Navigation Links
Corgenix Reports Financial Results for First Quarter of Fiscal 2009

DENVER, Nov. 13 /PRNewswire-FirstCall/ -- Corgenix Medical Corporation (OTC Bulletin Board: CONX), a worldwide developer and marketer of diagnostic test kits, reported sales of $2,001,896 for the first fiscal quarter ended September 30, 2008, compared with $2,105,188 for the quarter ended September 30, 2007, a decrease of 4.9%. Excluding revenues from contract manufacturing, Corgenix sales increased 9.6% over the same period in the prior fiscal year.

The first quarter of fiscal 2009 produced an operating loss of $94,133 compared with operating income of $2,023 for the first quarter of fiscal 2008. The net loss for the quarter was $340,659 or $0.01 per share, compared to a net loss of $688,129, or $0.04 per share, in the year earlier quarter. The primary causes of the reduced net loss for the current quarter were the reductions in the cost of sales as a percentage of sales from 45.8% in the previous year to 44.6% in the current quarter, in addition to the reduced interest expense, from $680,324 in the prior year to $252,611 in the current quarter.

During the first quarter of fiscal 2009, Corgenix was again named one of Colorado's 50 fastest growing technology companies in Colorado in a list compiled by Deloitte & Touche.

"During the quarter, we saw solid growth in sales of most Corgenix products and were successful in cutting our quarterly net loss in half," said Douglass Simpson, Corgenix President and CEO. "The decrease in total revenue was mainly due to the loss of some contract manufacturing business, but we remain optimistic that we will replace that part of our business later this year with some exciting new strategic alliances."

Mr. Simpson added, "We believe the remainder of this fiscal year will begin to reflect a number of additional accomplishments including the efforts we continue to put forth in growing our AspirinWorks business."

First Quarter Fiscal 2009 Conference Call Details

Corgenix invites all those interested in hearing management's discussion of fiscal year results to join a shareholders conference call on Thursday, November 13, 2008, at 4:00 PM EST (2:00 PM MST). Interested parties can join the call by dialing (800) 895-0198. International participants may access the call by dialing +1 785 424 1053. The conference code is "CORGENIX." A replay will be available for 30 days following the call by dialing (800) 723-0544 for U.S. participants and +1 402 220 2656 for international participants.

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders, including the world's only non-blood-based test for aspirin effect. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at

Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.


($000 of U.S. dollars except shares outstanding and per share amounts)



Quarter Ended September 30

2008 2007

Net sales $2,002 $2,105

Gross profit 1,107 1,149

Operating income (loss) (94) 2

Net loss (341) (688)

Basic and diluted loss

per share $(0.01) $(0.04)

Basic and Diluted shares

outstanding 30,092,093 19,340,384


September 30, 2008 June 30, 2008

Cash $1,023 $1,520

Working capital 2,513 2,889

Total assets 7,337 7,888

Long-term debt 1,129 1,276

Total stockholders' equity 3,886 4,153

SOURCE Corgenix Medical Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Corgenix Announces Expansion of Hemorrhagic Fever Virus Product Development Program
2. Corgenix Reports Third Quarter Fiscal 2008 Financial Results
3. Corgenix to Exhibit AspirinWorks(R) Test at 2008 ACOFP Meeting in Denver
4. MiddleBrook Pharmaceuticals Reports Third Quarter 2008 Financial Results
5. Spheris Reports Third Quarter 2008 Results
6. MAP Pharmaceuticals Reports Third Quarter of 2008 Financial Results
7. Symmetry Medical Reports Third Quarter 2008 Financial Results
8. EntreMed Reports Clinical Program Progress and Company Update
9. NBTY Reports Fourth Quarter and Fiscal Year Results
10. IPC The Hospitalist Company Reports Record Third Quarter 2008 Results
11. Consumer Reports Survey: Nearly Half of Adults Wont Get Flu Vaccine, Citing Poor Excuses Like I Dont Get Sick
Post Your Comments:
(Date:11/30/2015)... ... November 30, 2015 , ... Healthjump, Inc. announced ... a Healthcare IT consulting, development and support company. The purchase will expand the ... within DataTrade to extend the services currently provided by Healthjump. , ...
(Date:11/30/2015)... BAR, CALIF. (PRWEB) , ... ... ... Inc. ( ), a leading provider of enterprise Time and Attendance/Workforce ... Partner status in the Microsoft Partner Program with competencies in the Application ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... in 2016. In 2016, expected coding changes are likely to include new codes ... codes. It’s not easy to understand the effects of code changes in musculoskeletal, ...
(Date:11/29/2015)... Orion, Clarkston, Metamora, Michigan (PRWEB) , ... ... ... Women's Excellence is once again accredited by the American Institute of Ultrasound ... process that allows practices to demonstrate that they meet or exceed nationally ...
(Date:11/29/2015)... ... November 29, 2015 , ... While conventional walkers afford considerable help with mobility, ... exercise weights. Fortunately, an inventor from Uniontown, Pa., has found a way to address ... benefits of a standard walker to improve the user’s quality of life. To begin ...
Breaking Medicine News(10 mins):
(Date:11/27/2015)... , November 27, 2015 ... set to go online. The potential to save costs, ... vast and far from fully exploited as yet. Here, ... health records, either via mobile tablet or directly at ... --> ) -->      ...
(Date:11/27/2015)... -- Research and Markets ( ) has announced ... 2015-2019" report to their offering. ... the author the present scenario and growth prospects of ... the market size, the report considers revenue generated from ... and copper IUDs. The report forecasts the global intrauterine ...
(Date:11/26/2015)... , Países Bajos, November 26, 2015 ... la terapia fotodinámica de Bremachlorin para el cáncer avanzado. ... la inmunoterapia con la terapia fotodinámica de Bremachlorin para ... Un nuevo enfoque combina la inmunoterapia con la terapia ... Clinical Cancer Research . --> ...
Breaking Medicine Technology: