Navigation Links
Human Pheromone Sciences Announces Second Quarter Results
Date:8/13/2009

SAN JOSE, Calif., Aug. 13 /PRNewswire-FirstCall/ -- Human Pheromone Sciences, Inc. (OTC Bulletin Board: EROX) ("HPS" or "the Company") today announced results for the three and six months ended June 30, 2009. For the three month period ending June 30, 2009, net revenues of $224,000 represented a 5% decrease from the revenues of $236,000 in the prior year period, and resulted in a net loss of $84,000 ($0.02 per share) as compared with a net loss of $88,000 ($0.02 per share) for the same period of 2008. For the six month period ending June 30, 2009, net revenues of $389,000 were 23% lower than the previous year's $502,000, resulting in a net loss of $265,000 ($0.06 per share) as compared with a net loss of $151,000 ($0.04 per share) in the first six months of 2008. At June 30, 2009, the Company reflected cash balance of $542,000 compared with $907,000 at December 31, 2008. The cash use was within the expectations of the Company. There was no bank indebtedness at either date.

According to a Company spokesperson, "the slight decrease in revenues for the quarter is attributable to reduced revenue recognition from a previously signed license agreement, slightly offset by increases in U.S. and International sales of pheromones. The growth in pheromone sales is a result of a new licensing agreement signed for the use of our patented technology in Taiwan, and the expansion of our agreement with an additional U.S. subsidiary of the international chemical and consumer giant Schwarzkopf and Henkel, Dial Corporation." A slight increase in research expense in the quarter was offset by an 8% reduction in other operating expenses, resulting in a $4,000 lower loss in the current year's quarter.

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 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-K for the year ended December 31, 2008, and Form 10-Q for the three and six months ended June 30, 2009, 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)

                                                  June 30,        December 31,
                                                   2009              2008
                                                (Unaudited)
    Assets

    Cash and cash equivalents                 $     542       $       907
    Accounts receivable                              43                52
    Inventories                                      50                39
    Other current assets                             34                58
    Property and equipment, net                       1                 2

    Total                                     $     670         $   1,058


    Liabilities and shareholders' equity

    Accounts payable                        $        30       $        19
    Other current liabilities                       111               131
    Deferred income - current                       256               297
    Deferred income - non-current                   227               324
    Common stock                                 21,067            21,043
    Accumulated deficit                         (21,021)          (20,756)

    Total                                    $      670         $   1,058


                              HUMAN PHEROMONE SCIENCES, INC.

                            Condensed Statements of Operations
                                       (Unaudited)
                        (Dollars in thousands, except per-share data)

                                         Three months           Six months
                                        ended June 30,         ended June 30,
                                       2009       2008        2009      2008

    Net revenue                   $     224  $      236    $    389  $   502
    Cost of goods sold                   65          73         130      154
    Research and development             13           9          38       23
    Selling, general and
     administrative                     230         249         487      493

    Loss from operations                (84)        (95)       (266)    (168)

    Other income                          1           7           2       18

    Provision for income taxes            1           -           1        1

    Net loss                       $    (84)   $    (88)     $ (265)  $ (151)

    Loss per share -
      Basic and fully diluted:      $ (0.02)   $  (0.02)    $ (0.06) $ (0.04)


    Weighted average common shares
     outstanding-
         Basic and fully diluted:     4,152       4,152       4,152    4,152

Net 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©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Embryonic Stem Cells Repair Human Heart
2. Embryonic Human Stem Cells May Help Repair Heart Muscle, Lab Study Shows
3. Human Papilloma Virus vaccines may decrease chances of oral cancer
4. Investigational Agent Targeting Metabotropic Glutamate 2/3 Receptors Demonstrates Antipsychotic Activity in Humans, Study in Nature Medicine Finds
5. MassMutual Promotes Debra Palermino to Senior Vice President of Human Resources
6. Toddler Study Proves Humans Outsmart Apes
7. Human C-reactive protein regulates myeloma tumor cell growth and survival
8. Altered expression of ultraconserved noncoding RNAs linked to human leukemias and carcinomas
9. AtriCure Reports First Human Implant of the Cosgrove-Gillinov Left Atrial Appendage Occlusion System
10. New class of RNA molecules may be important in human cancer
11. The Humana Foundation and Libraries for the Future Launch Health Literacy Pilot in Atlanta
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... ... April 29, 2016 , ... Shamangelic Healing, ... addition Onnit brand Alpha BRAIN and New Mood Daily-Stress Formula for brain optimization ... optimization products to the store is just one more way Shamangelic Healing supports ...
(Date:4/29/2016)... ... April 29, 2016 , ... The White House announced efforts ... more information about their loan terms and accounts, and more protections for borrowers. ... federal and private loans, has reached $1.3 trillion, with 43 million Americans holding ...
(Date:4/29/2016)... ... April 29, 2016 , ... ... team BioCellection won the $30,000 Perlman Grand Prize of the 2016 Wharton Business ... Award, the Michelson People’s Choice Award, and the Committee Award for Most ‘Wow ...
(Date:4/29/2016)... ... April 29, 2016 , ... Dr. Robert Mondavi, one of the dentists ... dentistry is a fast-growing field as more patients are discovering the many different ways ... about the options currently available to them and which ones might work for their ...
(Date:4/29/2016)... Jupiter, FL (PRWEB) , ... April 29, 2016 ... ... it will feature Grassland Dairy Products, Inc. in an upcoming episode, airing third ... than a century of churning cream into butter, Grassland Dairy Products, located in ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... 28, 2016  While Abbott,s announced purchase of ... valve repair and stent business, healthcare research firm ... more firmly into patient monitoring.  Kalorama said that ... device areas, with double-digit growth expected the next ... Advanced Remote Patient Monitoring . Abbott Laboratories ...
(Date:4/28/2016)... Calif. , April 28, 2016  Marking ... widely accessible breast and ovarian cancer risk test, ... panel analyzing 30 genes that highly impact the ... women. Available today, the Color Test analyzes hereditary ... prostate, stomach, and uterine cancers. The Color Test ...
(Date:4/28/2016)... , April 28, 2016  The blood testing ... million dollars, according to Kalorama Information and The Freedonia ... immunoassays and nucleic acid testing.  The healthcare research firm ... progress in developing blood collection stations and in improving ... in Kalorama Information,s report, Blood Testing Market ...
Breaking Medicine Technology: