/30/04 6/30/05 6/30/04
Revenue $3,008,563 $1,726,598 $5,406,633 $3,918,533
Net Income (loss) 293,178 (243,116) 294,271 (334,719)
Net Income (loss)
Per share basic $0.09 $(0.08) $0.10 $(0.11)
Per share diluted 0.09 (0.08) 0.09 (0.11)
Weighted Average Shares
of Common Stock
Outstanding
Basic 3,100,180 3,039,100 3,069,809 3,039,100
Diluted 3,245,356 3,039,100 3,116,637 3,039,100
--------------------------------------------------------------------------------
Source: CVD Equipment Corporation
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 9, 2005--XENONICS HOLDINGS, INC. (AMEX:XNN - News) today announced that it plans to release financial results for the fiscal 2005 third quarter ended June 30, 2005 on Friday, August 12, 2005 at approximately 7:30 a.m. EDT. Xenonics has scheduled a conference call at 11:00 a.m. EDT that morning to discuss its results for the quarter.
BSQUARE Reports Second Quarter 2005 Results
Thursday August 11, 4:01 pm ET
Company Reports Better-Than-Expected Top and Bottom Lines
BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 11, 2005--BSQUARE Corporation (Nasdaq:BSQR - News) today reported financial results for the second quarter and six months ended June 30, 2005.
Highlights of the Quarter:
Revenue was better than expected, driven by strength in all revenue categories which, in turn, contributed to better-than-expected bottom-line performance and a nearly breakeven quarter;
Third-party software sales were $6.9 million, compared to $5.3 million and $6.9 million in the second quarter of 2004 and first quarter of 2005, respectively, which included $1.1 million and $711,000, respectively, in third-party software sales to Cardinal Healthcare. Excluding sales to Cardinal, third-party software sales increased 60% and 10% compared to the second quarter of 2004 and the first quarter of 2005, respectively. As previously disclosed, Cardinal represented 19% of total revenue in 2004 and began purchasing from a competitor in the second quarter of 2005;
Proprietary software revenue increased 38% from the second quarter of 2004 and $383,000, or 65%, from the first quarter of 2005. $300,000 of the sequential increase came from previously unreported royalties from an OEM customer while SDIO Now! sales continued to show stability;
North American service revenue increased $342,000, or 16%, from the first quarter of 2005 as a result of the company's recent sales optimization efforts. While the increase was offset somewhat by a decrease in Asia Pacific-based activity, service revenue increased sequentially for the first time in five quarters; and
Revenue for the six months ended June 30, 2005 increased to $20.1 million from $19.4 million in the same period in the prior year, including $790,000 and $3.6 million, respectively, in revenue attributable to Cardinal in those periods, representing a 23% increase year-to-year in revenue generated from customers other than Cardinal.
For the second quarter of 2005, BSQUARE reported total revenue of $10.3 million, compared to $8.8 million in the second quarter of 2004 and $9.8 million in the first quarter of 2005, representing increases of 17% and 5%, respectively. Total revenue for the six months ended June 30, 2005 was $20.1 million, compared to $19.4 million in the same six-month period of 2004. The company reported a net loss for the quarter of $37,000 ($0.01 per diluted share), including income tax expense of $66,000. That compares to a net loss of $5.1 million ($0.14 per diluted share) in the second quarter of 2004 and a net loss of $545,000 ($0.01 per diluted share) in the first quarter of 2005. For the six months ended June 30, 2005, the company reported a net loss of $582,000 ($0.02 per diluted share), compared to a net loss of $7.3 million ($0.19 per diluted share) in the first six months of 2004. Results for the second quarter of 2004 and six months ended June 30, 2004 included losses from the now-discontinued hardware business unit of $4.5 million and $6.5 million, respectively. There was no activity for the hardware business unit in 2005.
"This was a very solid quarter financially and we demonstrated progress in a number of key areas," said Brian Crowley, president and chief executive officer of BSQUARE. "Most notably, we showed meaningful improvement in our North American service revenue during the quarter."
Key milestones during the quarter included:
Announced the acquisition of the embedded assets of Vibren Technologies, Inc. on June 30, 2005. The acquired assets included several products, ongoing relationships with new customers, expanded relationships with existing customers and a number of experienced personnel;
Unveiled the SDIO Now! version 2.x roadmap to customers. SDIO Now! v2.x includes performance enhancements, support for 2MB and 4MB Secure Digital (SD) memory cards as they become available, support for SD security allowing customers to protect sensitive data stored on SD cards and support for MMC memory cards;
Worked on 52 service engagements during the quarter. Highlighting BSQUARE's breadth of expertise, the engagements included several Pocket PC development efforts, SmartPhone development for a major OEM, Windows CE 5.0-based board support packages for leading silicon vendors, quality assurance testing for a global ODM, and XP Embedded-based development for kiosk, point-of-sale and gaming devices;
Signed a contract with a partner in Taiwan for co-development of a next-generation Intel PXA270 wireless reference design. This partnership is one component of BSQUARE's overall reference design initiative in which BSQUARE intends to offer reference designs in a number of technology verticals. The partner will be providing hardware design and manufacturing expertise while BSQUARE will provide software and system integration expertise. BSQUARE will begin selling the resulting reference design later this year for availability in early 2006. This reference design will provide BSQUARE customers with a proven platform on which to base their wireless smart device development efforts; and
Improved the company's domestic sales organization with the hiring of experienced sales executives in the Northeast, Midwest and Southwest territories. These sales executives bring a combined 40 plus years of experience selling products and services to OEMs and ODMs creating smart devices.
Crowley noted, "The continued investment in, and expansion of, our SDIO Now! technology and our reference design initiatives are examples of the approach we are taking to create additional products to sell to our substantial customer base."
Revenue Results
Software revenue for the quarter was $7.8 million (76% of total revenue), including $6.9 million in sales of third-party software products, primarily Microsoft Embedded operating systems. This compared to software revenue of $6.0 million and $7.5 million in the second quarter of 2004 and first quarter of 2005, respectively, which included $5.3 million and $6.9 million in sales of third-party software, respectively. Cardinal accounted for $1.1 million and $711,000 in third-party software sales in the second quarter of 2004 and first quarter of 2005, respectively. Excluding sales to Cardinal, third-party software revenue increased 60% and 10% in the second quarter of 2005 compared to the second quarter of 2004 and first quarter of 2005, respectively. The year-over-year increase was due to sales growth within the company's top-10 accounts other than Cardinal, while the sequential increase was driven by several new account wins, although the margins on these accounts are small. Crowley commented, "Despite the decrease in Cardinal order volumes, this was another solid quarter in sales of third-party software, and we continue to focus on new account wins and customer diversification."
Proprietary software revenue was $970,000 for the quarter, compared to $700,000 and $587,000 in the second quarter of 2004 and first quarter of 2005, respectively. Sales of the company's SDIO Now! software product continued to show strength, contributing $503,000 to software revenue in the quarter, as compared to $584,000 and $491,000 in the second quarter of 2004 and the first quarter of 2005, respectively. This quarter included $300,000 in proprietary software revenue attributable to previously unreported royalties from an OEM on non-SDIO products. BSQUARE expects ongoing royalty revenue from this OEM in the future, but not of the magnitude seen in the second quarter.
Service revenue for the quarter was $2.5 million, compared to $2.8 million and $2.4 million in the second quarter of 2004 and first quarter of 2005, respectively. The increase in service revenue over the first quarter of 2005 was attributable to a $342,000 increase in North American service revenue, driven by overall higher activity levels that resulted in a 23% increase in billable hours. "As we commented in our March conference call, we have been taking steps to improve our sales execution, and we saw early results of those efforts this quarter," Crowley said. "We expect service revenue to improve again in the third quarter based on the strength of both our North American and international backlog and pipeline."
Gross Profit Margin Results
Overall gross profit was $2.5 million, or 24% of total revenue, for the quarter, compared to $2.2 million, or 25%, and $1.9 million, or 19%, in the second quarter of 2004 and first quarter of 2005, respectively.
Software gross margin was 25% for the quarter, compared to 25% and 21% for the second quarter of 2004 and first quarter of 2005, respectively. The higher software margin this quarter, as compared to the first quarter of 2005, was driven by sales of high-margin proprietary software products comprising a larger percentage of overall software revenue. Third-party software margin was approximately 14% this quarter, two percentage points lower than the second quarter of 2004 and identical to the first quarter of 2005. Service gross margin was 23% this quarter, compared to 24% and 15% in the second quarter of 2004 and first quarter of 2005, respectively. The increase in service gross margin, as compared to the first quarter of 2005, was attributable to higher revenue volume on a slightly lower service cost of sales base. Scott Mahan, BSQUARE's chief financial officer, commented, "For several quarters we have discussed the fact that we have been under capacity in our service delivery organization. This quarter we were able to leverage that available capacity as we grew service revenue with no resulting increase in costs."
Operating Expenses and Other Financial Items
During the quarter, operating expenses were $2.6 million, compared to $2.9 million and $2.5 million in the second quarter of 2004 and first quarter of 2005, respectively. All of the increase in operating expenses this quarter over the first quarter was attributable to increased research and development expense to support the company's proprietary product efforts.
Mahan commented, "The operating expense trends we saw this quarter, particularly the increase in research and development, have been discussed over the last several quarters. We expect to continue to incrementally invest in research and development to support our proprietary product initiatives throughout the year. In addition to our R&D investment, we expect operating expenses to increase this year based on our recent acquisition, as well as some incremental Sarbanes-Oxley costs later in the year. Based on positive momentum in the marketplace, we are also weighing increased investments in sales and marketing, particularly internationally."
The company reported income tax expense of $66,000 during the quarter attributable to the company's Taiwan subsidiary. The Taiwan subsidiary has been increasingly profitable and, as a result, has fully utilized the net operating losses it had generated in previous years.
Cash Flows
The company's cash and cash equivalents and short-term investments declined to $11.8 million at June 30, 2005, compared to $12.8 million at March 31, 2005, of which $1.2 million was restricted. This decrease was largely attributable to the acquisition of the Vibren Technologies assets for $500,000 and the final payment of $160,000 to Microsoft under the previously announced audit settlement. The remainder of the decrease was predominantly attributable to a reduction in royalty payables during the quarter related to the timing of the company's sales of Microsoft Embedded operating systems. The company has no outstanding debt.
Conference Call
Management plans to host a conference call today, Thursday, August 11, 2005, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time), to discuss the company's second quarter financial results in more detail, as well as the recently announced Vibren asset acquisition. To access the call, please dial 800-218-0713 or 303-262-2140 and reference "BSQUARE" or conference 11033698. A replay will be available for one week following the call by dialing 800-405-2236 or 303-590-3000; reference conference ID 11033698. A live and replay webcast of the call will be available at www.BSQUARE.com in the investor relations section. In addition, text of the conference call's prepared remarks will be available in the investor relations section of the company's website within 24 hours of completion of the call.
About BSQUARE
BSQUARE is a solution provider to the global embedded device community. Committed to delivering quality and lowering project risk and time to market, our teams collaborate with smart device makers at any stage in their device development. Our solution portfolio includes software and hardware development, systems integration services, reference designs, board support packages, middleware, and applications. As a full service provider, we also license to device makers best-in-class software products and operating systems. Since 1994, BSQUARE has completed hundreds of successful projects and has become a trusted partner to smart device makers worldwide.
BSQUARE is a registered trademark of BSQUARE Corporation. All other product and company names herein may be trademarks of their respective owners.
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to our projected financial results and proprietary products strategy. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Our forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and could cause actual results to differ materially from those projected. Factors that could affect our actual results include a decline in the market for our products, technology licenses and services; a decline in the market for Windows-based or other smart devices or the failure of this market to develop as anticipated; adverse changes in macro-economic conditions; our ability to successfully implement, execute and make adjustments in our business strategy, business model or product offerings to meet the needs of our current, new and potential customers; risks associated with the effects of our restructurings; our ability to successfully support our operations; competition; and intellectual property risks. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in BSQUARE's Annual Report on Form 10-K for the year ended December 31, 2004 in the section entitled "Business--Factors That Could Affect Future Results" and in our subsequent Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
BSQUARE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
June 30, December 31,
2005 2004
---------- ------------
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 4,770 $ 4,943
Short-term investments 5,800 6,800
Accounts receivable, net 5,965 4,841
Prepaid expenses and other current assets 545 563
---------- ---------
Total current assets 17,080 17,147
Furniture, equipment and leasehold
improvements, net 797 784
Intangible assets 406 --
Restricted cash 1,200 1,200
---------- ---------
Total assets $ 19,483 $ 19,131
========== =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,440 $ 1,340
Accrued compensation 811 878
Accrued legal fees 534 534
Other accrued expenses 2,782 2,880
Deferred revenue 375 390
---------- ---------
Total current liabilities 6,942 6,022
Deferred rent 366 375
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value: authorized
10,000,000 shares; no shares issued and
outstanding -- --
Common stock, no par value: authorized
150,000,000 shares; issued and outstanding,
38,156,661 shares as of June 30, 2005 and
38,132,479 shares as of December 31, 2004 118,359 118,350
Accumulated other comprehensive loss (392) (406)
Accumulated deficit (105,792) (105,210)
---------- ---------
Total shareholders' equity 12,175 12,734
---------- ---------
Total liabilities and shareholders' equity $ 19,483 $ 19,131
========== =========
BSQUARE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Six Months
Ended June 30, Ended June 30,
--------------------------------
2005 2004 2005 2004
-------- ------- ------- -------
(unaudited) (unaudited)
Revenue:
Software $ 7,822 $ 6,002 $15,274 $13,702
Service 2,494 2,845 4,857 5,719
------- ------- ------- -------
Total revenue 10,316 8,847 20,131 19,421
Cost of revenue:
Software 5,877 4,475 11,769 10,553
Service 1,914 2,156 3,929 4,238
------- ------- ------- -------
Total cost of revenue 7,791 6,631 15,698 14,791
------- ------- ------- -------
Gross profit 2,525 2,216 4,433 4,630
Operating expenses:
Selling, general and administrative 2,132 2,749 4,258 5,200
Research and development 447 168 833 345
Restructuring and related charges -- -- -- 40
------- ------- ------- -------
Total operating expenses 2,579 2,917 5,091 5,585
------- ------- ------- -------
Loss from operations (54) (701) (658) (955)
Other income, net 83 41 142 98
------- ------- ------- -------
Income (loss) before income taxes 29 (660) (516) (857)
Income tax provision (66) -- (66) --
------- ------- ------- -------
Loss from continuing operations (37) (660) (582) (857)
Loss from discontinued operations -- (4,469) -- (6,479)
------- ------- ------- -------
Net loss $ (37)$(5,129)$ (582)$(7,336)
======= ======= ======= =======
Basic and diluted loss per share:
Loss from continuing operations $ (0.01)$ (0.02)$ (0.02)$ (0.02)
Loss from discontinued operations -- (0.12) -- (0.17)
------- ------- ------- -------
Basic and diluted loss per share $ (0.01)$ (0.14)$ (0.02)$ (0.19)
======= ======= ======= =======
Shares used in calculation of basic
and diluted loss per share 38,145 37,863 38,142 37,729
======= ======= ======= =======
--------------------------------------------------------------------------------
Contact:
BSQUARE Corporation
Scott Mahan, 425-519-5900
investorrelations@bsquare.com
--------------------------------------------------------------------------------
Source: BSQUARE Corporation
BSQUARE Reports Second Quarter 2005 Results
Thursday August 11, 4:01 pm ET
Company Reports Better-Than-Expected Top and Bottom Lines
BELLEVUE, Wash.--(BUSINESS WIRE)--Aug. 11, 2005--BSQUARE Corporation (Nasdaq:BSQR - News) today reported financial results for the second quarter and six months ended June 30, 2005.
Highlights of the Quarter:
Revenue was better than expected, driven by strength in all revenue categories which, in turn, contributed to better-than-expected bottom-line performance and a nearly breakeven quarter;
Third-party software sales were $6.9 million, compared to $5.3 million and $6.9 million in the second quarter of 2004 and first quarter of 2005, respectively, which included $1.1 million and $711,000, respectively, in third-party software sales to Cardinal Healthcare. Excluding sales to Cardinal, third-party software sales increased 60% and 10% compared to the second quarter of 2004 and the first quarter of 2005, respectively. As previously disclosed, Cardinal represented 19% of total revenue in 2004 and began purchasing from a competitor in the second quarter of 2005;
Proprietary software revenue increased 38% from the second quarter of 2004 and $383,000, or 65%, from the first quarter of 2005. $300,000 of the sequential increase came from previously unreported royalties from an OEM customer while SDIO Now! sales continued to show stability;
North American service revenue increased $342,000, or 16%, from the first quarter of 2005 as a result of the company's recent sales optimization efforts. While the increase was offset somewhat by a decrease in Asia Pacific-based activity, service revenue increased sequentially for the first time in five quarters; and
Revenue for the six months ended June 30, 2005 increased to $20.1 million from $19.4 million in the same period in the prior year, including $790,000 and $3.6 million, respectively, in revenue attributable to Cardinal in those periods, representing a 23% increase year-to-year in revenue generated from customers other than Cardinal.
For the second quarter of 2005, BSQUARE reported total revenue of $10.3 million, compared to $8.8 million in the second quarter of 2004 and $9.8 million in the first quarter of 2005, representing increases of 17% and 5%, respectively. Total revenue for the six months ended June 30, 2005 was $20.1 million, compared to $19.4 million in the same six-month period of 2004. The company reported a net loss for the quarter of $37,000 ($0.01 per diluted share), including income tax expense of $66,000. That compares to a net loss of $5.1 million ($0.14 per diluted share) in the second quarter of 2004 and a net loss of $545,000 ($0.01 per diluted share) in the first quarter of 2005. For the six months ended June 30, 2005, the company reported a net loss of $582,000 ($0.02 per diluted share), compared to a net loss of $7.3 million ($0.19 per diluted share) in the first six months of 2004. Results for the second quarter of 2004 and six months ended June 30, 2004 included losses from the now-discontinued hardware business unit of $4.5 million and $6.5 million, respectively. There was no activity for the hardware business unit in 2005.
"This was a very solid quarter financially and we demonstrated progress in a number of key areas," said Brian Crowley, president and chief executive officer of BSQUARE. "Most notably, we showed meaningful improvement in our North American service revenue during the quarter."
Key milestones during the quarter included:
Announced the acquisition of the embedded assets of Vibren Technologies, Inc. on June 30, 2005. The acquired assets included several products, ongoing relationships with new customers, expanded relationships with existing customers and a number of experienced personnel;
Unveiled the SDIO Now! version 2.x roadmap to customers. SDIO Now! v2.x includes performance enhancements, support for 2MB and 4MB Secure Digital (SD) memory cards as they become available, support for SD security allowing customers to protect sensitive data stored on SD cards and support for MMC memory cards;
Worked on 52 service engagements during the quarter. Highlighting BSQUARE's breadth of expertise, the engagements included several Pocket PC development efforts, SmartPhone development for a major OEM, Windows CE 5.0-based board support packages for leading silicon vendors, quality assurance testing for a global ODM, and XP Embedded-based development for kiosk, point-of-sale and gaming devices;
Signed a contract with a partner in Taiwan for co-development of a next-generation Intel PXA270 wireless reference design. This partnership is one component of BSQUARE's overall reference design initiative in which BSQUARE intends to offer reference designs in a number of technology verticals. The partner will be providing hardware design and manufacturing expertise while BSQUARE will provide software and system integration expertise. BSQUARE will begin selling the resulting reference design later this year for availability in early 2006. This reference design will provide BSQUARE customers with a proven platform on which to base their wireless smart device development efforts; and
Improved the company's domestic sales organization with the hiring of experienced sales executives in the Northeast, Midwest and Southwest territories. These sales executives bring a combined 40 plus years of experience selling products and services to OEMs and ODMs creating smart devices.
Crowley noted, "The continued investment in, and expansion of, our SDIO Now! technology and our reference design initiatives are examples of the approach we are taking to create additional products to sell to our substantial customer base."
Revenue Results
Software revenue for the quarter was $7.8 million (76% of total revenue), including $6.9 million in sales of third-party software products, primarily Microsoft Embedded operating systems. This compared to software revenue of $6.0 million and $7.5 million in the second quarter of 2004 and first quarter of 2005, respectively, which included $5.3 million and $6.9 million in sales of third-party software, respectively. Cardinal accounted for $1.1 million and $711,000 in third-party software sales in the second quarter of 2004 and first quarter of 2005, respectively. Excluding sales to Cardinal, third-party software revenue increased 60% and 10% in the second quarter of 2005 compared to the second quarter of 2004 and first quarter of 2005, respectively. The year-over-year increase was due to sales growth within the company's top-10 accounts other than Cardinal, while the sequential increase was driven by several new account wins, although the margins on these accounts are small. Crowley commented, "Despite the decrease in Cardinal order volumes, this was another solid quarter in sales of third-party software, and we continue to focus on new account wins and customer diversification."
Proprietary software revenue was $970,000 for the quarter, compared to $700,000 and $587,000 in the second quarter of 2004 and first quarter of 2005, respectively. Sales of the company's SDIO Now! software product continued to show strength, contributing $503,000 to software revenue in the quarter, as compared to $584,000 and $491,000 in the second quarter of 2004 and the first quarter of 2005, respectively. This quarter included $300,000 in proprietary software revenue attributable to previously unreported royalties from an OEM on non-SDIO products. BSQUARE expects ongoing royalty revenue from this OEM in the future, but not of the magnitude seen in the second quarter.
Service revenue for the quarter was $2.5 million, compared to $2.8 million and $2.4 million in the second quarter of 2004 and first quarter of 2005, respectively. The increase in service revenue over the first quarter of 2005 was attributable to a $342,000 increase in North American service revenue, driven by overall higher activity levels that resulted in a 23% increase in billable hours. "As we commented in our March conference call, we have been taking steps to improve our sales execution, and we saw early results of those efforts this quarter," Crowley said. "We expect service revenue to improve again in the third quarter based on the strength of both our North American and international backlog and pipeline."
Gross Profit Margin Results
Overall gross profit was $2.5 million, or 24% of total revenue, for the quarter, compared to $2.2 million, or 25%, and $1.9 million, or 19%, in the second quarter of 2004 and first quarter of 2005, respectively.
Software gross margin was 25% for the quarter, compared to 25% and 21% for the second quarter of 2004 and first quarter of 2005, respectively. The higher software margin this quarter, as compared to the first quarter of 2005, was driven by sales of high-margin proprietary software products comprising a larger percentage of overall software revenue. Third-party software margin was approximately 14% this quarter, two percentage points lower than the second quarter of 2004 and identical to the first quarter of 2005. Service gross margin was 23% this quarter, compared to 24% and 15% in the second quarter of 2004 and first quarter of 2005, respectively. The increase in service gross margin, as compared to the first quarter of 2005, was attributable to higher revenue volume on a slightly lower service cost of sales base. Scott Mahan, BSQUARE's chief financial officer, commented, "For several quarters we have discussed the fact that we have been under capacity in our service delivery organization. This quarter we were able to leverage that available capacity as we grew service revenue with no resulting increase in costs."
Operating Expenses and Other Financial Items
During the quarter, operating expenses were $2.6 million, compared to $2.9 million and $2.5 million in the second quarter of 2004 and first quarter of 2005, respectively. All of the increase in operating expenses this quarter over the first quarter was attributable to increased research and development expense to support the company's proprietary product efforts.
Mahan commented, "The operating expense trends we saw this quarter, particularly the increase in research and development, have been discussed over the last several quarters. We expect to continue to incrementally invest in research and development to support our proprietary product initiatives throughout the year. In addition to our R&D investment, we expect operating expenses to increase this year based on our recent acquisition, as well as some incremental Sarbanes-Oxley costs later in the year. Based on positive momentum in the marketplace, we are also weighing increased investments in sales and marketing, particularly internationally."
The company reported income tax expense of $66,000 during the quarter attributable to the company's Taiwan subsidiary. The Taiwan subsidiary has been increasingly profitable and, as a result, has fully utilized the net operating losses it had generated in previous years.
Cash Flows
The company's cash and cash equivalents and short-term investments declined to $11.8 million at June 30, 2005, compared to $12.8 million at March 31, 2005, of which $1.2 million was restricted. This decrease was largely attributable to the acquisition of the Vibren Technologies assets for $500,000 and the final payment of $160,000 to Microsoft under the previously announced audit settlement. The remainder of the decrease was predominantly attributable to a reduction in royalty payables during the quarter related to the timing of the company's sales of Microsoft Embedded operating systems. The company has no outstanding debt.
Conference Call
Management plans to host a conference call today, Thursday, August 11, 2005, at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time), to discuss the company's second quarter financial results in more detail, as well as the recently announced Vibren asset acquisition. To access the call, please dial 800-218-0713 or 303-262-2140 and reference "BSQUARE" or conference 11033698. A replay will be available for one week following the call by dialing 800-405-2236 or 303-590-3000; reference conference ID 11033698. A live and replay webcast of the call will be available at www.BSQUARE.com in the investor relations section. In addition, text of the conference call's prepared remarks will be available in the investor relations section of the company's website within 24 hours of completion of the call.
About BSQUARE
BSQUARE is a solution provider to the global embedded device community. Committed to delivering quality and lowering project risk and time to market, our teams collaborate with smart device makers at any stage in their device development. Our solution portfolio includes software and hardware development, systems integration services, reference designs, board support packages, middleware, and applications. As a full service provider, we also license to device makers best-in-class software products and operating systems. Since 1994, BSQUARE has completed hundreds of successful projects and has become a trusted partner to smart device makers worldwide.
BSQUARE is a registered trademark of BSQUARE Corporation. All other product and company names herein may be trademarks of their respective owners.
This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to our projected financial results and proprietary products strategy. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. Our forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict and could cause actual results to differ materially from those projected. Factors that could affect our actual results include a decline in the market for our products, technology licenses and services; a decline in the market for Windows-based or other smart devices or the failure of this market to develop as anticipated; adverse changes in macro-economic conditions; our ability to successfully implement, execute and make adjustments in our business strategy, business model or product offerings to meet the needs of our current, new and potential customers; risks associated with the effects of our restructurings; our ability to successfully support our operations; competition; and intellectual property risks. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in BSQUARE's Annual Report on Form 10-K for the year ended December 31, 2004 in the section entitled "Business--Factors That Could Affect Future Results" and in our subsequent Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
BSQUARE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
June 30, December 31,
2005 2004
---------- ------------
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 4,770 $ 4,943
Short-term investments 5,800 6,800
Accounts receivable, net 5,965 4,841
Prepaid expenses and other current assets 545 563
---------- ---------
Total current assets 17,080 17,147
Furniture, equipment and leasehold
improvements, net 797 784
Intangible assets 406 --
Restricted cash 1,200 1,200
---------- ---------
Total assets $ 19,483 $ 19,131
========== =========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,440 $ 1,340
Accrued compensation 811 878
Accrued legal fees 534 534
Other accrued expenses 2,782 2,880
Deferred revenue 375 390
---------- ---------
Total current liabilities 6,942 6,022
Deferred rent 366 375
Commitments and contingencies
Shareholders' equity:
Preferred stock, no par value: authorized
10,000,000 shares; no shares issued and
outstanding -- --
Common stock, no par value: authorized
150,000,000 shares; issued and outstanding,
38,156,661 shares as of June 30, 2005 and
38,132,479 shares as of December 31, 2004 118,359 118,350
Accumulated other comprehensive loss (392) (406)
Accumulated deficit (105,792) (105,210)
---------- ---------
Total shareholders' equity 12,175 12,734
---------- ---------
Total liabilities and shareholders' equity $ 19,483 $ 19,131
========== =========
BSQUARE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
Three Months Six Months
Ended June 30, Ended June 30,
--------------------------------
2005 2004 2005 2004
-------- ------- ------- -------
(unaudited) (unaudited)
Revenue:
Software $ 7,822 $ 6,002 $15,274 $13,702
Service 2,494 2,845 4,857 5,719
------- ------- ------- -------
Total revenue 10,316 8,847 20,131 19,421
Cost of revenue:
Software 5,877 4,475 11,769 10,553
Service 1,914 2,156 3,929 4,238
------- ------- ------- -------
Total cost of revenue 7,791 6,631 15,698 14,791
------- ------- ------- -------
Gross profit 2,525 2,216 4,433 4,630
Operating expenses:
Selling, general and administrative 2,132 2,749 4,258 5,200
Research and development 447 168 833 345
Restructuring and related charges -- -- -- 40
------- ------- ------- -------
Total operating expenses 2,579 2,917 5,091 5,585
------- ------- ------- -------
Loss from operations (54) (701) (658) (955)
Other income, net 83 41 142 98
------- ------- ------- -------
Income (loss) before income taxes 29 (660) (516) (857)
Income tax provision (66) -- (66) --
------- ------- ------- -------
Loss from continuing operations (37) (660) (582) (857)
Loss from discontinued operations -- (4,469) -- (6,479)
------- ------- ------- -------
Net loss $ (37)$(5,129)$ (582)$(7,336)
======= ======= ======= =======
Basic and diluted loss per share:
Loss from continuing operations $ (0.01)$ (0.02)$ (0.02)$ (0.02)
Loss from discontinued operations -- (0.12) -- (0.17)
------- ------- ------- -------
Basic and diluted loss per share $ (0.01)$ (0.14)$ (0.02)$ (0.19)
======= ======= ======= =======
Shares used in calculation of basic
and diluted loss per share 38,145 37,863 38,142 37,729
======= ======= ======= =======
--------------------------------------------------------------------------------
Contact:
BSQUARE Corporation
Scott Mahan, 425-519-5900
investorrelations@bsquare.com
--------------------------------------------------------------------------------
Source: BSQUARE Corporation
wow XNN @ 2.55! hoping run continues tomorrow em
vino, i wouldn't buy this high.. but then again somebody may know something judging yesterday/today's activity?? em
should be out before pre market .. at 2.50 now..geez em
ot: wow.. my XNN @ 2.30.. hoping tomorrow brings some big move (uhm.. and that it's in the right direction lol)
i'm holding all my shares overnight in hopes of a homerun
-rollin'
why yes... i do feel special LOL.... XNN, well from the order pr's on june 7th and 10th we know rev's should be at least $3.2mil..... so i think we get a nice report... coming off very oversold... float on the lower side
g/l!
Hi Brig! Been awhile.. member me? You wanted my head on a shelf for one play LOL..
I want XNN to $3.49 tomorrow... we'll see
g/l!
-rollin
Hi Buzz, saw you post awhile back about XNN.. earnings tomorrow.. look at this->
i'm in @ 1.95
-rollin
OT: purty chart!
2 sizeable block trades on XNN (20k and 15,900 @ 1.95) fwiw em
TGC -> Tengasco Announces Second Quarter 2005 Financial Results
Thursday August 11, 9:43 am ET
KNOXVILLE, Tenn.--(BUSINESS WIRE)--Aug. 11, 2005--Tengasco, Inc. (AMEX: TGC - News) announced today its financial results for the quarter ended June 30, 2005. The Company realized a net loss attributable to common shareholders of $132,540 ($0.00 per share of common stock) during the second quarter of 2005, compared to a net loss in the second quarter of 2004 to common shareholders of $281,628 ($0.01 per share).
The Company recognized $1,612,097 in total revenues from its Kansas properties and the Swan Creek Field in Tennessee during the second quarter of 2005 compared to $1,406,660 in the second quarter of 2004. The increase was primarily due to an increase in oil prices in 2005 that was in part offset by the absence of any Kansas gas production revenues in the second quarter which was the result of the sale of the gas field in Kansas effective February 1, 2005. Oil prices in the second quarter of 2005 averaged $50.29 per barrel compared to $36.29 per barrel in the second quarter of 2004.
Production costs and taxes in the second quarter of 2005 of $696,361 increased slightly from $667,851 in the second quarter of 2004. Depreciation, depletion, and amortization expense for the second quarter of 2005 was $477,846 compared to $564,984 in the second quarter of 2004 due to a reduction in depletion and depreciation taken due to the sale of the Kansas gas field and equipment becoming fully depreciated in late 2004. During the second quarter of 2005, general and administrative costs remained near 2004 levels with $315,740 for the second quarter of 2005 versus $282,266 for the second quarter of 2004.
Interest expense for the second quarter of 2005 decreased to $196,918 from $274,854 during the second quarter of 2004. The substantial decrease in the second quarter of 2005 was the result of the payoff of the Bank One loan and other secured notes, and the exchange of preferred stock subject to mandatory redemption for cash or for interests in a drilling program, all of which occurred in the second or later quarters of 2004.
Jeffrey R. Bailey, President of the Company, stated, "Although our results for the second quarter show a net loss attributable to common shareholders of $132,540, effectively averaging $0.00 per share of common stock, for the entire first half of 2005 we have experienced a positive cash flow from operations. Cash flow provided by operations is $691,747 for the six month period ended June 30, 2005, compared to cash flow used in operations of ($648,008) for the same period in 2004. We are pleased with the direction of the Company and expect to continue this trend in view of current market prices for oil and gas and our drilling activities in Kansas."
Forward-looking statements made in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risk and uncertainties which may cause actual results to differ from anticipated results, including risks associated with the timing and development of the Company's reserves and projects as well as risks of downturns in economic conditions generally, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
--------------------------------------------------------------------------------
Contact:
Tengasco, Inc.
Jeffrey R. Bailey, 865-675-1554
--------------------------------------------------------------------------------
Source: Tengasco, Inc.
earnings friday, showing interesting activity off yesterdays low and nice starting vol today ... i'm in @ 1.95
Struggling FLYi in talks with possible investors
Tue Aug 9, 2005 04:37 PM ET
WASHINGTON, Aug 9 (Reuters) - Flyi Inc. (FLYI.O: Quote, Profile, Research) , parent of Independence Air, said on Tuesday that any talk of filing for bankruptcy is speculative, and talks with potential investors are active and ongoing.
Shares of the Virginia-based low-cost airline fell to a 10-year low after the carrier reported it only had $66 million of unrestricted cash on hand.
FLYi shares closed down 20 cents, or about 29 percent, to 48 cents in over-the-counter trading.
earnings play? -> netGuru to Report Fiscal 2006 First-Quarter Results on Wednesday, August 10, 2005
Tuesday August 9, 1:04 pm ET
YORBA LINDA, Calif.--(BUSINESS WIRE)--Aug. 9, 2005--netGuru, Inc. (Nasdaq:NGRU - News) will report financial results for fiscal 2006 first quarter ended June 30, 2005, at the close of trading on August 10, 2005.
Also on August 10, the Company will hold a teleconference at 1:30 p.m. PDT (4:30 p.m. EDT) to review the financial results, followed by a live Q&A session. To participate in the teleconference, please call toll-free 800-608-3625 (or 706-634-0478 for international callers) approximately 10 minutes prior to the above start time.
For those unable to attend, the company will host an archive of the call on its website, www.netguru.com (requires RealPlayer streaming audio software, available at www.real.com). Additionally, a telephone playback will be available for 48 hours beginning at 5 p.m. PDT on August 10. The playback can be accessed by dialing 800-642-1687 (or 706-645-9291 for international callers) and providing Conference ID 8501003.
About netGuru:
netGuru is an engineering information technology and services company offering engineering and design collaborative software, solutions, and professional and technical IT services and support to businesses worldwide. netGuru serves its global markets and clients through offices located in the United States, Europe, Asia, and the Middle East, and through distributors in 40 countries. The Company licenses its engineering software and solutions to more than 19,000 businesses in 100 countries. For more information please visit www.netguru.com.
--------------------------------------------------------------------------------
Contact:
netGuru, Inc.
Bruce Nelson, 714-974-2500 x-215
Santanu Das, 714-974-2500 x-329
or
Silverman Heller Associates
Dan Matsui/Gene Heller, 310-208-2550
--------------------------------------------------------------------------------
Source: netGuru, Inc.
fingers crossed lol ..Xenonics To Release Third Quarter Results Friday, August 12, 2005
Tuesday August 9, 11:00 am ET
Webcast Set For 11:00 a.m. EDT
CARLSBAD, Calif.--(BUSINESS WIRE)--Aug. 9, 2005--XENONICS HOLDINGS, INC. (AMEX:XNN - News) today announced that it plans to release financial results for the fiscal 2005 third quarter ended June 30, 2005 on Friday, August 12, 2005 at approximately 7:30 a.m. EDT. Xenonics has scheduled a conference call at 11:00 a.m. EDT that morning to discuss its results for the quarter.
A simultaneous webcast of the conference call can be accessed from www.fulldisclosure.com/company.asp?client=cb&ticker=xnn#. A replay will be available after 1:00 p.m. EDT at this same Internet address. For a telephone replay, dial (800) 633-8284, reservation #21257155, after 1:00 p.m. EDT.
About Xenonics
Xenonics develops and produces advanced, lightweight and compact ultra-high intensity lighting products for military, law enforcement, public safety, and commercial and private sector applications. Currently, NightHunters are in use by every branch of the U.S. Armed Forces as well as a wide variety of law enforcement and security agencies. Using its breakthrough patented technology, Xenonics provides innovative solutions for customers that demand the ability to see farther so that they can do their job better and safer. Xenonics' products deliver a quantum leap in performance over other illumination technologies and represent the next generation in small, high intensity, high efficiency lighting systems. Visit Xenonics on the web at www.xenonics.com.
--------------------------------------------------------------------------------
Contact:
Berkman Associates
Investor Contact, 310-277-5162
info@BerkmanAssociates.com
or
Xenonics Holdings, Inc.
Richard Naughton, 760-438-4004
xenonics@xenonics.com
--------------------------------------------------------------------------------
Source: Xenonics Holdings, Inc.
Senetek PLC Guaranteed $37 Million Over Five Years for Expanded Kinetin Rights and Exclusive Zeatin License
Tuesday August 9, 5:00 am ET
NAPA, Calif., Aug. 9 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNTKY - News), www.senetekplc.com, a healthcare technologies company focused on the development and commercialization of products for the growing anti-aging markets worldwide, announced today the signing of a new agreement with its marketing partner, Valeant Pharmaceuticals International (NYSE: VRX - News). Valeant will receive expanded distribution rights for Kinetin which it now markets under the brand Kinerase® and exclusive worldwide manufacturing and marketing rights to Zeatin. In exchange for these grants, Senetek PLC will receive minimum guaranteed annual royalty payments in the amounts of $6 million in 2006, $7 million in 2007 and $8 million each in 2008, 2009 and 2010 before existing credits plus the potential for additional royalties.
Under the agreement Valeant is granted exclusive rights to Zeatin for all distribution channels and Valeant's existing license for Kinetin is similarly broadened, subject to the rights of Senetek's existing Kinetin licensees. Senetek currently has fourteen Kinetin licensees, including Valeant, and under the agreement it undertakes not to enter into additional licenses for Kinetin.
Frank J. Massino, Senetek's Chairman and Chief Executive Officer, stated that "we believe that this agreement places Senetek on a very solid financial footing which should help provide profitability in the future. This will enable the Company to continue to develop new and exciting compounds for various skincare and dermatological indications such as skin lightening, wound healing, scar minimization, psoriasis and others. We know that Valeant has done an excellent job in establishing Kinetin as a leading anti-aging ingredient and believe that they will be even more successful going forward with Zeatin. Valeant is a most important partner to Senetek and our management team welcomes the opportunity to work even closer with the Valeant group."
Senetek is a life sciences-driven product development and licensing company focused on the high growth market for dermatological and skin care products primarily addressing photodamage and age-related skin conditions. Senetek's patented compound Kinetin is a naturally occurring cytokinin that has proven effective in improving the appearance of aging skin with virtually none of the side effects associated with acid-based active ingredients. Senetek has licensed Kinetin to leading global and regional dermatological and skin care marketers such as Valeant Pharmaceuticals. Senetek's researchers at the University of Aarhus, Denmark, also are collaborating with the Institute of Experimental Botany, Prague, and with Beiersdorf AG, Hamburg, to identify and evaluate additional new biologically active compounds for this high growth field.
Senetek PLC Investor Relations Contact:
1-707-226-3900 ext. 102
E-mail: Pknopick@eandecommunications.com
Safe Harbor Statement
This news release contains statements that may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act, including those that might imply Senetek's expectation of successful pre-clinical and clinical trials of Zeatin, execution of a Zeatin license agreement with Valeant, and successful evaluation and development of other new compounds in collaboration with the Institute of Experimental Botany and Beiersdorf AG. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those that might be suggested by such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company's Annual Report on Form 10-K for the year 2004. However, the Company necessarily can give no assurance that it has identified or will identify all of the factors that may result in any particular forward-looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.
Source: Senetek PLC
http://stockcharts.com/def/servlet/SC.web?c=SNTKY,uu[w,a]daclyyay[dd][pb50!b200][vc60][iUg!La12,26,9....
no position
eagle, I think you're going to make a bundle on CAFE .. nice job!
-rollin'
low floater em
HOLY SH*T!!!!!! BIDU @ $80 em
TCOM interesting post about BIDU -> http://www.siliconinvestor.com/readmsg.aspx?msgid=21575856
today is BIDU day huh.. will be interesting to watch em
Baidu.com raises IPO terms to 4 mln ADS, $23-$25
Wed Aug 3, 2005 04:10 PM ET
WASHINGTON, Aug 3 (Reuters) - Baidu.com Inc., China's largest search engine, increased on Wednesday its initial public offering amount to 4 million American depositary shares (ADS) for between $23 and $25 per ADS.
The Beijing-based company previously planned 3.7 million ADSs in a price range between $19 and $21 per ADS for its IPO.
According to an amended offering document filed with the U.S. Securities and Exchange Commission, Baidu.com plans to sell 3.2 million shares and selling shareholders will offer 831,706 shares.
Each ADS represents one ordinary share, said Baidu.com, which has hired Goldman Sachs (Asia) LLC, Credit Suisse First Boston and Piper Jaffray as underwriters.
It has been approved for a Nasdaq listing under the proposed stock symbol "BIDU" (BIDU.O: Quote, Profile, Research) .
© Reuters 2005. All Rights Reserved.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq and all other quotes delayed by at least 15 minutes. Reuters does not endorse the views or opinions given by any third party content provider.
my POS lol,
in 5045 @ 1.955ish
want an EXPLOSION lol... guess i'm still waiting... earnings soon... hopefully some new military order soooooooon
-rollin