Navigation Links
Human Pheromone Sciences Announces First Quarter Results
Date:5/15/2008

Results Impacted by Downturn in U.S. Beauty Market

SAN JOSE, Calif., May 15 /PRNewswire-FirstCall/ -- Human Pheromone Sciences, Inc. (OTC Bulletin Board: EROX) ("HPS" or "the Company") today announced results for the first quarter ended March 31, 2008. Net revenues of $266,000 represented a 20% decrease from the revenues of $334,000 in the prior year period, and resulted in a net loss of $63,000 ($.02 per share) as compared with net income of $24,000 ($.01 per share) for the same period of 2007. At March 31, 2008, the Company reflected cash balances of $1,397,000 compared with $1,437,000 in cash at December 31, 2007, a $40,000 reduction in the quarter. There was no bank indebtedness at either period and current liabilities were the same at both periods, excluding deferred revenue changes.

According to a Company spokesperson, the results were in line with Company forecasts, and reflected the overall downturn in the U.S. Fragrance and Beauty Market sales during the period. "We had anticipated the weakness of revenues in our largest consumer product segment, and, as such, had undertaken the program to expand the markets for the use of our patented technology in other consumer product arenas. Some of the shortfall in the basic beauty area was offset by revenues received under our licensing agreement signed last year with Schwarzkopf & Henkel, in the hair care market, which was expanded in the current quarter, and recognition of revenue from our license agreement with Johnson & Johnson entered into in September 2006. It is apparent that such diversification is the way to hedge against a potential continued decline in a single market that represented our initial focus in the Fragrance and Beauty business," the spokesperson noted. As previously stated, the Company's focus in 2008 is the generation of additional licensing and supply activities, and increasing product development spending for additional compounds that have been identified and isolated and are now in advanced stages of development. "Generating additional revenues under new licensing agreements will not only grow our business, but will reduce the effect of erratic purchasing patterns by our current major licensee. With respect to the new compounds in which we are investing, we are excited about the results we have seen to date, the patent we have filed on the initial compound and the potential for other novel compounds," a Company spokesperson indicated.

Human Pheromone Sciences, Inc. is a technology-based company, whose proof-of concept products included prestige-priced fragrances and toiletries and environmental products sold under the Natural Attraction(R), REALM(R), innerREALM(R) and EROX(R) trademarks. These products contain mood-enhancing compounds, whose efficacy has been validated at leading universities around the world, and whose use is covered under United States and foreign patents. The Company is also involved in research and product development efforts on new compounds that have been previously identified as stimulating the emotional centers of the human brain. Further information is available on line at http://www.erox.com.

The statements in this news release may contain forward-looking statements that involve risks and uncertainties that could cause results to differ from predicted results. Further information on factors that could affect the Company's results is detailed in the Company's annual report to shareholders on Form 10-KSB for the year ended December 31, 2007, and Form 10-Q for the quarter ended March 31, 2008, as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements.

Tables follow

HUMAN PHEROMONE SCIENCES, INC.

Condensed Balance Sheets

(Dollars in thousands)

March 31, December 31,

2008 2007

(Unaudited)

Assets

Cash and cash equivalents $ 1,397 $ 1,437

Accounts receivable 83 194

Inventories, net 45 25

Other current assets 35 40

Property and equipment, net 3 3

Total $ 1,563 $ 1,699

Liabilities and shareholders' deficit

Accounts payable $ 52 $ 28

Other current liabilities 118 141

Deferred income - current 512 518

Deferred income - non-current 469 566

Common stock 20,992 20,963

Accumulated deficit (20,580) (20,517)

Total $ 1,563 $ 1,699

HUMAN PHEROMONE SCIENCES, INC.

Condensed Statements of Operations

(Unaudited)

(Dollars in thousands, except per-share data)

Three months ended March 31,

2008 2007

Net revenues $ 266 $ 334

Cost of goods sold 81 107

Research and development 14 12

Selling, general and administrative 244 208

Income (loss) from operations (73) 7

Other income 11 18

Provision for income taxes 1 1

Net income (loss) $ (63) $ 24

Income (loss) per share, basic $ (0.02) $ 0.01

Income (loss) per share, fully diluted $ (0.02) $ 0.01

Weighted average common shares

outstanding-Basic 4,152 4,152

Weighted average common shares

outstanding-Fully diluted 4,152 4,782

Net income (loss) per share is based on the weighted average number of common shares and common equivalents outstanding during each period. Certain common stock equivalents are excluded when their effect would be anti- dilutive.


'/>"/>
SOURCE Human Pheromone Sciences, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Researchers find first conclusive evidence of Alzheimers-like brain tangles in nonhuman primates
2. Vancouver researchers discover missing link between TB bacteria and humans
3. The California Dental Association Foundation Presents Inaugural Humanitarian Award to USC Mobile Dental Clinics Champion Charles M. Goldstein, DDS, MPH
4. Wyle Targets New Customers for Expanded Human Health and Performance Capabilities and Services
5. Human aging gene found in flies
6. Stroke Survivors Walk Better With Human Help
7. Virus mimics human protein to hijack cell division machinery
8. Human Genome Sciences Appoints John L. Lamattina, Ph.D., to Its Board of Directors
9. St. Jude finds dancing hair cells are key to humans acute hearing
10. Six Youths Secure Top Spots in American Humane Kind Kid Contest
11. AVMA Passes New Policy to Encourage Humane Treatment of Captive Elephants, Appropriate Use of Training Tools
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... ... February 11, 2016 , ... According to an article published February ... loss dietary supplement, is being recalled due to the discovery that it contains dangerous ... not a single supplement on the market proven to help people safety lose excess ...
(Date:2/11/2016)... , ... February 11, 2016 , ... Registered nurses, licensed ... CEU seminar titled, “Stroke Management: Time to Act, Time to Heal” on Thursday, February ... in Whippany, N.J. The presenter is Vishal Chedda, president of ANSA Consultants, who will ...
(Date:2/11/2016)... (PRWEB) , ... February 12, 2016 , ... The ... is up from 0.416 in 2013. The SJR uses data taken from the Scopus ... account both the number of citations received by the journal over a three year ...
(Date:2/11/2016)... ... 11, 2016 , ... The Chartis Group, a national advisory ... in the “2015/2016 Best in KLAS: Software and Services” report in two categories: ... and insights firm on a global mission to improve healthcare delivery by amplifying ...
(Date:2/11/2016)... ... February 11, 2016 , ... Thermi™, a world leader ... to announce the promotions of Allison Kelly to executive vice president of the ... vice president of North American capital sales, and Wendy Oseas to vice president ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... SAN FRANCISCO , Feb. 11, 2016 Potrero ... system, is pleased to announce the appointment of George ... San Antonio, TX , WellMed is ... servicing over 200,000 patients and HMO members in ... founding WellMed in 1990 out of his own internal medicine ...
(Date:2/11/2016)... Feb. 11, 2016  MiMedx Group, Inc. (NASDAQ: ... amniotic membrane and other birth tissues, human skin and ... and market advanced products and therapies, announced today that ... Global Healthcare Conference in New York ... Michael J. Senken , Chief Financial Officer and ...
(Date:2/11/2016)...  AfterPill.com is reporting that this week,s Centers for ... women who are at risk of unintended pregnancy impacts ... raises the risks of unprotected sex in particular.  ... to the Guttmacher Institute, there are 43 million women ... who have sex without the intention of becoming pregnant.  ...
Breaking Medicine Technology: