Cash on Hand Totals $17.8 million at June 30
Investor Conference Call Scheduled for September 5
NAPA, Calif., Aug. 14 /PRNewswire-FirstCall/ -- Senetek PLC (OTC Bulletin Board: SNKTY), a Life Sciences company engaged in the development of technologies that target the science of healthy aging, today announced financial results for the quarter ended June 30, 2008.
Revenue for the quarter ended June 30, 2008 was $691,000, compared with $471,000 reported in the second quarter of 2007.
Net income for the quarter ended June 30, 2008 totaled $257,000, or $0.03 per share compared to a net loss of $397,000 a loss of $0.05 per share in the second quarter of 2007. Net income for the quarter ended June 30, 2008 included other income of $1,125,000 from the previously announced settlement with Triax Aesthetics LLC and a service provider.
Cash and cash equivalents totaling $17,803,000, or $2.33 per share at June 30, 2008 represent the resources necessary to meet operating requirements for the foreseeable future.
Senetek's Board of Directors will meet on August 28, 2008. Matters to be addressed include a capital restructure to facilitate both a possible share buyback and dividend program and a Nominating Committee review of Board candidates.
Senetek will conduct a teleconference call for investors on Friday,
September 5, 2008 at 9:00 a.m. Pacific, 12:00 p.m. Eastern to provide an
update to include:
* Pyratine-6(TM) -- current success in U.S. physician market and Q4 2008
* Invicorp(R) EU -- effect of Ardana Bioscience Ltd. insolvency.
* Invicorp(R) US -- Plethora Solutions Ltd. report on status of regulatory
* Reliaject(R) -- update on Ranbaxy's progress.
* Corporate and Product Public Relations.
The domestic dial-in number is 877-593-8638; the international dial-in number is 706-634-9240, conference ID 60464120. Mr. Frank J. Massino, Chairman and CEO, Mr. Phillip Rose, Chief Operating Officer and Mr. William F. O'Kelly, Chief Financial Officer, will participate to the call. Replay of the conference call will be available until September 12, 2008. Domestic Replay dial-in 800-642-1687, International Replay dial-in 706-645-9291, replay conference ID 60464120.
About Senetek PLC
Senetek PLC (OTCBB: SNKTY) is a Life Sciences company engaged in the development of breakthrough technologies that target the science of healthy aging. The Company's extensive research collaborations have resulted in a strong pipeline of patented compounds and products with broad therapeutic applications and a leading presence in dermatology. Senetek collaborates with established specialty pharmaceutical companies in the final development and marketing of its proprietary products, most recently resulting in the development of the best-selling anti-aging product sold in the North American physician market. For more information, visit the company's website at http://www.senetekplc.com.
This news release contains statements that may be considered 'forward- looking statements' within the meaning of the Private Securities Litigation Reform Act. 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 2007. 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|
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