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Friday, December 17, 2010 11:24:57 AM
CEO STEVE KING, 3-17-10/ROTH, SLIDE18:
“We have a profitable CMO, Avid Bioservices. We’ve seen very nice, consistent growth over the past few years. If you take a snapshot of the company over the last 12mos. ended 1-31-2010, our last qtly reporting #’s, Avid provided about $32mm in services. What’s important here is these $32mm in services are all positive, no matter which of the 3 areas they fall into. Obviously, 3rd party work, $15mm over that time period, is important because it brings in revenues to help offset our overall burn rate. The same with the Gov’t Contract work, it’s one of our sub-contractors on our Gov’t Contract – that was another $8mm in services. And about $9mm in services for Peregrine, as we were building inventory, doing scale-up work, and preparing for the later-stage clinical trials. Again, this organization is a commercial mfg. facility since 2005 – we have 2,400L of capacity, and we believe this facility has adequate capacity in which we could potentially launch Bavi out of the facility. Of course, if Bavi is as successful as we believe it could be, we would need to expand the facility and potentially expand it beyond our existing space, so we believe we do have adequate capacity with very minor facility modifications to meet that commercial launch.”
http://tinyurl.com/ye9v7jq
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Here’s the updated PPHM Revs-by-Qtr table, now thru FY11/Q2 (q/e 10-31-10), per the 10-31-10 10-Q ( http://tinyurl.com/2e4rw3p ).
DEFERRED
-------REVENUES------ REVENUES GOVT INVEN- AVID
Quarter Avid Govt Lic. TOTAL Avid Govt REC TORIES S.A.*
FY07Q1 7-31-06 398 0 23 421 317 0 0 971
FY07Q2 10-31-06 636 0 48 684 1388 0 0 1899
FY07Q3 1-31-07 347 0 16 363 2202 0 0 1325
FY07Q4 4-30-07 2111 0 129 2240 1060 0 0 1916
FY08Q1 7-31-07 1621 0 4 1625 1820 0 0 2363
FY08Q2 10-31-07 1863 0 29 1892 1338 0 0 3500
FY08Q3 1-31-08 1662 0 13 1675 1434 0 0 2394
FY08Q4 4-30-08 751 0 150 901 2196 0 0 2900
FY09Q1 7-31-08 1193 324 0 1517 4021 980 1794 4628 3500
FY09Q2 10-31-08 983 958 0 1941 6472 1701 837 6700 2090
FY09Q3 1-31-09 5778 1048 0 6826 4805 3262 362 5547 8650#
FY09Q4 4-30-09 5009 2683 175 7867 3776 3871 1944 4707 8650#
FY10Q1 7-31-09 2070 4671 9 6750 5755 2332 1449 6177 9100
FY10Q2 10-31-09 5308 1510 78 6896 4260 3989 1595 5850 7500
FY10Q3 1-31-10 2945 6854 78 9877 3052 76 1379 3861 7150%
FY10Q4 4-30-10 2881 1461 78 4420 2406 78 367 3123 6250^
FY11Q1 7-31-10 983 2111 115 3209 3719 47 590 4692 ____
FY11Q2 10-31-10 3627 966 78 4671 2447 35 425 3555 ____
*Avid Standalone Business, adding in Internal+Govt work: from Conf.Calls:
#SKing/2-9-10/BioCEO: Avid tot-svcs LTM 10-2009: $33.9mm – split evenly Q3/Q4.
%SKing/3-17-10/ROTH: Avid tot-svcs LTM 1-2010: $32.4mm – used to calc. FY10Q3.
...%Q3 $7.15mm could be off given ‘split even’ assumption taken above.
^C.Eso/7-14-10CC: Avid tot-svcs for FY10 were $30mm
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