Escalon(R) Reports Financial Results for 2007 F...($5914603 $(1985940) $2448111 Non-GAA...),Health
$5,914,603 $(1,985,940) $2,448,111
Non-GAAP adjustments:
Stock based compensation $162,576 $- $-
Depreciation and amortization $590,846 $440,952 $387,651
Total adjustments $753,422 $440,952 $387,651
Non-GAAP adjusted income (loss) $6,668,025 $(1,544,988) $2,835,762
Shares used in computing fully
diluted earnings per share 6,434,275 6,152,455 6,231,024
Non-GAAP adjusted income (loss) per
fully diluted share $1.04 $(0.25) $0.46
Founded in 1987, Escalon develops markets and distributes ophthalmic diagnostic and surgical products as well as vascular access devices. Drew, which operates as a separate business unit, provides instrumentation and consumables for the diagnosis and monitoring of medical disorders in the areas of diabetes, cardiovascular diseases and hematology, as well as veterinary hematology and blood chemistry. The Company seeks to utilize strategic partnerships to help finance its development programs and is also seeking acquisitions to further diversify its product line to achieve critical mass in sales and take better advantage of Escalon's distribution capabilities. Escalon has headquarters in Wayne, Pennsylvania and manufacturing operations in Long Island, New York, New Berlin, Wisconsin, Dallas, Texas, Oxford, Connecticut and Barrow-in-Furness, U.K.
Note: This press release contains statements that are considered
forward- looking under the Private Securities Litigation Reform Act of
1995, including statements about the Company's future prospects. They are
based on the Company's current expectations and are subject to a number of
uncertainties and risks, and actual results may differ materially. The
uncertainties and risks include whether the Company is able to implement
its growth and marketing strategies, improve upon the operations of the
Compan
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| SOURCE Escalon Medical Corp. Copyright©2007 PR Newswire. All rights reserved |
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