Trimedyne Reports Its Financial Results for the Quarter Ended June 30, 2011
(firmenpresse) - LAKE FOREST, CA -- (Marketwire) -- 08/23/11 -- Trimedyne, Inc. (OTCQB: TMED) (OTCBB: TMED) today reported its financial results for the quarter ended June 30, 2011.
Revenues for the current quarter were $1,409,000, a decrease of 7.0% from revenues of $1,515,000 for the prior year's quarter. The $106,000 decrease in revenues was due to the current worldwide downward economic trend impacting sales of medical products used in elective procedures. The Company had a net loss of $429,000 or $0.02 per share, based on a weighted average of 18,395,960 shares outstanding for the current quarter, compared to a loss of $62,000 or $0.00 per share, based on a weighted average of 18,365,960 shares outstanding for the prior year quarter.
For the nine month period ended June 30, 2011, revenues were $4,924,000, an increase of 1.0% from $4,896,000 for the same period of 2010. For the nine months ended June 30, 2011, the Company's net loss was $797,000 or $0.04 per share, based on a weighted average of 18,395,960 shares outstanding, a 19% increase from a net loss of $669,000 or $0.04 per share, based on a weighted average of 18,365,960 shares outstanding for the same nine month period of 2010.
Commenting on the financial results for the quarter, Marvin P. Loeb, Sc.D., Chairman of Trimedyne said, "The quarter ended June 30, 2011 was a difficult quarter for us due to the financial malaise throughout the world. However, we see signs that our business prospects are improving, and we hope our results for the quarter ended September 30, 2011 will enable us to close this fiscal year with improved financial results.
"We are carefully controlling costs and judicially devoting funds to the development of new products and expanding our sales organization. However, we cannot assure that we will be able to achieve or maintain sales growth or further reduce our costs."
Trimedyne manufactures proprietary Holmium lasers and patented fiber optic laser devices for vaporizing the prostate to treat BPH, vaporizing excess spinal disc tissue to treat herniated or ruptured discs and in a variety of other, minimally invasive procedures, many of which are performed on an outpatient basis at substantially less cost than conventional surgery. For product, press release, financial, SEC Reports and other information, please visit Trimedyne's website,
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act:
Statements in this news release may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934, including words like "expect", "may", "could" and others. Such statements may involve various risks and uncertainties, some of which may be discussed in the Company's current Form 10-K Report and subsequently filed SEC reports. There is no assurance such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
See accompanying notes to condensed consolidated financial statements
See accompanying notes to condensed consolidated financial statements
Supplemental disclosure of cash flow information:
Cash paid for income taxes during the nine months ended June 30, 2011 and 2010 was $2,000 and $12,000 respectively.
Cash paid for interest during the nine months ended June 30, 2011 and 2010 was approximately $53,000 and $26,000, respectively.
Supplemental disclosure of non-cash investing activity:
During the nine months ended June 30, 2011 and 2010, the Company financed the purchase of certain insurance policies with a $136,000 and a $60,000 note respectively.
CONTACT:
Jeffrey Rudner
(949) 951-3800, Ext. 285
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Datum: 23.08.2011 - 07:30 Uhr
Sprache: Deutsch
News-ID 1032926
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