Navigation Links
Human Pheromone Sciences Announces Second Quarter Results

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

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

    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
                        (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
         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:
(Date:11/25/2015)... , ... November 25, 2015 , ... On November 23rd ... Tri Lite’s personal heating products business. Cozy Products explains what this means ... that fit in well with the Cozy Products business model: to sell personal heaters ...
(Date:11/25/2015)... ... ... SCOTTSDALE, AZ) - Today, Dr. Todd C. Hobgood ... non-surgical treatments, announced the expansion of his private practice capabilities with the grand ... trained and nationally recognized for his natural approach, Dr. Todd Hobgood serves the ...
(Date:11/25/2015)... ... November 25, 2015 , ... Brillianteen, McGaw YMCA’s student-produced musical ... its 65th Anniversary Brillianteen Revue, scheduled for March 4-6, 2016. Auditions for this ... Brillianteen has been a treasured tradition for numerous families in the Evanston community. ...
(Date:11/25/2015)... ... November 25, 2015 , ... “While riding the bus, I saw a passenger ... thought there had to be a convenient and comfortable way to protect them from ... disabled individuals to safely travel during cold or inclement weather. In doing so, it ...
(Date:11/25/2015)... , ... November 25, 2015 , ... ... provide scholarships for people struggling with eating disorders as a result of the ... second annual event, held at Fox Run Golf Club in Eureka, will help ...
Breaking Medicine News(10 mins):
(Date:11/25/2015)... Developmental, commercial, and regulatory/legal strategies ... products, says GBI Research . ... all play a key role in boosting the profitability of ... --> Developmental, commercial, and regulatory/legal ... profitability of pharmaceutical products, says GBI Research ...
(Date:11/24/2015)... 2015 The hope of bearing ... of IVF cycles. After failure of over 15 IVF ... lost all hopes that she would be able to conceive ever. But finally optimism prevailed ... after failure of over 15 IVF cycles. ... to take one last attempt with Gaudium IVF Center in ...
(Date:11/24/2015)... HILL, N.C. , Nov. 24, 2015  In ... research projects in an effort to quickly uncover new ... position. --> --> ... launch a market research project and ensure that all ... company and industry standards. Another major barrier to efficiently ...
Breaking Medicine Technology: